<SEC-DOCUMENT>0000891804-13-001355.txt : 20131108
<SEC-HEADER>0000891804-13-001355.hdr.sgml : 20131108
<ACCEPTANCE-DATETIME>20131108114629
ACCESSION NUMBER:		0000891804-13-001355
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20130831
FILED AS OF DATE:		20131108
DATE AS OF CHANGE:		20131108
EFFECTIVENESS DATE:		20131108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN CALIFORNIA AMT-FREE MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001195738
		IRS NUMBER:				030487017
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21212
		FILM NUMBER:		131203328

	BUSINESS ADDRESS:	
		STREET 1:		333 WEST WACKER DR.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178146

	MAIL ADDRESS:	
		STREET 1:		333 WEST WACKER DR.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN INSURED CALIFORNIA TAX FREE ADVANTAGE MUNICIPAL FUND
		DATE OF NAME CHANGE:	20021003
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
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<DESCRIPTION>NKX
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">UNITED STATES</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">SECURITIES AND EXCHANGE COMMISSION</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Washington, D.C. 20549</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">FORM N-CSR</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">CERTIFIED SHAREHOLDER REPORT OF REGISTERED</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">MANAGEMENT INVESTMENT COMPANIES</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Investment Company Act file number <font style="TEXT-DECORATION: underline; DISPLAY: inline">811-21212</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="TEXT-DECORATION: underline; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(Exact name of registrant as specified in charter)</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Nuveen Investments</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">333 West Wacker Drive</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="TEXT-DECORATION: underline; DISPLAY: inline">Chicago, IL 60606</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(Address of principal executive offices) (Zip code)</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Kevin J. McCarthy</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Nuveen Investments</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">333 West Wacker Drive</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="TEXT-DECORATION: underline; DISPLAY: inline">Chicago, IL 60606</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(Name and address of agent for service)</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Registrant's telephone number, including area code: <font style="TEXT-DECORATION: underline; DISPLAY: inline">(312) 917-7700</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Date of fiscal year end:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">February 28</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Date of reporting period: <font style="TEXT-DECORATION: underline; DISPLAY: inline">August 31, 2013</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 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. ss. 3507.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">ITEM 1. REPORTS TO STOCKHOLDERS.</font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Life is Complex</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen makes things e-simple.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">It only takes a minute to sign up for e-Reports. Once enrolled, you'll receive an e-mail as soon as your Nuveen Investments Fund information is ready&#8212;no more waiting for delivery by regular mail. Just click on the link within the e-mail to see the report and save it on your computer if you wish.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Free e-Reports right to your e-mail!</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">www.investordelivery.com</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">If you receive your Nuveen Fund dividends and statements from your financial advisor or brokerage account.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">www.nuveen.com/accountaccess</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">If you receive your Nuveen Fund dividends and statements directly from Nuveen.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chairman&#8217;s Letter to Shareholders</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
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<td align="left" valign="top" width="96%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Portfolio Manager&#8217;s Comments</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fund Leverage</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common Share Information</font></div>
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<td align="left" valign="top" width="96%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Risk Considerations</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Dear Shareholders,</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">I am pleased to have this opportunity to introduce myself to you as the new independent chairman of the Nuveen Fund Board, effective July 1, 2013. I am honored to have been selected as chairman, with its primary responsibility to serve the interests of the Nuveen Fund shareholders. My predecessor, Robert Bremner, was the first independent director to serve as chairman of the Board and I, and my fellow Board members, plan to continue his legacy of strong independent oversight of your funds.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The global economy has hit major turning points over the last several months to a year. The developed world is gradually recovering from their financial crisis while the emerging markets appear to be struggling with the downshift of China&#8217;s growth potential. Japan is entering a new era of growth after decades of economic stagnation and many of the Eurozone nations appear to be exiting their recession. Despite the positive events, there are still potential risks. Middle East tensions, rising oil prices, defaults in Europe and fallout from the financial stress in emerging markets could all reverse the recent progress in the global economy.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On the domestic front, the U.S. economy is experiencing sustainable slow growth. Corporate fundamentals are strong as earnings per share and corporate cash are at the highest level in two decades. Unemployment is trending down and the housing market has experienced a rebound, each assisting the positive economic scenario. However, there are some issues to be watched. Interest rates are expected to increase but significant uncertainty about the timing remains. Partisan politics in Washington D.C. with their troublesome outcome add to the uncertainties that could cause problems for the economy going forward.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In the near term, governments are focused on economic recovery and the growth of their economies, which could lead to an environment of attractive investment opportunities. Over the long term, the uncertainties mentioned earlier could hinder the potential growth. Because of this, Nuveen&#8217;s investment management teams work hard to balance return and risk with a range of investment strategies. I encourage you to read the following commentary on the management of your fund.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">William J. Schneider</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">These Funds feature management by Nuveen Asset Management, LLC, an affiliate of Nuveen Investments. Portfolio manager Scott R. Romans, PhD., discusses key investment strategies and the six-month performance of these Nuveen California Municipal Funds. Scott has managed these five Funds since 2003.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">What key strategies were used to manage these California Funds during the six-month reporting period ended August 31, 2013?</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During this reporting period, uncertainty about the next step for the Federal Reserve&#8217;s quantitative easing program and the potential impact on the economy and financial markets led to increased market volatility. Ongoing political debate over federal spending and headline credit stories involving Detroit and Puerto Rico also contributed to an unsettled environment and prompted an increase in selling. Given this backdrop, municipal bond prices generally declined during this period, while the yield curve steepened. During this reporting period, we continued to take a bottom-up approach to discovering sectors that appeared undervalued as well as individual credits that had the potential to perform well over the long term and helped us keep our Funds fully invested.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">We primarily focused on three strategies intended to enhance the Funds&#8217; positioning and increase income distribution. The first of these strategies involved purchasing bonds that we believed had the best prospects for being advance refunded, that is, bonds with higher coupons or slightly shorter calls. Carrying out this strategy did not involve selling any bonds from our portfolios, but instead reinvesting the proceeds from bonds being called. Once interest rates started to rise, our focus shifted to bond swaps. Virtually all of the bonds we added to our portfolios in 2012 were purchased at significant premiums. Because premiums must be amortized, this cuts into the amount of income available for distribution from the coupon. By executing a bond swap in a rising interest rate environment, that amortization expense is basically converted into a loss, so that more of the income from the coupon can be distributed to shareholders. Most of the bonds we swapped offered similar risk characteristics and often involved the same credit, but with different maturity dates. An additional benefit of this strategy was the generation of tax loss carry-forwards that can be used to offset future capital gains. During this reporting period, we pursued this second strategy rather aggressively.</font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Manager&#8217;s Comments </font>(continued)</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The third strategy involved an approach known as &#8220;couponing up.&#8221; Couponing up is the process of working to improve the book yields on Fund holdings, which enables us to maintain and potentially improve the dividend stream that is passed on to shareholders. For example, during the reporting period we sold some of the Funds&#8217; redevelopment agency holdings with 5% coupons in the 20-year maturity range at attractive prices into strong retail demand. We then used the proceeds from these sales to purchase more recent redevelopment issuance from 2010-2011 with higher coupons (e.g., 5.75%). These bonds ultimately provide a more defensive structure and enable us to increase income distributions.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Activity during this period was driven primarily by the execution of these strategies and the reinvestment of proceeds from called and matured bonds, which was aimed at keeping the Funds fully invested and supporting their income streams. During the first part of this period, we experienced an increased number of current bond calls resulting from a growth in refinancings, which provided a meaningful source of liquidity. These calls also had an impact on some of the Funds&#8217; durations, since the bonds called as part of current refundings were priced to short calls and therefore had negligible durations. Although this was not a strategy during this reporting period, reinvesting these call proceeds in anything other than cash had the effect of extending duration. In the latter months of this period, as interest rates rose, refinancing activity waned. As the supply of new paper associated with the refinancings declined in the California market, we focused on the secondary market for the majority of our purchases.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, all five of these Funds continued to use inverse floating rate securities. We employ inverse floaters for a variety of reasons, including duration management, income enhancement and total return enhancement.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">How did the Funds perform during the six-month reporting period ended August 31, 2013?</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The tables in each Fund&#8217;s Performance Overview and Holding Summaries section of this report provide the Funds&#8217; returns for the six-month, one-year, five-year, and ten-year periods ended August 31, 2013. Each Fund&#8217;s returns are compared with the performance of a corresponding market index and Lipper classification average.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">For the six months ended August 31, 2013, the cumulative returns on common share net asset value (NAV) for all five of these Funds underperformed the returns for the S&amp;P Municipal Bond California Index as well as the national S&amp;P Municipal Bond Index. For the same period, NCU exceeded the average return for the Lipper California Municipal Debt Funds Classification Average, while NAC, NVX, NZH and NKX trailed the Lipper average return.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Key management factors that influenced the Funds&#8217; returns included duration and yield curve positioning, credit exposure and sector allocation. The use of regulatory leverage also was an important factor in performance during this reporting period. Leverage is discussed in more detail later in this report.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As interest rates rose and the yield curve steepened, municipal bonds with shorter maturities generally outperformed those with longer maturities. Overall, credits at the shortest end of the municipal yield curve posted the best returns during this period, while bonds at the longest end produced the weakest results. Duration and yield curve positioning was the major factor detracting from the Funds&#8217; performance. All of these Funds tended to be positioned with durations slightly longer than that of the index, which hurt their performance. On the whole, NAC was the least advantageously positioned in terms of duration and yield curve exposure, with a duration that exceed that of the market by the widest margin. NCU benefited from having the shortest effective duration among these five Funds.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Credit exposure also factored into the Funds&#8217; performance during these six months, as credit spreads, or the difference in yield spreads between U.S. Treasury securities and comparable investments such as municipal bonds, began to</font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">widen and higher quality bonds generally outperformed lower quality bonds. All of these Funds generally benefited from their exposure to the higher rated categories. However, they tended to be underweighted in these categories and overweighted in lower rated bonds, which hampered their performance. Among these Funds, NAC, NVX and NZH had the heaviest allocations of lower rated bonds (bonds ranked BBB or lower), while NCU was helped by a heavier weighting of bonds rated AAA. NKX, which was managed as an insured Fund until May 2012, continued to have a relatively higher credit profile, which worked in its favor during this reporting period.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">After underperforming for many months, pre-refunded bonds, which are typically backed by U.S. Treasury securities, were among the best performing market segments during this reporting period. The outperformance of these bonds can be attributed primarily to their shorter effective maturities and higher credit quality. NCU and NKX benefited from their heavier weightings in pre-refunded bonds, while NAC and NVX had the smallest allocations of these bonds. General obligation (GO), housing, redevelopment agency (RDA) and tax increment financing (TIF) district bonds also typically outperformed the general municipal market. During this reporting period, NKX&#8217;s overweighting in TIF credits was a positive contributor to its performance.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In contrast, revenue bonds as a whole underperformed the municipal market. Among the revenue sectors that lagged municipal market performance by the widest margins for this reporting period were industrial development revenue (IDR), health care (including hospitals), water and sewer, and transportation. Tobacco credits backed by the 1998 master tobacco settlement agreement also were among the poorest performing market sectors, due in part to their longer effective durations. All of these Funds had similar allocations of tobacco credits, with NAC and NVX having the heaviest weightings and NCU and NKX the smallest.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Shareholders should be aware of issues impacting the Funds&#8217; Puerto Rico holdings. In 2012, Moody&#8217;s downgraded Puerto Rico Sales Tax Financing Corporation (COFINA) bonds to Aa3 from Aa2 and Puerto Rico GO bonds to Baa3 from Baa1. These downgrades were based on Puerto Rico&#8217;s ongoing economic problems and, in the case of the COFINA bonds, the impact of these problems on the projected growth of sales tax revenues. However, the COFINA bonds were able to maintain a higher credit rating than the GOs because, unlike the revenue streams supporting some Puerto Rican issues, the sales taxes supporting the COFINA bonds cannot be diverted and used to support Puerto Rico&#8217;s GO bonds. For the reporting period ended August 31, 2013, Puerto Rico paper generally underperformed the municipal market as a whole. NCU did not have any Puerto Rico holdings, while NAC, NVX, NZH, and NKX had limited exposure to Puerto Rico, with holdings ranging from less than 1% in NAC to approximately 3% in NVX. The majority of these holdings are the dedicated sales tax bonds issued by COFINA. NVX also has a small position in Puerto Rico GO bonds, all of which are insured, and NZH holds Puerto Rico highway revenue credits. Exposure to enhanced Puerto Rico bonds (that is, credits that were not insured or escrowed) did not exceed 1.4% in any of these Funds and, in most cases, was significantly less. The limited nature of the Funds&#8217; exposure to Puerto Rico credits resulted in negligible impact from the bonds&#8217; underperformance.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Given the Puerto Rico situation and Detroit&#8217;s bankruptcy filing in July 2013, we should note that we continue to closely monitor credit conditions in the California market. In August 2013, Fitch upgraded the rating on California state GO debt to A from A-, while Moody&#8217;s and S&amp;P maintained their ratings of A1 and A, respectively. We also continue to watch the status of local municipalities such as San Bernardino and Stockton, which filed for bankruptcy in 2012 as they became increasingly squeezed by budget problems resulting from rising pension costs. At the end of August 2013, San Bernardino was awarded bankruptcy protection by the court, joining Stockton, which has begun forming a restructuring plan after receiving Chapter 9 protection in April 2013. San Bernardino currently has unfunded pension liabilities of approximately $145 million as well as $50 million in bonds it issued in 2005 to help cover pension obligations. Pension liabilities, primarily due to the California Public Employees&#8217; Retirement System (CalPERS), also were at the</font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Manager&#8217;s Comments </font>(continued)</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">heart of Stockton&#8217;s bankruptcy filing. With the recent press surrounding Detroit, it is worth noting the major difference that exists between the bankruptcy in Detroit and the situation in Stockton and San Bernardino and that is that the California cities&#8217; problems stem from pension obligations, rather than a history of heavy debt burdens and significant tax base deterioration over many years, as in Detroit. Among these Funds, both NZH and NKX had exposure to Stockton and San Bernardino, all of which is insured.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">APPROVED FUND REORGANIZATIONS</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On October 13, 2013 (subsequent to the close of this reporting period) the Nuveen Funds Board of Directors/Trustees approved a series of reorganizations for certain of the California Funds included in this report. The reorganizations are subject to customary conditions, including shareholder approval at annual shareholder meetings in early 2014. Each reorganization is intended to create one, larger-state fund, which would potentially offer shareholders the following benefits:</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lower fund expense ratios (excluding the effects of leverage), as fixed costs are spread over a larger asset base;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Enhanced secondary market trading, as larger funds potentially make it easier for investors to buy and sell fund shares;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lower per share trading costs through reduced bid/ask spreads due to a larger common share float; and</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increased fund flexibility in managing the structure and cost of leverage over time.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The approved reorganizations are as follows:</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Upon the closing of a reorganization, an Acquired Fund transfers its assets to the Acquiring Fund in exchange for common and preferred shares of the Acquiring Fund, and the assumption by the Acquiring Fund of the liabilities of the Acquired Fund. Each Acquired Fund is then liquidated, dissolved and terminated in accordance with its Declaration of Trust. Shareholders of each Acquired Fund become shareholders of the Acquiring Fund. Holders of common shares receive newly issued common shares of their Acquiring Fund, the aggregate net asset value of which equal the aggregate net asset value of the common shares of the Acquired Fund held immediately prior to the reorganization (including for this purpose fractional Acquiring Fund shares to which shareholders are entitled). Fractional shares are sold on the open market and shareholders received cash in lieu of such fractional shares. Holders of preferred shares of each Acquired Fund receive on a one-for-one basis newly issued preferred shares of their Acquiring Fund, in exchange for preferred shares of the Acquired Fund held immediately prior to the reorganizations.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">One important factor impacting the return of the Funds relative to their benchmarks was the Funds&#8217; use of leverage. The Funds use leverage because their managers believe that, over time, leveraging provides opportunities for additional income and total return for common shareholders. However, use of leverage also can expose common shareholders to additional volatility. For example, as the prices of securities held by a Fund decline, the negative impact of these valuation changes on common share net asset value and common shareholder total return is magnified by the use of leverage. Conversely, leverage may enhance common share returns during periods when the prices of securities held by a Fund generally are rising. Leverage had a negative impact on the performance of the Funds over this reporting period.</font></font></div>

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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Effective Leverage*</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38.37</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40.51</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40.53</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">41.79</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">39.42</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
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<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Regulatory Leverage*</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30.53</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30.27</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32.79</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34.85</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34.50</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*</font></div>
</td>
<td align="left" valign="top" width="98%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Effective leverage is a Fund&#8217;s effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund&#8217;s portfolio that increase the Fund&#8217;s investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Regulatory leverage consists of preferred shares issued or borrowings of a Fund. Both of these are part of a Fund&#8217;s capital structure. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9</font></div>
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</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Fund Leverage </font>(continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">THE FUNDS&#8217; REGULATORY LEVERAGE</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, the Funds have issued and outstanding MuniFund Term Preferred (MTP) Shares and/or Variable Rate Demand Preferred (VRDP) Shares as shown in the accompanying table.</font></font></div>

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<td valign="bottom" width="19%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="11" valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">MTP Shares</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">VRDP Shares</font></div>
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<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="9%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares Issued at Liquidation Value</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="3" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Annual </font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Interest Rate</font></div>
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<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NYSE /</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NYSE MKT </font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ticker</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares Issued at Liquidation Value</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
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<td align="left" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NCU</font></div>
</td>
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<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250,000</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.00</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NCU PRC</font></div>
</td>
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<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250,000</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250,000</font></div>
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<td align="left" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NAC</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
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<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200,000</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200,000</font></font></div>
</div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></font></div>
</td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200,000</font></font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX**</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">27,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.35</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRA</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="19%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014-1</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">46,294,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.25</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRB</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">86,250,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.95</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRC</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,544,500</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,544,500</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NKX</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="19%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42,700,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="19%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">109,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
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</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">104,400,000</font></div>
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<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,600,000</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,600,000</font></div>
</td>
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</tr></table>
</div>

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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**</font></div>
</td>
<td align="left" valign="top" width="98%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Does not include MTP Shares noticed for redemption.</font></div>
</td>
</tr></table>
</div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On August 29, 2013, NVX issued 980 VRDP Shares to qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act of 1933. The proceeds of this issuance were used to redeem all series of the Fund&#8217;s MTP Shares, at their $10.00 liquidation value per share plus an additional amount representing any dividend amounts owed, on September 9, 2013 (subsequent to the close of this reporting period.)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Subsequent to the close of this reporting period, NZH redeemed all series of its MTP Shares, at their $10.00 liquidation value per share plus an additional amount representing any dividend amounts owed, with the proceeds of newly issued VRDP Shares. On September 26, 2013, VRDP Shares were issued to qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act of 1933 and NZH&#8217;s MTP Shares were redeemed on October 7, 2013.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Refer to Notes to Financial Statements, Note 1 &#8211; General Information and Significant Accounting Policies for further details on MTP and VRDP Shares.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
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<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Common Share Information</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">COMMON SHARE DIVIDENDS INFORMATION</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During the current reporting period ended August 31, 2013, the Funds&#8217; monthly dividends to common shareholders were as shown in the accompanying table.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="15" valign="bottom" width="59%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per Common Share Amounts</font></div>
</td>
</tr><tr>
<td valign="bottom" width="40%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">March</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0750</font></div>
</td>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0670</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">April</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0750</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0670</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">May</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0750</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0670</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">June</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0750</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0670</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">July</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0750</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0670</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">August</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0750</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0670</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.0700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="40%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Market Yield**</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.56%</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.23%</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.05%</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.97%</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.98%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Taxable-Equivalent Yield**</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05%</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.07%</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.80%</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.67%</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.69%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**</font></div>
</td>
<td align="left" valign="top" width="98%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Market Yield is based on the Fund&#8217;s current annualized monthly dividend divided by the Fund&#8217;s current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 34.7%. When comparing a Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">All of the Funds in this report seek to pay stable dividends at rates that reflect each Fund&#8217;s past results and projected future performance. During certain periods, each Fund may pay dividends at a rate that may be more or less than the amount of net investment income actually earned by the Fund during the period. If a Fund has cumulatively earned more than it has paid in dividends, it holds the excess in reserve as undistributed net investment income (UNII) as part of the Fund&#8217;s NAV. Conversely, if a Fund has cumulatively paid dividends in excess of its earnings, the excess constitutes negative UNII that is likewise reflected in the Fund&#8217;s NAV. Each Fund will, over time, pay all of its net investment income as dividends to shareholders. As of August 31, 2013, all of the Funds in this report had positive UNII balances, based on our best estimate, for tax and positive UNII balances for financial reporting purposes.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">COMMON SHARE REPURCHASES</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, and since the inception of the Funds&#8217; repurchase programs, the Funds have cumulatively repurchased and retired their outstanding common shares as shown in the accompanying table. Since the inception of the Funds&#8217; repurchase programs, NAC and NKX have not repurchased any of their outstanding common shares.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common Shares Cumulatively Repurchased and Retired</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">44,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">50,700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,900</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common Shares Authorized for Repurchase</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">575,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,350,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,475,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,415,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,185,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During the current reporting period, the Funds did not repurchase any of their outstanding common shares.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Common Share Information </font>(continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">COMMON SHARE EQUITY SHELF PROGRAMS</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The following Funds are authorized to issue additional common shares through their ongoing equity shelf program. Under this program, each Fund, subject to market conditions, may raise additional capital from time to time in varying amounts and offering methods at a net price at or above the Fund&#8217;s NAV per common share.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="67%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Additional Common Shares Authorized</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,300,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,100,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During the current reporting period, NAC and NKX did not sell common shares through their equity shelf programs.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Refer to Notes to Financial Statements, Note 1 &#8211; General Information and Significant Accounting Policies for further details on the Funds&#8217; Equity Shelf Programs.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">OTHER COMMON SHARE INFORMATION</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, and during the current reporting period, the Funds&#8217; common share prices were trading at a premium/(discount) to their common share NAVs as shown in the accompanying table.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="40%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common Share NAV</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.99</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.33</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.61</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.35</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.23</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common Share Price</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.80</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.28</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.76</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.54</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.04</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Premium/(Discount) to NAV</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8.51</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.88</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6.25</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6.56</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8.99</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6-Month Average Premium/(Discount) to NAV</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.25</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.69</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Past performance is no guarantee of future results. Fund common shares are subject to a variety of risks, including:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Investment, Market and Price Risk. </font>An investment in common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the municipal securities owned by the Fund, which generally trade in the over-the-counter markets. Shares of closed-end investment companies like these Funds frequently trade at a discount to their net asset value (NAV). Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Leverage Risk. </font>Each Fund&#8217;s use of leverage creates the possibility of higher volatility for the Fund&#8217;s per share NAV, market price, distributions and returns. There is no assurance that a Fund&#8217;s leveraging strategy will be successful.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Risk. </font>The tax treatment of Fund distributions may be affected by new IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Issuer Credit Risk. </font>This is the risk that a security in a Fund&#8217;s portfolio will fail to make dividend or interest payments when due.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Interest Rate Risk. </font>Fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value if market interest rates rise.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Reinvestment Risk. </font>If market interest rates decline, income earned from a Fund&#8217;s portfolio may be reinvested at rates below that of the original bond that generated the income.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Call Risk or Prepayment Risk. </font>Issuers may exercise their option to prepay principal earlier than scheduled, forcing a Fund to reinvest in lower-yielding securities.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Inverse Floater Risk. </font>The Funds invest in inverse floaters. Due to their leveraged nature, these investments can greatly increase a Fund&#8217;s exposure to interest rate risk and credit risk. In addition, investments in inverse floaters involve the risk that the Fund could lose more than its original principal investment.</font></font></div>

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<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Performance Overview and Holding Summaries as of August 31, 2013</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual Total Returns as of August 31, 2013</font></font></div>

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</td>
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<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NCU at Common Share NAV</font></div>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9.71</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6.38</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.45</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.97</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NCU at Common Share Price</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(16.47</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(10.44</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.83</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.96</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond California Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.98</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.05</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.99</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.74</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.50</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.55</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lipper California Municipal Debt Funds Classification Average</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.81</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.54</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Comparative index and Lipper return information is provided for the Fund&#8217;s shares at NAV only. Indexes and Lipper averages are not available for direct investment.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><img src="ncu.jpg"></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="36%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Composition<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investments)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/Limited</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33.8%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/General</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23.9%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Health Care</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">U.S. Guaranteed</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Water and Sewer</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.6%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.3%</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="36%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Credit Quality<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1,2,3</font></font></div>
</td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investment exposure)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA/U.S.Guaranteed</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.4%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32.1%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34.4%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.3%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB or Lower</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.1%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.7%</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" colspan="2" valign="top" width="121%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this page.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Holdings are subject to change.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.</font></div>
</td>
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<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
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<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Performance Overview and Holding Summaries as of August 31, 2013</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual Total Returns as of August 31, 2013</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="45%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="3" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cumulative</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td colspan="9" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual</font></div>
</td>
</tr><tr>
<td valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">6-Month</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">1-Year</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">5-Year</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">10-Year</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NAC at Common Share NAV</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13.60</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8.87</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.25</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.40</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NAC at Common Share Price</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(19.79</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(14.39</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.51</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.24</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond California Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.98</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.05</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.99</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.74</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.50</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.55</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lipper California Municipal Debt Funds Classification Average</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.81</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.54</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Comparative index and Lipper return information is provided for the Fund&#8217;s shares at NAV only. Indexes and Lipper averages are not available for direct investment.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><img src="nac.jpg"></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="34%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Composition<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td valign="top" width="14%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investments)</font></div>
</td>
<td valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/Limited</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28.1%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Health Care</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/General</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19.8%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Water and Sewer</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.3%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Consumer Staples</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">U.S. Guaranteed</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.4%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.0%</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="36%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Credit Quality<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1,2,3</font></font></div>
</td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investment exposure)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA/U.S.Guaranteed</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42.4%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">27.8%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB or Lower</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.0%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.2%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this page.</font></font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
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<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Holdings are subject to change.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.</font></div>
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<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15</font></div>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
</td>
<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 2</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Performance Overview and Holding Summaries as of August 31, 2013</font></div>
</td>
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</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual Total Returns as of August 31, 2013</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="45%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="3" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cumulative</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td colspan="9" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual</font></div>
</td>
</tr><tr>
<td valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">6-Month</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">1-Year</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">5-Year</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">10-Year</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX at Common Share NAV</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(14.24</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9.85</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.35</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.62</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX at Common Share Price</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(19.19</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(14.22</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.06</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond California Index</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.98</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.05</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.99</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.74</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.50</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.55</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lipper California Municipal Debt Funds Classification Average</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.81</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.54</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Comparative index and Lipper return information is provided for the Fund&#8217;s shares at NAV only. Indexes and Lipper averages are not available for direct investment.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><img src="nvx.jpg"></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Composition<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investments)</font></div>
</td>
<td valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/General</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23.0%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Health Care</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18.8%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/Limited</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Utilities</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.2%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">U.S. Guaranteed</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.5%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Water and Sewer</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.7%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Consumer Staples</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.4%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Education and Civic Organizations</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.7%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other</font></div>
</td>
<td align="right" valign="top" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.8%</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="36%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Credit Quality<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1,2,3</font></font></div>
</td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investment exposure)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA/U.S.Guaranteed</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.4%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16.3%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB or Lower</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.8%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Holdings are subject to change.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 3</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Performance Overview and Holding Summaries as of August 31, 2013</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual Total Returns as of August 31, 2013</font></font></div>

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<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="3" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cumulative</font></div>
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<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td colspan="9" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual</font></div>
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<td valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">6-Month</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">1-Year</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">5-Year</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">10-Year</font></div>
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<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH at Common Share NAV</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13.54</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8.91</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.66</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.07</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH at Common Share Price</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(16.41</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(12.58</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.70</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.48</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond California Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.98</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.05</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.99</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.74</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.50</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.55</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lipper California Municipal Debt Funds Classification Average</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.81</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.54</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Comparative index and Lipper return information is provided for the Fund&#8217;s shares at NAV only. Indexes and Lipper averages are not available for direct investment.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><img src="nzh.jpg"></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="34%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Composition<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td valign="top" width="14%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investments)</font></div>
</td>
<td valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/Limited</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34.2%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Health Care</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18.1%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/General</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.6%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Water and Sewer</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.9%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Utilities</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.6%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Consumer Staples</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">U.S. Guaranteed</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.4%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.7%</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="36%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Credit Quality<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1,2,3</font></font></div>
</td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investment exposure)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA/U.S.Guaranteed</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33.6%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22.9%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21.2%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB or Lower</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.7%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.5%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this page.</font></font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Holdings are subject to change.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17</font></div>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
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<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
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<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Performance Overview and Holding Summaries as of August 31, 2013</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual Total Returns as of August 31, 2013</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="45%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="3" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cumulative</font></div>
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<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td colspan="9" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Annual</font></div>
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</tr><tr>
<td valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">6-Month</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">1-Year</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">5-Year</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">10-Year</font></div>
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<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NKX at Common Share NAV</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(12.54</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8.51</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.58</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.32</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NKX at Common Share Price</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17.83</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(15.78</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.60</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.76</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond California Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.98</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.05</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">S&amp;P Municipal Bond Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5.99</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.74</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.50</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.55</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lipper California Municipal Debt Funds Classification Average</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.81</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.54</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Comparative index and Lipper return information is provided for the Fund&#8217;s shares at NAV only. Indexes and Lipper averages are not available for direct investment.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><img src="nkx.jpg"></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="34%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Composition<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td valign="top" width="14%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investments)</font></div>
</td>
<td valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/Limited</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38.0%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tax Obligation/General</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Health Care</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.5%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Water and Sewer</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.7%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">U.S. Guaranteed</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.7%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.6%</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="36%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Credit Quality<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1,2,3</font></font></div>
</td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(as a % of total investment exposure)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA/U.S.Guaranteed</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.1%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43.5%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31.8%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.8%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB or Lower</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.7%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="36%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.9%</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this page.</font></font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Holdings are subject to change.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
</td>
<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shareholder Meeting Report</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The annual meeting of shareholders for NVX was held in the offices of Nuveen Investments on November 14, 2012; at this meeting the shareholders were asked to vote on the election of Board Members, to approve the elimination of the fundamental policies relating to the Fund&#8217;s ability to make loans and to approve the new fundamental policy relating to the Fund&#8217;s ability to make loans. The meeting was subsequently adjourned to December 14, 2012, January 24, 2013, February 22, 2013 and March 14, 2013.</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="67%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common and</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="67%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Preferred</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Preferred</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="67%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">shares voting</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">shares voting</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="67%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">together</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">together</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="67%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">as a class</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">as a class</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">To approve the elimination of the fundamental</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">policies relating to the Fund&#8217;s ability to make loans.</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,380,831</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,451,978</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Against</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">737,606</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">171,651</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Abstain</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">309,910</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">65,092</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Broker Non-Votes</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,355,757</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,511,278</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,784,104</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,199,999</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">To approve the new fundamental policy relating to</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">the Fund&#8217;s ability to make loans.</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,374,303</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,451,358</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Against</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">735,592</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">173,251</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Abstain</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">318,452</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">64,112</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Broker Non-Votes</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,355,757</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,511,278</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,784,104</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,199,999</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
</td>
<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Premium Income Municipal Fund</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="87%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">August 31, 2013 (Unaudited)</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Consumer Staples &#8211; 5.6% (3.8% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Alameda County Tobacco Asset Securitization Corporation, Series 2002, 5.750%, 6/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,180,613</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">116,020</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,415</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,252,784</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">485</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.750%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">358,187</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">865</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">611,226</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,140</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Consumer Staples</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,518,830</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Education and Civic Organizations &#8211; 3.5% (2.4% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">70</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2005A, 5.000%, 10/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">70,011</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">45</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">46,671</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">60</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">61,221</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State University, Systemwide Revenue Bonds, Series 2005C, 5.000%, 11/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,127,500</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">185</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Charter School Revenue Bonds, Rocketship 4 &#8211; Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">196,781</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">300</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">310,734</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,660</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Education and Civic Organizations</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,812,918</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Health Care &#8211; 30.9% (20.9% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">335</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s Hospital &#8211; San Diego, Series 2011, 5.250%, 8/15/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">336,615</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,525</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.250%, 11/15/46 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,393,835</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">685</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Financing Authority, Certificates of Participation, Community Hospitals of Central California, Series 2007, 5.250%, 2/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">621,391</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">945,230</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">377</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554, 18.234%, 7/01/47 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">381,334</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">815</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">691,185</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,740</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.250%, 7/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,745,446</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">730</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2001C, 5.250%, 8/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">735,752</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,680</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,092,532</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health System, Series 1998A, 5.000%, 8/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,209,158</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,690</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 2005A, 5.000%, 11/15/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,609,015</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Health Care </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">760</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">823,977</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,600</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Marysville, California, Revenue Bonds, The Fremont-Rideout Health Group, Series 2011, 5.250%, 1/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,530,658</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,450</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,383,663</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A, 5.000%, 7/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">909,380</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">917,575</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,415</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital, Series 2007A, 5.750%, 2/01/41 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,454,563</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The Regents of the University of California, Medical Center Pooled Revenue Bonds, Series 2009E, 5.000%, 5/15/38</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">974,990</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,752</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Health Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,756,299</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Multifamily &#8211; 1.2% (0.8% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">490</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">503,745</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">155</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">147,687</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">350</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012B, 7.250%, 8/15/47</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">329,704</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">995</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Multifamily</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">981,136</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Single Family &#8211; 1.5% (1.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2008L, 5.500%, 8/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,167,894</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">60</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 &#8211; FGIC Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">62,689</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,210</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Single Family</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,230,583</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General &#8211; 35.3% (23.9% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2009:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,350</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,623,611</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,359,293</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2013, 5.000%, 4/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,499,860</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,475</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 5.000%, 8/01/31 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,594,438</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hartnell Community College District, California, General Obligation Bonds, Series 2006B, 5.000%, 6/01/29 &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,196,320</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Unified School District, California, General Obligation Bonds, Series 2005A-2, 5.000%, 7/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,206,670</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oxnard School District, Ventura County, California, General Obligation Bonds, Election 2012 Series 2012A, 5.000%, 8/01/37 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,697,675</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside Community College District, California, General Obligation Bonds, Series 2004A, 5.250%, 8/01/22 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,646</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,355</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose-Evergreen Community College District, Santa Clara County, California, General Obligation Bonds, Series 2005A, 5.000%, 9/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,459,281</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,345</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,604,141</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yuba Community College District, California, General Obligation Bonds, Election 2006 Series 2011C, 5.250%, 8/01/47</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,010,020</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33,090</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/General</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28,266,955</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21</font></div>
</td>
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<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
</td>
<td align="left" valign="bottom" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Premium Income Municipal Fund </font>(continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial">Portfolio of Investments</font> August 31, 2013 <font style="FONT-WEIGHT: normal">(Unaudited)</font></font></font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited &#8211; 49.9% (33.8% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, Series 2003, 5.625%, 10/01/33 &#8211; RAAI Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">828,490</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center for Self-Sufficiency Corporation, Series 2004:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,695</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 12/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,714,560</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,865</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 12/01/24 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,886,522</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,920</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Veterans Affairs, Southern California Veterans Home &#8211; Chula Vista Facility, Series 1999A, 5.600%, 11/01/19 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,942,608</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.750%, 10/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,074,670</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 6.375%, 11/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,303,080</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">535</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">556,052</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165,733</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation Bonds, Series 2006, 5.000%, 9/01/38 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">461,785</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">260</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Refunding Series 2001, 5.000%, 9/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">236,678</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">350</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana Redevelopment Agency, California, Jurupa Hills Redevelopment Project, Tax Allocation Refunding Bonds, 1997 Series A, 5.500%, 10/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">349,979</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">425</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2005A, 5.000%, 9/01/35 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">355,717</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">320</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/24 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">310,330</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Irvine Unified School District, California, Special Tax Bonds, Community Facilities District Series 2006A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">75</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">73,874</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">175</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">164,539</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Livermore Redevelopment Agency, California, Tax Allocation Revenue Bonds, Livermore Redevelopment Project Area, Series 2001A, 5.000%, 8/01/26 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,534,405</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">310</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">312,731</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Municipal Improvement Corporation, California, Lease Revenue Bonds, Police Headquarters, Series 2006A, 4.750%, 1/01/31 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,944,620</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">475</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lynwood Redevelopment Agency, California, Project A Revenue Bonds, Subordinate Lien Series 2011A, 7.250%, 9/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">529,207</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Murrieta Redevelopment Agency, California, Tax Allocation Bonds, Series 2005, 5.000%, 8/01/35 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,990,754</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">170</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 6.500%, 8/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">197,076</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">65</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">69,102</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">450</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">431,442</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">405</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">393,308</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">70</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B , 5.875%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">67,342</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%" style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">60</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">60,227</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.125%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">134,017</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">540</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">551,869</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

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<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">210</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">219,299</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43,602</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville, California, Special Tax Bonds, Community Facilities District 1, Fiddyment Ranch, Series 2005, 5.050%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,382,445</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, 5.400%, 11/01/20 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,676,430</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993B, 5.400%, 11/01/20</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,352,860</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Series 2012A, 5.000%, 4/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,020,250</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,700</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, San Francisco Redevelopment Projects, Series 1998D, 0.000%, 8/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,537,029</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County, California, Certificates of Participation, Multiple Capital Improvement Projects, Series 2009A, 5.200%, 4/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,106,320</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32,889</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32,198</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42,303</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">100,031</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">275</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">272,555</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">360</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006D, 5.000%, 8/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">362,786</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">50</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">51,385</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">95</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.000%, 9/01/26</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">101,958</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40,625</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/Limited</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">39,975,057</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Transportation &#8211; 3.4% (2.3% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">220</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2008, Trust 3211, 13.465%, 10/01/32 (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">249,861</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 5.000%, 1/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,899,240</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">580</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Port of Oakland, California, Revenue Refunding Bonds, Series 2012P, 5.000%, 5/01/29 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">571,909</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,800</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Transportation</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,721,010</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed &#8211; 8.0% (5.5% of Total Investments) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">780</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2006F, 5.000%, 4/01/31 (Pre-refunded 4/01/16) (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (4)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">866,549</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/22 &#8211; AGM Insured (ETM)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aaa</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,531,420</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,112</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, University of California Regents, Tender Option Bond Trust 1065, 9.261%, 3/01/33 (Pre-refunded 3/01/18) (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (4)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,142,402</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">370</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15 (Pre-refunded 7/01/14)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aaa</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">384,878</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (4)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">146,925</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23</font></div>
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<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NCU</font></div>
</td>
<td align="left" valign="bottom" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Premium Income Municipal Fund </font>(continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial">Portfolio of Investments</font>&#160;&#160;<font style="FONT-WEIGHT: bold; DISPLAY: inline">August 31, 2013 </font><font style="FONT-WEIGHT: normal">(Unaudited)</font></font></font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed (4) </font>(continued)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">325</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Mateo Union High School District, San Mateo County, California, Certificates of Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (4)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">376,870</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,722</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total U.S. Guaranteed</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,449,044</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Utilities &#8211; 1.5% (1.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">890</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.500%, 11/15/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">886,031</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">295</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 9/01/31 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,077</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,185</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Utilities</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,177,108</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer &#8211; 6.8% (4.6% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Burbank, California, Wastewater System Revenue Bonds, Series 2004A, 5.000%, 6/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,161,225</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,275</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside Desalination Project, Series 2012, 5.000%, 11/21/45 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,786,307</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">205</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 5.000%, 4/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">205,238</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">670</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Tender Option Bond Trust 09-8B, 17.523%, 7/01/35 (IF) (5)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">738,635</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Orange County Water District, California, Revenue Certificates of Participation, Tender Option Bond Trust 11782-1, 17.816%, 2/15/35 (IF)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,581,600</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,775</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Water and Sewer</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,473,005</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">123,954</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Investments (cost $115,676,474) &#8211; 147.6%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">118,361,945</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating Rate Obligations &#8211; (6.9)%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5,525,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MuniFund Term Preferred Shares, at Liquidation Value &#8211; (43.9)% (6)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(35,250,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other Assets Less Liabilities &#8211; 3.2%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,628,168</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net Assets Applicable to Common Shares &#8211; 100%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">80,215,113</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings: Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 29.8%.</font></div>
</td>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(ETM)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Escrowed to maturity.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inverse floating rate investment.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(UB)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
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<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Consumer Staples &#8211; 7.5% (4.9% of Total Investments)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">540</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
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<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">501,206</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,615</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,224,796</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,895</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,939,968</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,255</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,833,148</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32,305</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Consumer Staples</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23,499,118</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Education and Civic Organizations &#8211; 5.4% (3.6% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, Santa Clara University, Series 2010, 5.000%, 2/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,559,125</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">290</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2005A, 5.000%, 10/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">290,044</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of Southern California, Series 2007A, 4.500%, 10/01/33 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,792,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">207,428</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">265</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">270,393</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,294,725</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">565</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Notre Dame de Namur University, Series 2003, 6.500%, 10/01/23</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">565,141</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">University of California, General Revenue Bonds, Series 2013AF, 5.000%, 5/15/29</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,118,180</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,070</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Education and Civic Organizations</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,097,436</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Health Care &#8211; 31.1% (20.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,815</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2008J, 5.625%, 7/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,854,371</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center, Series 2009, 5.000%, 8/15/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,468,995</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,420</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s Hospital &#8211; San Diego, Series 2011, 5.250%, 8/15/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,426,844</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,895</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.250%, 11/15/46 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,340,757</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2011B, 6.000%, 8/15/42 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,194,232</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,120</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,058,658</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2012A, 5.000%, 4/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,924,880</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,586</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554, 18.234%, 7/01/47 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,606,364</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series 2011A, 6.000%, 8/15/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,059,460</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,325</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,819,866</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">25</font></div>
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</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
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<hr style="COLOR: black" noshade size="2">
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
</td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund </font>(continued)</font></div>
</td>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Health Care </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,760</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 7/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,792,226</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,870</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 7/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,882,113</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 7/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">149,507</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,140</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System, Series 2006, 5.000%, 3/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,780,334</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,095</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2001C, 5.250%, 8/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,119,389</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,980</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2006, 5.000%, 3/01/41 &#8211; BHAC Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,950,359</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,010</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,319,399</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 2008B, 5.250%, 11/15/48</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,832,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2005A, 5.000%, 12/01/23</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">985,540</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,860</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,100,755</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Madera County, California, Certificates of Participation, Children&#8217;s Hospital Central California, Series 2010, 5.375%, 3/15/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">996,090</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">675</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oak Valley Hospital District, Stanislaus County, California, Revenue Bonds, Series 2010A, 6.500%, 11/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">659,435</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,450</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,200,663</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,570</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A, 5.000%, 7/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,337,107</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,778,250</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital, Series 2007A, 5.750%, 2/01/41 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,083,880</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,751</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Health Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,722,274</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Multifamily &#8211; 2.2% (1.4% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,985</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,040,679</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,600</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.125%, 8/15/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,419,312</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">320</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Independent Cities Lease Finance Authority, California, Mobile Home Park Revenue Bonds, San Juan Mobile Estates, Series 2006B, 5.850%, 5/15/41</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">299,619</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,905</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Multifamily</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,759,610</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Single Family &#8211; 0.6% (0.4% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">225</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 &#8211; FGIC Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">235,085</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,395</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Tender Option Bond Trust 3206, 8.413%, 2/01/29 (Alternative Minimum Tax) (IF)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,528,896</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,620</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Single Family</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,763,981</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Industrials &#8211; 0.0% (0.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,120</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, EnerTech Regional Biosolids Project, Series 2007A, 5.500%, 12/01/33 (Alternative Minimum Tax) (4)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">D</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">57,498</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Long-Term Care &#8211; 0.4% (0.2% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series 2009, 8.000%, 11/01/29</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa1</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,146,910</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General &#8211; 30.0% (19.8% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2012A, 5.000%, 8/01/29 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,093,510</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Alvord Unified School District, Riverside County, California, General Obligation Bonds, 2007 Election Series 2011B:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/41 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,810,870</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,840</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/43 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,701,473</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Refunding Series 2012, 5.000%, 9/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,492,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Refunding Series 2013, 5.000%, 2/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,083,820</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2009, 6.000%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,164,300</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2010:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 3/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,637,750</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 3/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,278,000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 11/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,015,440</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 10/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,349,550</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,065,220</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,330</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,316,837</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,435</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Refunding Bonds, Series 2002, 6.000%, 4/01/16 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,040,954</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,425</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 5.000%, 8/01/31 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,516,413</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hacienda La Puente Unified School District Facilities Financing Authority, California, General Obligation Revenue Bonds, Series 2007, 5.000%, 8/01/26 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,453,644</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Unified School District, California, General Obligation Bonds, Series 2005A-2, 5.000%, 7/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,206,670</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,210</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oak Valley Hospital District, Stanislaus County, California, General Obligation Bonds, Series 2005, 5.000%, 7/01/35 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,244,594</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Community College District, California, General Obligation Bonds, Refunding Series 2011, 5.000%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,075,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">50,070</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,624,844</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">155,960</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/General</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">94,172,089</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited &#8211; 42.7% (28.1% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Beaumont Financing Authority, California, Local Agency Revenue Bonds, Series 2004D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 9/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,013,920</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">615</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.800%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">609,717</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,910</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Borrego Water District, California, Community Facilities District 2007-1 Montesoro, Special Tax Bonds, Series 2007, 5.750%, 8/01/25 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">504,737</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.750%, 10/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,074,670</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 6.375%, 11/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,303,080</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">710</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">713,152</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,905</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Carson Redevelopment Agency, California, Redevelopment Project Area 1 Tax Allocation Bonds, Series 2009A, 7.000%, 10/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,180,975</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,225</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation Bonds, Series 2006, 5.000%, 9/01/38 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,131,373</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,480</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Commerce Joint Power Financing Authority, California, Tax Allocation Bonds, Redevelopment Projects 2 and 3, Refunding Series 2003A, 5.000%, 8/01/28 &#8211; RAAI Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,381,698</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,040</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Refunding Series 2001, 5.000%, 9/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">946,712</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">27</font></div>
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<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
</td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund </font>(continued)</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,430</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana Redevelopment Agency, California, Jurupa Hills Redevelopment Project, Tax Allocation Refunding Bonds, 1997 Series A, 5.500%, 10/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,429,914</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,890</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana, California, Senior Special Tax Refunding Bonds, Heritage Village Community Facilities District 2, Series 1998A, 5.250%, 9/01/17 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,927,050</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana, California, Special Tax Bonds, Sierra Community Facilities District 22, Series 2004, 6.000%, 9/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,128,780</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige Heights, Refunding Series 2012, 5.000%, 9/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">965,500</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,980</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Garden Grove, California, Certificates of Participation, Financing Project, Series 2002A, 5.500%, 3/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,015,780</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2013A, 5.000%, 6/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">994,310</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31,090</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/35 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30,401,976</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2005A, 5.000%, 9/01/35 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,385,393</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Unified School District, San Bernardino County, California, Certificates of Participation, Series 2013A, 5.000%, 2/01/38 &#8211; BAM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,424,910</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Refunding Series 1998A, 5.250%, 5/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,626,810</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,285</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/25 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,230,645</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Irvine Unified School District, California, Special Tax Bonds, Community Facilities District Series 2006A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">325</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">320,119</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">755</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">709,866</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">675</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lammersville School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2002 Mountain House, Series 2006, 5.125%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">598,104</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lindsay Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2007, 5.000%, 8/01/37 &#8211; RAAI Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">884,210</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,290</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,310,175</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,650</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Multiple Capital Facilities Project II, Series 2012, 5.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,579,463</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Moreno Valley Unified School District, Riverside County, California, Certificates of Participation, Series 2005, 5.000%, 3/01/24 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,561,227</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Murrieta Redevelopment Agency, California, Tax Allocation Bonds, Series 2007A, 5.000%, 8/01/37 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,264,170</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">695</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 6.500%, 8/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">805,693</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Norco Redevelopment Agency, California, Tax Allocation Refunding Bonds, Project Area 1, Series 2001, 5.000%, 3/01/19 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,218,952</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">240</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">North Natomas Community Facilities District 4, Sacramento, California, Special Tax Bonds, Series 2006D, 5.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">225,828</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">260</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">276,406</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,290</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oakland Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Central District Redevelopment Project, Series 2003, 5.500%, 9/01/16 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,300,232</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project Areas, Series 2004, 5.000%, 12/01/24 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,010,950</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,820</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,744,943</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,635</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,587,798</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B , 5.875%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">288,609</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">245</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">245,926</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.125%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">526,142</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pico Rivera Water Authority, California, Revenue Bonds, Series 2001A, 6.250%, 12/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,250,743</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,130</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,176,817</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,570</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment Project, Series 2000, 5.750%, 6/15/33 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,512,412</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/26 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,655,580</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">845</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">882,417</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">163,506</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,860</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Project Areas, Series 2003, 5.250%, 8/01/22 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,865,971</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, 5.400%, 11/01/20 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,794,050</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2009C, 6.500%, 8/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,082,370</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">120</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">131,555</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">134,160</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">155</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">163,925</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Housing Set-Aside Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2010A-1, 5.500%, 8/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,007,960</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2005A, 5.000%, 8/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">999,960</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,100,341</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,235</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,224,021</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Ana Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2011A, 6.750%, 9/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,640,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">205</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">210,676</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Turlock Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2011, 7.500%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,257,204</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Washington Unified School District, Yolo County, California, Certificates of Participation, Series 2007, 5.125%, 8/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,002,240</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Westminster Redevelopment Agency, California, Tax Allocation Bonds, Commercial Redevelopment Project 1, Police Facility Subordinate Series 2009, 6.250%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,462,200</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">160,986</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">210</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.500%, 9/01/32</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">231,149</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135,280</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/Limited</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">133,960,258</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Transportation &#8211; 3.7% (2.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999, 5.750%, 1/15/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,365,263</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">29</font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NAC</font></div>
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<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund </font>(continued)</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Transportation </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2010D, 5.000%, 5/15/40 (UB) (5)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,254,850</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">120</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palm Springs Financing Authority, California, Palm Springs International Airport Revenue Bonds, Series 2006, 5.450%, 7/01/20 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">118,711</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,520</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Transportation</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,738,824</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed &#8211; 6.7% (4.4% of Total Investments) (6)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,430</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2006F, 5.000%, 4/01/31 (Pre-refunded 4/01/16) (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,588,673</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,685</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, University of California Regents, Tender Option Bond Trust 1065, 9.261%, 3/01/33 (Pre-refunded 3/01/18) (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,813,088</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">655</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Thomas Jefferson School of Law, Series 2005A, 4.875%, 10/01/31 (Pre-refunded 10/01/15)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">701,472</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,630</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Imperial Irrigation District, California, Certificates of Participation, Electric System Revenue Bonds, Series 2003, 5.250%, 11/01/23 (Pre-refunded 11/01/13) &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,661,182</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,725</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Newport Beach, California, Revenue Bonds, Hoag Memorial Hospital Presbyterian, Series 2011A, 6.000%, 12/01/40 (Pre-refunded 12/01/21)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,169,308</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,840</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Orange County Water District, California, Revenue Certificates of Participation, Series 1999A, 5.375%, 8/15/29 (ETM)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,875,257</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">575</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">625,790</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">600</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 01-1, Refunding Series 2009A, 8.625%, 9/01/39 (Pre-refunded 9/01/14)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 105.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">680,208</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,140</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total U.S. Guaranteed</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21,114,978</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Utilities &#8211; 6.0% (3.9% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,775</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.000%, 11/15/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,565,827</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2005A-1, 5.000%, 7/01/31 &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,740,625</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,355</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2013B, 5.000%, 7/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,525,031</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Tender Option Bond Trust 3345, 18.033%, 7/01/20 (IF) (5)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,127,320</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,270</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 9/01/31 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,253,109</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento Municipal Utility District, California, Electric Revenue Bonds, Tender Option Bond Trust 1186, 17.265%, 8/15/41 (IF) (5)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,538,700</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Utilities</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18,750,612</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer &#8211; 15.6% (10.3% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,107,360</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,154,621</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside Desalination Project, Series 2012:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,265</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 7/01/37 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,027,344</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,475</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/21/45 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,084,105</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">875</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 5.000%, 4/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">876,015</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Indio Water Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 4/01/31 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,539,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,955</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2011A, 5.250%, 7/01/39 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,359,671</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">835</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006, 5.000%, 6/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">838,340</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2006, 5.000%, 12/01/31 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,305,890</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Public Facilities Financing Authority, California, Sewerage Revenue Bonds, Refunding Series 2010A, 5.250%, 5/15/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,105,610</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,580</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2011A, 5.000%, 11/01/41 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,643,054</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Tender Option Bond Trust 2013-4A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17.998%, 11/01/28 (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">937,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18.098%, 11/01/43 (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">787,710</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">West Basin Municipal Water District, California, Certificates of Participation, Refunding Series 2008B, 5.000%, 8/01/28 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,079,580</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">48,335</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Water and Sewer</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">48,846,900</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">552,406</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Investments (cost $479,975,881) &#8211; 151.9%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">476,630,488</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating Rate Obligations &#8211; (13.8)%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(43,400,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred Shares, at Liquidation Value &#8211; (43.4)% (7)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(136,200,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other Assets Less Liabilities &#8211; 5.3%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,724,140</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net Assets Applicable to Common Shares &#8211; 100%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,754,628</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings: Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7)</font></div>
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<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 28.6%.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(ETM)</font></div>
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<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Escrowed to maturity.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(IF)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inverse floating rate investment.</font></div>
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<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(UB)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
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<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 2</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="87%" style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">August 31, 2013 (Unaudited)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Consumer Staples &#8211; 7.9% (5.4% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">330</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">306,293</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,775</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Stanislaus County Tobacco Funding Corporation, Series 2002A, 5.500%, 6/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,784,407</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,540</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,261,166</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,270</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">851,040</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,660</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,586,229</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,575</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Consumer Staples</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,789,135</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Education and Civic Organizations &#8211; 5.4% (3.7% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,775</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, The Jackson Laboratory, Series 2012, 5.000%, 7/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,748,144</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,745</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of Southern California, Tender Option Bond Trust 09-11B, 17.670%, 10/01/38 (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,900,861</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">129,643</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">168,358</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,915</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Student Loan Revenue Bonds, Cal Loan Program, Series 2001A, 5.400%, 3/01/21 &#8211; NPFG Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,916,341</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Revenue Bonds, University of La Verne, Series 2010A, 6.250%, 6/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,571,675</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">880,413</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">565</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Notre Dame de Namur University, Series 2003, 6.500%, 10/01/23</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">565,141</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,640</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Education and Civic Organizations</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,880,576</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Health Care &#8211; 27.5% (18.8% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2008J, 5.625%, 7/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,525,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">895</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s Hospital &#8211; San Diego, Series 2011, 5.250%, 8/15/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">899,314</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,260</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.250%, 11/15/46 (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,915,435</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,215</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Financing Authority, Certificates of Participation, Community Hospitals of Central California, Series 2007, 5.250%, 2/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,234,853</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,520</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,381,980</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2012A, 5.000%, 4/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,079,808</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,325</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18.201%, 7/01/47 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,314,201</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">998</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18.234%, 7/01/47 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,010,308</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,225</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,886,978</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.250%, 7/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,232,728</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

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<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Health Care </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">425</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2001C, 5.250%, 8/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">428,349</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,035</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 2004D, 5.050%, 8/15/38 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,013,410</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 2005A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,705</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,575,376</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,315</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/43 (UB) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,156,145</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,168,360</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,610</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Madera County, California, Certificates of Participation, Children&#8217;s Hospital Central California, Series 2010, 5.375%, 3/15/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,603,705</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">455</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oak Valley Hospital District, Stanislaus County, California, Revenue Bonds, Series 2010A, 6.500%, 11/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">444,508</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,800</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,580,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,785</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A, 5.000%, 7/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,260,763</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,250</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,428,875</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">56,768</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Health Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55,141,296</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Multifamily &#8211; 1.4% (1.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,310</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,346,746</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">410</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">390,656</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">940</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012B, 7.250%, 8/15/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">885,489</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">205</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Independent Cities Lease Finance Authority, California, Mobile Home Park Revenue Bonds, San Juan Mobile Estates, Series 2006B, 5.850%, 5/15/41</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">191,944</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,865</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Multifamily</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,814,835</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Single Family &#8211; 3.3% (2.3% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,490</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2007G, 5.050%, 2/01/29 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,416,245</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 &#8211; FGIC Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">141,051</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,775</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006M, 4.650%, 8/01/31 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,126,872</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Single Family</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,684,168</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Industrials &#8211; 0.0% (0.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,175</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, EnerTech Regional Biosolids Project, Series 2007A, 5.500%, 12/01/33 (Alternative Minimum Tax) (5)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">D</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,655</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General &#8211; 33.6% (23.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2012A, 5.000%, 8/01/29 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,340,521</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Series 2006CD, 4.600%, 12/01/32 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,030,300</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2009, 6.000%, 4/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,340,674</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2010:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 3/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,255,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 11/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,015,440</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 10/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,189,064</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,293,123</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,190</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,183,342</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NVX</font></div>
</td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 2 </font>(continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2013, 5.000%, 2/01/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,493,070</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32,730</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Desert Community College District, Riverside County, California, General Obligation Bonds, Election 2004 Series 2007C, 0.000%, 8/01/46 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,811,310</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,285</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2009D, 5.000%, 7/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,378,741</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">New Haven Unified School District, Alameda County, California, General Obligation Bonds, Series 2004A, 0.000%, 8/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,637,550</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,265</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A, 5.000%, 8/01/32 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,264,949</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,874,040</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2008, Series 2011C, 5.250%, 8/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,027,990</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,480</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,346,408</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,510</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,464,171</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,600</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yuba Community College District, California, General Obligation Bonds, Election 2006 Series 2011C, 5.250%, 8/01/47</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,616,032</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">116,390</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/General</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">67,561,825</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited &#8211; 26.2% (17.9% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Beaumont Financing Authority, California, Local Agency Revenue Bonds, Series 2004D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">650</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 9/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">659,048</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">385</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.800%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">381,693</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,190</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Borrego Water District, California, Community Facilities District 2007-1 Montesoro, Special Tax Bonds, Series 2007, 5.750%, 8/01/25 (5)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">314,469</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,245</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,293,991</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">435</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">436,931</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">700</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Series 2003, 5.000%, 9/01/33 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">628,866</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,265</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Escondido Joint Powers Financing Authority, California, Lease Revenue Bonds, Water System Financing, Series 2012, 5.000%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,091,372</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">960</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana Redevelopment Agency, California, Jurupa Hills Redevelopment Project, Tax Allocation Refunding Bonds, 1997 Series A, 5.500%, 10/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">959,942</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana, California, Special Tax Bonds, Sierra Community Facilities District 22, Series 2004, 6.000%, 9/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">752,520</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Gilroy School Facilities Financing Authority, Santa Clara County, California, Revenue Bonds, Series 2013A, 5.000%, 8/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,411,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,995</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/45 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,813,743</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,785</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hawthorne Community Redevelopment Agency, California, Project Area 2 Tax Allocation Bonds, Series 2006, 5.250%, 9/01/36 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,804,224</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,800</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Unified School District, San Bernardino County, California, Certificates of Participation, Capital Improvement, Series 2007, 5.000%, 2/01/41 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,651,824</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Unified School District, San Bernardino County, California, Certificates of Participation, Series 2013A, 5.000%, 2/01/38 &#8211; BAM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,424,910</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">870</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">860,421</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Irvine Unified School District, California, Special Tax Bonds, Community Facilities District Series 2006A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">205</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">201,921</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">470</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">441,903</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">415</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lammersville School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2002 Mountain House, Series 2006, 5.125%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">367,723</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">800</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">807,048</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,350</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Multiple Capital Facilities Project II, Series 2012, 5.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,292,288</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lynwood Redevelopment Agency, California, Project A Revenue Bonds, Subordinate Lien Series 2011A, 7.000%, 9/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">818,243</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">475</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 6.500%, 8/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">550,653</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">475</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">North Natomas Community Facilities District 4, Sacramento, California, Special Tax Bonds, Series 2006D, 5.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">446,951</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">175</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">186,043</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Orange County, California, Special Tax Bonds, Community Facilities District 02-1 of Ladera Ranch, Series 2003A, 5.550%, 8/15/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000,340</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,210</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,160,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,090</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,058,532</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B , 5.875%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">192,406</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165,624</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">360</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.125%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">357,379</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,085</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,152,808</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/26 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,138,950</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">550</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">574,354</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">270</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005A, 5.000%, 9/01/35 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">251,265</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">109,004</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura Redevelopment Agency, California, Merged Project Areas Tax Allocation Bonds, Series 2008:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.750%, 8/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,096,760</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,325</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.000%, 8/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,424,587</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">990</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego, California, Special Tax Community Facilities District 4 Black Mountain Ranch Villages Bonds, Series 2008A, 6.000%, 9/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,002,335</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">80</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">87,703</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">85</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">91,229</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">105</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">111,046</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/24 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,100,341</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">765</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">758,199</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">995</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006D, 5.000%, 8/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,002,701</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Marcos Public Facilities Authority, California, Tax Allocation Bonds, Project Areas 2 and 3, Series 2005C, 5.000%, 8/01/35 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,423,971</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">140</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">143,877</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 2 </font>(continued)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="top" width="11%">
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<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,500</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ventura County Public Financing Authority, California, Lease Revenue Bonds Series 2013A, 5.000%, 11/01/38</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,336,005</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">240</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">264,170</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55,030</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/Limited</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">52,602,213</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Transportation &#8211; 5.1% (3.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,430</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2008, Trust 3211, 13.465%, 10/01/32 (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,624,094</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999, 5.875%, 1/15/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,055,650</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,545</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Port of Oakland, California, Revenue Refunding Bonds, Series 2012P, 5.000%, 5/01/29 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,523,447</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,975</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Transportation</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,203,191</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed &#8211; 12.4% (8.5% of Total Investments) (6)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,930</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2006F, 5.000%, 4/01/31 (Pre-refunded 4/01/16) (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,144,153</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,900</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Series 2003C, 5.500%, 6/01/16 (Pre-refunded 12/01/13)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,965,905</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,945</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, University of California Regents, Tender Option Bond Trust 1065, 9.261%, 3/01/33 (Pre-refunded 3/01/18) (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,025,516</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">860</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15 (Pre-refunded 7/01/14)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aaa</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">894,581</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">415</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Thomas Jefferson School of Law, Series 2005A, 4.875%, 10/01/31 (Pre-refunded 10/01/15)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">444,444</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Daly City Housing Development Finance Agency, California, Mobile Home Park Revenue Bonds, Franciscan Mobile Home Park Project, Series 2002A, 5.850%, 12/15/32 (Pre-refunded 12/15/13)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,145,360</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lake Elsinore Public Finance Authority, California, Local Agency Revenue Refunding Bonds, Series 2003H, 6.000%, 10/01/20 (Pre-refunded 10/01/13)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,049,380</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 2002E, 6.000%, 8/01/26 (ETM)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211; (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,423,780</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">355</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">386,357</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,700</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Wastewater Revenue Certificates of Participation, Series 2004, 5.000%, 3/01/24 (Pre-refunded 3/01/14) &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,740,851</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">825</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Mateo Union High School District, San Mateo County, California, Certificates of Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">956,670</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,315</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">University of California, Limited Project Revenue Bonds, Series 2007D, 5.000%, 5/15/41 (Pre-refunded 5/15/16) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/16 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,305,151</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">415</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 01-1, Refunding Series 2009A, 8.625%, 9/01/39 (Pre-refunded 9/01/14)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 105.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">470,477</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23,660</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total U.S. Guaranteed</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,952,625</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Utilities &#8211; 15.0% (10.2% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Anaheim Public Finance Authority, California, Second Lien Electric Distribution Revenue Bonds, Series 2004, 5.250%, 10/01/21 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,237,600</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,355</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.000%, 11/15/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,224,509</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2005A-1, 5.000%, 7/01/31 &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">521,875</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2012B, 5.000%, 7/01/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,148,540</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Tender Option Bond Trust 3345, 18.033%, 7/01/20 (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">260,610</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%" style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">790</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/31 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">779,493</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/36 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,462,845</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Utilities </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Southern California Public Power Authority, California, Milford Wind Corridor Phase I Revenue Bonds, Series 2010-1, 5.000%, 7/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,581,345</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A, 5.000%, 11/01/33</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,861,000</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">29,895</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Utilities</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30,077,817</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer &#8211; 8.4% (5.7% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A, 5.000%, 10/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,658,425</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,240</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside Desalination Project, Series 2012, 5.000%, 11/21/45 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,114,396</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,400</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Castaic Lake Water Agency, California, Certificates of Participation, Series 2006C, 5.000%, 8/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,401,820</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">545</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 5.000%, 4/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">545,632</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Metropolitan Water District of Southern California, Water Revenue Bonds, 2006 Authorization Series 2007A, 5.000%, 7/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,047,000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,160</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Tender Option Bond Trust 09-8B, 17.523%, 7/01/35 (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,278,830</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Orange County Water District, California, Revenue Certificates of Participation, Tender Option Bond Trust 11782-1, 17.816%, 2/15/35 (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,581,600</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2006, 5.000%, 12/01/31 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">768,630</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2009B, 5.000%, 11/01/39</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,412,480</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,495</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Water and Sewer</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,808,813</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">353,868</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Investments (cost $299,183,367) &#8211; 146.2%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">293,552,149</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating Rate Obligations &#8211; (4.7)%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,380,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred Shares, at Liquidation Value &#8211; (48.8)% (7)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(98,000,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other Assets Less Liabilities &#8211; 7.3%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,665,906</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net Assets Applicable to Common Shares &#8211; 100%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200,838,055</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings: Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5)</font></div>
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<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 33.4%.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(ETM)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Escrowed to maturity.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(IF)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inverse floating rate investment.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(UB)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">37</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
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<td valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 3</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="87%" style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">August 31, 2013 (Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Consumer Staples &#8211; 7.9% (5.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">540</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">501,206</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,485</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,390,257</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,325</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,238,446</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,265</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,426,974</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32,615</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Consumer Staples</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23,556,883</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Education and Civic Organizations &#8211; 5.7% (4.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">290</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2005A, 5.000%, 10/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">290,044</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,160</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of San Francisco, Series 2011, 6.125%, 10/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,369,930</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">207,428</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">270</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">275,495</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,002,070</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,275</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Educational Facilities Authority, Student Loan Revenue Bonds, Cal Loan Program, Series 2001A, 5.400%, 3/01/21 &#8211; NPFG Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,275,893</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State University, Systemwide Revenue Bonds, Series 2005C, 5.000%, 11/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,382,500</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,346,514</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">560</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Notre Dame de Namur University, Series 2003, 6.500%, 10/01/23</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">560,140</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">University of California, General Revenue Bonds, Series 2013AF, 5.000%, 5/15/29</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,177,270</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,055</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Education and Civic Organizations</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,887,284</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Health Care &#8211; 25.9% (18.1% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2008J, 5.625%, 7/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,525,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,445</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s Hospital &#8211; San Diego, Series 2011, 5.250%, 8/15/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,451,965</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,765</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2009A, 5.750%, 7/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,902,158</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2011B, 6.000%, 8/15/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,889,072</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,735</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Tender Option Bonds Trust 3765, 19.037%, 5/15/39 (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,179,419</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,639,136</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,650</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2007B, 5.000%, 3/01/37 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,626,438</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2012A, 5.000%, 4/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">962,440</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,594</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554, 18.234%, 7/01/47 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,613,961</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Health Care </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,875</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series 2011A, 6.000%, 8/15/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,777,765</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,435</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,913,155</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Insured Health Facility Revenue Bonds, Catholic Healthcare West, Series 2008K, 5.500%, 7/01/41 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,594,950</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,330</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.250%, 7/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,322,334</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">645</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2001C, 5.250%, 8/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">650,083</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,860</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,085,578</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,600</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 3102, 18.765%, 11/15/46 (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,766,776</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,950</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,198,331</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Marysville, California, Revenue Bonds, The Fremont-Rideout Health Group, Series 2011, 5.250%, 1/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,893,320</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">695</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oak Valley Hospital District, Stanislaus County, California, Revenue Bonds, Series 2010A, 6.500%, 11/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">678,973</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,023,110</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,650</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,300,013</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,790</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 7/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,265,310</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 7/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,191,900</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,670,300</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">78,299</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Health Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">77,122,287</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Multifamily &#8211; 1.4% (1.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,010</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,066,381</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,020</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,924,696</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">325</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Independent Cities Lease Finance Authority, California, Mobile Home Park Revenue Bonds, San Juan Mobile Estates, Series 2006B, 5.850%, 5/15/41</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">304,301</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,355</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Multifamily</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,295,378</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Single Family &#8211; 3.4% (2.3% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 &#8211; FGIC Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">240,309</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Housing Finance Agency, Home Mortgage Revenue Bonds, Tender Option Bond Trust 3206:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,180</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.040%, 8/01/25 (Alternative Minimum Tax) (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,324,205</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,805</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.413%, 2/01/29 (Alternative Minimum Tax) (IF)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,428,998</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,215</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Single Family</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,993,512</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Industrials &#8211; 1.7% (1.2% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2005C, 5.125%, 11/01/23 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,053,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,205</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, EnerTech Regional Biosolids Project, Series 2007A, 5.500%, 12/01/33 (Alternative Minimum Tax) (5)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">D</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">58,452</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,205</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Industrials</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,112,252</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">39</font></div>
</td>
</tr></table>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 3 </font>(continued)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
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</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Long-Term Care &#8211; 1.3% (0.9% of Total Investments)</font></div>
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<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Insured Senior Living Revenue Bonds, Aldersly Project, Series 2002A:</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 3/01/22</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,504,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,315</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 3/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,314,908</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series 2009, 8.000%, 11/01/29</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa1</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,146,910</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,815</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Long-Term Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,966,618</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General &#8211; 16.5% (11.6% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Refunding Series 2013:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,260</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 2/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,312,807</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,710</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 2/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,755,161</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2009:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,040</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,393,947</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,659,635</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2010:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,960</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 3/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,028,110</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 11/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,015,440</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,770</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 10/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,893,741</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,130,440</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,315</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,301,882</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2012, 5.250%, 2/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,418,987</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,465</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2013, 5.000%, 4/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,464,901</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.350%, 12/01/21 &#8211; NPFG Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,015</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,120</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oxnard School District, Ventura County, California, General Obligation Bonds, Election 2012 Series 2013B, 5.000%, 8/01/43 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,069,813</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2011A, 0.000%, 8/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,332,850</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,715</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose-Evergreen Community College District, Santa Clara County, California, General Obligation Bonds, Series 2005A, 5.000%, 9/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,923,946</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,115</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election 2010 Series 2011A, 5.000%, 9/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,131,645</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Stockton Unified School District, San Joaquin County, California, General Obligation Bonds, Election 2008 Series 2011D, 0.000%, 8/01/50 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/37 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,139,612</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,431,500</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,520</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,906,991</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">85,765</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/General</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">49,326,423</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited &#8211; 48.8% (34.2% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,960</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Borrego Water District, California, Community Facilities District 2007-1 Montesoro, Special Tax Bonds, Series 2007, 5.750%, 8/01/25 (5)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">517,950</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of General Services, Series 2002B, 5.000%, 3/01/27 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,999,960</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,510</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, Hospital Addition, Series 2001A, 5.000%, 12/01/26 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,509,820</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.750%, 10/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,074,670</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,260</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2010A-1, 5.750%, 3/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,438,856</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">715</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">718,175</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,160</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation Bonds, Series 2006, 5.000%, 9/01/38 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,994,911</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,050</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Series 2003, 5.000%, 9/01/33 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">943,299</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,445</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana Redevelopment Agency, California, Jurupa Hills Redevelopment Project, Tax Allocation Refunding Bonds, 1997 Series A, 5.500%, 10/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,444,913</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana, California, Special Tax Bonds, Sierra Community Facilities District 22, Series 2004, 6.000%, 9/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,128,780</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fremont, California, Special Tax Bonds, Community Facilities District 1, Pacific Commons, Series 2005, 6.300%, 9/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,504,935</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Gilroy School Facilities Financing Authority, Santa Clara County, California, Revenue Bonds, Series 2013A, 5.000%, 8/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">941,200</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,910</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/45 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,552,327</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,310</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,295,577</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Irvine Unified School District, California, Special Tax Bonds, Community Facilities District Series 2006A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">330</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">325,043</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">760</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">714,567</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">685</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lammersville School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2002 Mountain House, Series 2006, 5.125%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">606,965</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lindsay Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2007, 5.000%, 8/01/37 &#8211; RAAI Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">884,210</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,310</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,321,541</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Bunker Hill Redevelopment Project, Series 2004L:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,715</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 3/01/18</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,725,702</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,350</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.100%, 3/01/19</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,357,547</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Multiple Capital Facilities Project II, Series 2012, 5.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,700,750</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,675</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Moreno Valley Unified School District, Riverside County, California, Certificates of Participation, Series 2005, 5.000%, 3/01/26 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,706,976</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">725</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 6.500%, 8/01/24</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">840,471</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">240</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">North Natomas Community Facilities District 4, Sacramento, California, Special Tax Bonds, Series 2006D, 5.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">225,828</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">270</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">287,037</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oakland Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Central District Redevelopment Project, Series 2003, 5.500%, 9/01/19 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,005,760</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Orange County, California, Special Tax Bonds, Community Facilities District 02-1 of Ladera Ranch, Series 2003A, 5.550%, 8/15/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000,340</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,165</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palm Desert Financing Authority, California, Tax Allocation Revenue Refunding Bonds, Project Area 1, Series 2002, 5.100%, 4/01/30 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,854,055</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,820</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,744,943</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,635</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,587,798</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B , 5.875%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">288,609</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">245</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 9/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">245,926</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">540</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.125%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">536,069</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pico Rivera Water Authority, California, Revenue Bonds, Series 2001A, 6.250%, 12/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000,270</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">41</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
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<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 3 </font>(continued)</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,185</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,233,026</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pomona Public Financing Authority, California, Revenue Refunding Bonds, Merged Redevelopment Projects, Series 2001AD, 5.000%, 2/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,977,033</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">995</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Poway Unified School District, San Diego County, California, Special Tax Bonds, Community Facilities District 14 Del Sur, Series 2006, 5.125%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">935,987</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/39 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,164,420</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/26 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,622,320</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">865</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">903,302</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">625</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005A, 5.000%, 9/01/35 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">581,631</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,375</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County Redevelopment Agency, California, Interstate 215 Corridor Redevelopment Project Area Tax Allocation Bonds, Series 2010E, 6.500%, 10/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,548,441</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">155</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">168,956</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County, California, Special Tax Bonds, Community Facilities District 04-2 Lake Hill Crest, Series 2012:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">995</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">945,549</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,625</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,374,890</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006, 5.000%, 9/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,941,621</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,505</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Centre City Project, Series 2001A, 5.000%, 9/01/26 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,548,515</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">137,036</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">134,160</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">160</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.000%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">169,213</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,160</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C, 5.000%, 8/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,149,688</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006D, 5.000%, 8/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,511,610</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Marcos Public Facilities Authority, California, Tax Allocation Bonds, Project Areas 1 and 3, Series 2005A, 5.000%, 8/01/34 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,552,340</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">215</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">220,953</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,710</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">South Orange County Public Financing Authority, California, Special Tax Revenue Bonds, Ladera Ranch, Series 2005A, 5.000%, 8/15/32 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,254,990</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Stockton Public Financing Authority, California, Lease Revenue Bonds, Series 2004, 5.250%, 9/01/34 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,262,640</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,165</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation Housing Bonds Series 2011A, 7.000%, 8/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,316,590</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,950</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ventura County Public Financing Authority, California, Lease Revenue Bonds Series 2013A, 5.000%, 11/01/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,900,802</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Westminster Redevelopment Agency, California, Tax Allocation Bonds, Commercial Redevelopment Project 1, Police Facility Subordinate Series 2009, 6.250%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,193,300</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">370</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">407,263</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yucaipa-Calimesa Joint Unified School District, San Bernardino County, California, Certificates of Participation, Refunding Series 2001A, 5.000%, 10/01/26 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,486,850</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">152,365</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/Limited</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">145,668,906</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Transportation &#8211; 4.7% (3.3% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999, 5.875%, 1/15/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,817,445</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,350</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Port of Oakland, California, Revenue Refunding Bonds, Series 2012P, 5.000%, 5/01/29 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,317,218</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,100</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Transportation</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,134,663</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed &#8211; 7.7% (5.4% of Total Investments) (6)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,690</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2006F, 5.000%, 4/01/31 (Pre-refunded 4/01/16) (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,877,522</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,210</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Series 2003C, 5.500%, 6/01/16 (Pre-refunded 12/01/13)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,320,425</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">660</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Thomas Jefferson School of Law, Series 2005A, 4.875%, 10/01/31 (Pre-refunded 10/01/15)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">706,827</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Daly City Housing Development Finance Agency, California, Mobile Home Park Revenue Bonds, Franciscan Mobile Home Park Project, Series 2002A, 5.800%, 12/15/25 (Pre-refunded 12/15/13)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,072,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lake Elsinore Public Finance Authority, California, Local Agency Revenue Refunding Bonds, Series 2003H, 6.000%, 10/01/20 (Pre-refunded 10/01/13)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,074,070</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,330</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Newport Beach, California, Revenue Bonds, Hoag Memorial Hospital Presbyterian, Series 2011A, 6.000%, 12/01/40 (Pre-refunded 12/01/21)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,930,138</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">575</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">625,790</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Wastewater Revenue Certificates of Participation, Series 2004, 5.000%, 3/01/24 (Pre-refunded 3/01/14) &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,024,030</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,345</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Mateo Union High School District, San Mateo County, California, Certificates of Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (6)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,559,662</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">600</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 01-1, Refunding Series 2009A, 8.625%, 9/01/39 (Pre-refunded 9/01/14)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 105.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (6)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">680,208</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21,410</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total U.S. Guaranteed</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22,871,072</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Utilities &#8211; 8.1% (5.6% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,815</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.000%, 11/15/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,603,611</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,505</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2012B, 5.000%, 7/01/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,658,892</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/26 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,009,060</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,285</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/31 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,267,910</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Salinas Valley Solid Waste Authority, California, Revenue Bonds, Series 2002, 5.125%, 8/01/22 &#8211; AMBAC Insured (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,508,275</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,105</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Utilities</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,047,748</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer &#8211; 9.9% (6.9% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,161,040</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,078,030</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,070</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Burbank, California, Wastewater System Revenue Bonds, Series 2004A, 5.000%, 6/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,105,289</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside Desalination Project, Series 2012:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,685</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 7/01/37 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,180,569</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,155</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/21/45 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,832,844</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">East Valley Water District Financing Authority, California, Refunding Revenue Bonds, Series 2010, 5.000%, 10/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,925,960</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fortuna Public Finance Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 10/01/36 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,094,906</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43</font></div>
</td>
</tr></table>
</div>

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<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NZH</font></div>
</td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California Dividend Advantage Municipal Fund 3 </font>(continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">890</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 5.000%, 4/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">891,032</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">850</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006, 5.000%, 6/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">853,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Metropolitan Water District of Southern California, Water Revenue Bonds, 2006 Authorization Series 2007A, 5.000%, 7/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,047,000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,295</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura Public Facilities Financing Authority, California, Water Revenue Bonds, Series 2012B, 5.000%, 7/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,254,652</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2009B, 5.000%, 11/01/39</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,010,400</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31,070</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Water and Sewer</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">29,435,122</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">488,374</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Investments (cost $436,156,884) &#8211; 143.0%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">426,418,148</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating Rate Obligations &#8211; (0.3)%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(845,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MuniFund Term Preferred Shares, at Liquidation Value &#8211; (53.5)% (7)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(159,544,500</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other Assets Less Liabilities &#8211; 10.8%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32,196,737</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net Assets Applicable to Common Shares &#8211; 100%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">298,225,385</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings: Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 37.4%.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(IF)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inverse floating rate investment.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(UB)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments</font></div>
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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">August 31, 2013 (Unaudited)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Consumer Staples &#8211; 5.6% (3.8% of Total Investments)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,350</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/18 at 100.00</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB&#8211;</font></div>
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<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,076,814</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23,020</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
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<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,000,952</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 6/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,366,045</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,630</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">B</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,804,751</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Consumer Staples</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31,248,562</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Education and Civic Organizations &#8211; 0.6% (0.4% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,600</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley &amp; Northern Nevada Project, Series 2012A, 6.875%, 1/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,628,688</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">800</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State University, Systemwide Revenue Bonds, Series 2005A, 5.000%, 11/01/25 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">851,672</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State University, Systemwide Revenue Bonds, Series 2005C, 5.000%, 11/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,063,750</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Education and Civic Organizations</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,544,110</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Health Care &#8211; 18.6% (12.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue Bonds, Sansum-Santa Barbara Medical Foundation Clinic, Series 2002A, 5.600%, 4/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,017,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,630</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Childrens Hospital Los Angeles, Series 2010A, 5.250%, 7/01/38 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,563,333</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,255</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Children&#8217;s Hospital Los Angeles, Series 2012A, 5.000%, 11/15/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,209,669</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2012A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">976,980</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,625</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,544,108</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Memorial Health Services, Series 2012A, 5.000%, 10/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,002,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,375</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.000%, 11/15/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,098,134</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Cottage Health System Obligated Group, Series 2010, 5.000%, 11/01/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,949,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,585</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2012A, 5.000%, 4/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,375,227</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,543</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554, 18.234%, 7/01/47 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,601,332</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">848,080</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Insured Health Facility Revenue Bonds, Catholic Healthcare West, Series 2008K, 5.500%, 7/01/41 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,084,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of Los Angeles, Series 2007:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,995</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/15/39 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,771,723</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/15/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,820,815</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.250%, 7/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,003,130</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">45</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
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<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund </font>(continued)</font></div>
</td>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Health Care </font>(continued)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,745</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System, Series 2006, 5.000%, 3/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,221,995</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,020</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2006, 5.000%, 3/01/41 &#8211; BHAC Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,005,091</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,060</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health System, Series 1998A, 5.000%, 8/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,271,039</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,555</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,996,514</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 2007C, 5.000%, 8/15/38 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,721,900</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,735</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Community Development Authority, Revenue Bonds, Trinity Health, Series 2011, 5.000%, 12/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,634,653</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,557,775</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 11/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,487,175</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,145</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.000%, 11/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,092,616</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,400</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A, 5.000%, 7/01/47</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,104,224</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,670</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital, Series 2007A, 5.750%, 2/01/41 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,884,453</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">104,838</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Health Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">102,843,366</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Housing/Multifamily &#8211; 0.8% (0.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,285</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Rancho Vallecitos Mobile Home Park, Series 2013, 5.000%, 4/15/38</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,031,398</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,165</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Poway, California, Housing Revenue Bonds, Revenue Bonds, Poinsettia Mobile Home Park, Series 2003, 5.000%, 5/01/23</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,176,417</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,450</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Housing/Multifamily</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,207,815</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Long-Term Care &#8211; 1.5% (1.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue Bonds, Channing House, Series 2010, 6.125%, 5/15/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,114,780</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,575</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Insured Revenue Bonds, California-Nevada Methodist Homes, Series 2006, 5.000%, 7/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,491,777</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Health Facilities Financing Authority, Insured Revenue Bonds, Community Program for Persons with Developmental Disabilities, Series 2011A, 6.250%, 2/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,508,188</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Statewide Communities Development Authority, Revenue Bonds, Front Porch Communities and Services Project, Series 2007A, 5.125%, 4/01/37</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,341,495</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,325</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Long-Term Care</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,456,240</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General &#8211; 29.0% (19.5% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2012A, 5.000%, 8/01/29 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,093,510</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,425</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bassett Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2006B, 5.250%, 8/01/30 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,508,377</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2010, 6.000%, 3/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,765,300</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2011:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,104,080</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,065,220</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,090</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,077,771</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,625</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,617,020</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,665</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Various Purpose Series 2012, 5.000%, 4/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,650,725</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Coachella Valley Unified School District, Riverside County, California, General Obligation Bonds, Election 2005 Series 2010C, 0.000%, 8/01/43 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,310,248</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,575</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 5.000%, 8/01/31 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,777,177</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2006 Series 2009B, 5.375%, 2/01/34 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,606,000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">East Side Union High School District, Santa Clara County, California, General Obligation Bonds, 2008 Election Series 2010B:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,490</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/27 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,627,157</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,545</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/28 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,656,526</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,110</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/29 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,183,427</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">El Monte Union High School District, Los Angeles County, California, General Obligation Bonds, Series 2003A, 5.000%, 6/01/28 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">230,568</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana Unified School District, San Bernardino County, California, General Obligation Bonds, Trust 2668, 9.686%, 2/01/16 &#8211; AGM Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,997,156</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Grossmont Healthcare District, California, General Obligation Bonds, Series 2007A, 5.000%, 7/15/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,004,950</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,255</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community College District, Los Angeles County, California, General Obligation Bonds, Series 2005A, 5.000%, 8/01/24 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,351,321</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Mount Diablo Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2010A, 0.000%, 8/01/30 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/25 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,818,575</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Murrieta Valley Unified School District, Riverside County, California, General Obligation Bonds, Series 2007, 4.500%, 9/01/30 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,950,980</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,880</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">New Haven Unified School District, Alameda County, California, General Obligation Bonds, Series 2004A, 0.000%, 8/01/26 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,248,691</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oakland Unified School District, Alameda County, California, General Obligation Bonds, Series 2002, 5.250%, 8/01/21 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,508,800</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2011A, 0.000%, 8/01/46</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,017,600</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento City Unified School District, Sacramento County, California, General Obligation Bonds, Series 2005, 5.000%, 7/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,764,825</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,125</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Unified School District, San Diego County, California, General Obligation Bonds, Election of 1998, Series 1999A, 0.000%, 7/01/21 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">845,741</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,980</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Unified School District, San Diego County, California, General Obligation Bonds, Refunding Series 2012 R-1, 0.000%, 7/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,388,873</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Bay Area Rapid Transit District, California, General Obligation Bonds, Election of 2004 Series 2007B, 5.000%, 8/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,448,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco Community College District, California, General Obligation Bonds, Series 2002A, 5.000%, 6/15/26 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,006,860</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jacinto Unified School District, Riverside County, California, General Obligation Bonds, Series 2007, 5.250%, 8/01/32 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,213,250</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Juan Capistano, California, General Obligation Bonds, Open Space Program, Tender Option Bond Trust 3646, 18.160%, 8/01/17 (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,548,660</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997 Election Series 2011F:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/42 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 21.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">993,980</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,450</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/43 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 19.43</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,329,345</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21,225</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/44 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 17.98</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,496,697</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,550</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/45 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 16.64</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,363,683</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23,425</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/46 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/21 at 15.39</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,352,573</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,915</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2008, Series 2011C, 0.000%, 8/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,744,807</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Stockton Unified School District, San Joaquin County, California, General Obligation Bonds, Election 2008 Series 2011D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,280</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/47 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/37 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,375,722</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38,845</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 8/01/50 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/37 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,029,519</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,780</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sylvan Union School District, Stanislaus County, California, General Obligation Bonds, Election of 2006, Series 2010, 0.000%, 8/01/49 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,580,934</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,905</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">West Kern Community College District, California, General Obligation Bonds, Election 2004, Series 2007C, 5.000%, 10/01/32 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,904,844</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">47</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
</td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund </font>(continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
</td>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/General </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,520</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,906,991</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">341,470</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/General</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">160,466,583</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited &#8211; 56.7% (38.0% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,235</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Antioch Public Financing Authority, California, Lease Revenue Refunding Bonds, Municipal Facilities Project, Refunding Series 2002A, 5.500%, 1/01/32 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,209,409</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baldwin Park Public Financing Authority, California, Sales Tax and Tax Allocation Bonds, Puente Merced Redevelopment Project, Series 2003, 5.250%, 8/01/21</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,045,660</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 17A, Series 2013B:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,740</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,663,892</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,075</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,912,756</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">655</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 19C, Series 2013A, 5.000%, 9/01/27</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">635,114</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,895</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Brea and Olinda Unified School District, Orange County, California, Certificates of Participation Refunding, Series 2002A, 5.125%, 8/01/26 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,922,869</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,165</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Burbank Public Financing Authority, California, Revenue Refunding Bonds, Golden State Redevelopment Project, Series 2003A, 5.250%, 12/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,176,044</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Infrastructure and Economic Development Bank, Los Angeles County, Revenue Bonds, Department of Public Social Services, Series 2003, 5.000%, 9/01/28 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,227,236</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center for Self-Sufficiency Corporation, Series 2004:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,215</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 12/01/19 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,229,082</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,535</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 12/01/20 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,552,714</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,615</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 12/01/21 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,633,637</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,780</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 12/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,800,541</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,725</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp; Rehabilitation, Series 2005J, 5.000%, 1/01/17 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,067,253</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Education, Riverside Campus Project, Series 2012H:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,790</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 4/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,811,176</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,065</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 4/01/31</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,055,356</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of General Services, Capital East End Project, Series 2002A, 5.000%, 12/01/27 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,999,960</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Department of Health Services, Richmond Lab, Series 2005B, 5.000%, 11/01/30 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,099,783</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,990</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Various Projects Series 2013A, 5.000%, 3/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,958,339</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.750%, 10/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,298,680</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,210</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,215,372</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,520</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation Bonds, Series 2006, 5.000%, 9/01/38 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,327,396</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,890</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chula Vista Public Financing Authority, California, Pooled Community Facility District Assessment Revenue Bonds, Series 2005A, 4.500%, 9/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,174,854</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,430</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cloverdale Community Development Agency, California, Tax Allocation Bonds, Cloverdale Redevelopment Project, Refunding Series 2006, 5.000%, 8/01/36 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,238,695</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Projects, Second Lien Series 2010B:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/25</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,161,784</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">530</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 8/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">527,345</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,145</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Series 2002A, 5.125%, 11/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,028,981</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">48</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,905</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Refunding Series 2001, 5.000%, 9/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,734,122</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">El Monte, California, Senior Lien Certificates of Participation, Department of Public Services Facility Phase II, Series 2001:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,730</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 1/01/21 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,739,979</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 1/01/34 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,685,000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Escondido Joint Powers Financing Authority, California, Lease Revenue Bonds, Water System Financing, Series 2012, 5.000%, 9/01/41</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,877,870</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,280</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fontana Public Financing Authority, California, Tax Allocation Revenue Bonds, North Fontana Redevelopment Project, Series 2005A, 5.000%, 10/01/32 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,766,226</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige Heights, Refunding Series 2012, 5.000%, 9/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">965,500</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2013A, 5.000%, 6/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">994,310</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 6/01/35 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,089,558</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,065</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 6/01/45 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,160,326</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 6/01/45 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,992,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Tender Option Bonds Trust 4686, 8.933%, 6/01/45 &#8211; AGC Insured (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,579,200</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Revenue Bonds, Tender Option Bonds Trust 2040, 10.715%, 6/01/45 &#8211; FGIC Insured (IF)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,509,440</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,315</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Public Financing Authority, California, Redevelopment and Housing Projects Tax Allocation Bonds, Series 2007A, 5.000%, 9/01/37 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,670,299</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,700</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Hesperia Unified School District, San Bernardino County, California, Certificates of Participation, Capital Improvement, Series 2007, 5.000%, 2/01/41 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,560,056</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">435</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Indian Wells Redevelopment Agency, California, Tax Allocation Bonds, Consolidated Whitewater Project Area, Series 2003A, 5.000%, 9/01/20 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">435,200</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,115</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Refunding Series 1998A, 5.250%, 5/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,174,601</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,665</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 5/01/24 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,614,684</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">710</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 5/01/25 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BB+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">679,967</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 39 Eastvale Area, Series 2012A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">907,850</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.125%, 9/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,816,760</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">La Quinta Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project Area 1, Series 2001, 5.100%, 9/01/31 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,407,565</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,130</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">La Quinta Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project Area 1, Series 2002, 5.000%, 9/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,164,993</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,790</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">La Quinta Redevelopment Agency, California, Tax Allocation Refunding Bonds, Redevelopment Project Area 1, Series 1998, 5.200%, 9/01/28 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,795,509</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment Project Areas Housing Programs, Subordinate Refunding Series 2003:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,505</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.750%, 8/01/23 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,428,773</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,425</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.750%, 8/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,206,653</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,880</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A1</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,931,803</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,895</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Community Redevelopment Agency, California, Tax Allocation Bonds, Bunker Hill Project, Series 2004A, 5.000%, 12/01/20 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,994,431</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Municipal Improvement Corporation, California, Lease Revenue Bonds, Police Headquarters, Series 2006A, 4.750%, 1/01/31 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,833,860</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">49</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund </font>(continued)</font></div>
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<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
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<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
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<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
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<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,460</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles, California, Certificates of Participation, Municipal Improvement Corporation, Series 2003AW, 5.000%, 6/01/33 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,478,202</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Osos, California, Improvement Bonds, Community Services Wastewater Assessment District 1, Series 2002, 5.000%, 9/02/33 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,321,575</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,270</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Moreno Valley Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2007A, 5.000%, 8/01/38 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,562,236</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">800</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2003-1, Series 2004, 5.550%, 9/01/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">802,856</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,810</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Oakland Joint Powers Financing Authority, California, Lease Revenue Bonds, Administration Building Projects, Series 2008B, 5.000%, 8/01/21 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,054,948</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,300</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Pacifica, California, Certificates of Participation, Series 2008, 5.375%, 1/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/16 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,328,908</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palm Desert Financing Authority, California, Tax Allocation Revenue Refunding Bonds, Project Area 1, Series 2002, 5.000%, 4/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,962,900</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Palm Springs Financing Authority, California, Lease Revenue Bonds, Convention Center Project, Refunding Series 2004A, 5.500%, 11/01/35 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,003,950</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,395</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/30</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,254,990</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,050</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.750%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,961,947</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">555</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B , 5.875%, 9/01/39</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">533,927</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,140</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Plumas County, California, Certificates of Participation, Capital Improvement Program, Series 2003A, 5.000%, 6/01/28 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,084,441</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">390</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment Project, Series 2000, 5.750%, 6/15/33 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">375,695</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,745</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/26 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,755,654</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Cucamonga Redevelopment Agency, California, Tax Allocation Bonds, Housing Set-Aside, Rancho Project, Series 2007A, 5.000%, 9/01/34 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,396,390</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County Public Financing Authority, California, Tax Allocation Bonds, Multiple Projects, Series 2005A, 5.000%, 10/01/35 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,782,290</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Riverside County, California, Community Facilities District 05-8, Scott Road, Special Tax Bonds Series 2013:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">660</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">593,366</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/42</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,059,563</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities District 1, Series 2004, 5.000%, 9/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000,090</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville Finance Authority, California, Special Tax Revenue Bonds, Series 2007A, 5.000%, 9/01/33 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,373,750</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,510</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Bernardino Joint Powers Financing Authority, California, Certificates of Participation Refunding, Police Station Financing Project, Series 1999, 5.500%, 9/01/20 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,343,415</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,060</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006, 5.000%, 9/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,903,665</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,930</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Redevelopment Agency, California, Subordinate Lien Tax Increment and Parking Revenue Bonds, Centre City Project, Series 2003B, 5.250%, 9/01/26</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,929,606</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">380</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco, California, Community Facilities District 6, Mission Bay South Public Improvements, Special Tax Refunding Bonds, Series 2013A, 5.000%, 8/01/33</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">362,018</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,150</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jacinto Unified School District, Riverside County, California, Certificates of Participation, Series 2010, 5.375%, 9/01/40 &#8211; AGC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,150,000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Convention Center Project, Series 2001F, 5.000%, 9/01/19 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,015,680</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2005A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,310</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/20 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,403,210</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,025</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/28 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,977,916</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">50</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Tax Obligation/Limited </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">835</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C, 5.000%, 8/01/25 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">827,577</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2007B, 4.250%, 8/01/36 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">792,470</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Marcos Public Facilities Authority, California, Special Tax Revenue Bonds, Refunding Series 2012D:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">930</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">892,540</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">924,150</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Clara Redevelopment Agency, California, Tax Allocation Bonds, Bayshore North Project, Series 1999A, 5.500%, 6/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,035,070</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Clarita, California, Special Tax Bonds, Community Facilities District 2002-1 Valencia Town Center, Refunding Series 2012:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,110</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,068,741</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,895</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/32</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,712,091</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Stockton Public Financing Authority, California, Lease Revenue Bonds, Series 2004, 5.250%, 9/01/34 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,946,160</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sweetwater Union High School District Public Financing Authority, California, Special Tax Revenue Bonds, Series 2005A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,565</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/25 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,579,224</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,510</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/28 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,558,543</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,160</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Temecula Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project 1, Series 2002, 5.125%, 8/01/27 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,193,372</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">800</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tustin Community Redevelopment Agency, California, MCAS Project Area Tax Allocation Bonds, Series 2010, 5.000%, 9/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/18 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">740,664</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Tustin Community Redevelopment Agency, California, Tax Allocation Housing Bonds Series 2010:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,205</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 9/01/30 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,209,941</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/39 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,276,488</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,020</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Washington Unified School District, Yolo County, California, Certificates of Participation, Series 2007, 5.125%, 8/01/37 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,022,285</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,455</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">William S. Hart Union High School District, Los Angeles County, California, Special Tax Bonds, Community Facilities District 2005-1, Series 2006, 5.300%, 9/01/36</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,241,274</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,670</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Woodland Finance Authority, California, Lease Revenue Bonds, Series 2002, 5.000%, 3/01/32 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A2</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,650,883</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,805</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yucaipa-Calimesa Joint Unified School District, San Bernardino County, California, Certificates of Participation, Refunding Series 2001A, 5.000%, 10/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,621,048</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">326,930</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Tax Obligation/Limited</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,756,572</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Transportation &#8211; 3.4% (2.3% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 5.000%, 1/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,899,240</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.000%, 1/15/18 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 80.02</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,052,905</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.875%, 1/15/29</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">BBB&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,526,550</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2010A, 5.000%, 5/15/40</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,973,720</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego Unified Port District, California, Revenue Bonds, Series 2004B, 5.000%, 9/01/29 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,467,320</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Transportation</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18,919,735</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed &#8211; 10.0% (6.7% of Total Investments) (5)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bonita Unified School District, San Diego County, California, General Obligation Bonds, Series 2004A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,890</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 8/01/23 (Pre-refunded 8/01/14) &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,977,866</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 8/01/25 (Pre-refunded 8/01/14) &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,308,113</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/36 (Pre-refunded 1/01/28) &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/28 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aaa</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,596,140</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State University, Systemwide Revenue Bonds, Series 2005A, 5.000%, 11/01/25 (Pre-refunded 5/01/15) &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,370,962</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California State, General Obligation Bonds, Series 2004, 5.250%, 4/01/34 (Pre-refunded 4/01/14)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">514,890</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">51</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NKX</font></div>
</td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund </font>(continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Portfolio of Investments August 31, 2013 </font>(Unaudited)</font></div>
</td>
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</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">U.S. Guaranteed (5) </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,275</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Central Unified School District, Fresno County, California, General Obligation Bonds, Series 1993, 5.625%, 3/01/18 &#8211; AMBAC Insured (ETM)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,308,023</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">El Segundo Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2004:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,580</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/21 (Pre-refunded 9/01/14) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,710,754</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,775</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.250%, 9/01/22 (Pre-refunded 9/01/14) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211; (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,864,957</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Huntington Park Redevelopment Agency, California, Single Family Residential Mortgage Revenue Refunding Bonds, Series 1986A, 8.000%, 12/01/19 (ETM)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aaa</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,237,220</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles County Sanitation Districts Financing Authority, California, Senior Revenue Bonds, Capital Projects, Series 2003A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,700</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/21 (Pre-refunded 10/01/13) &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+ (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,711,205</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 10/01/23 (Pre-refunded 10/01/13) &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+ (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,518,675</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Rios Community College District, Sacramento, El Dorado and Yolo Counties, California, General Obligation Bonds, Series 2006C:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,110</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/21 (Pre-refunded 8/01/14) &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,245,378</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/22 (Pre-refunded 8/01/14) &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,458,520</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,395</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/23 (Pre-refunded 8/01/14) &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,612,823</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 8/01/25 (Pre-refunded 8/01/14) &#8211; AGM Insured (UB)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/14 at 102.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa2 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,064,160</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,710</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Manteca Financing Authority, California, Sewerage Revenue Bonds, Series 2003B, 5.000%, 12/01/33 (Pre-refunded 12/01/13) &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Aa3 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,730,845</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,640</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2004, 5.875%, 7/01/26 (Pre-refunded 7/01/14)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa2 (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,860,446</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">980</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,066,563</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,520</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Buenaventura, California, Water Revenue Certificates of Participation, Series 2004, 5.000%, 10/01/25 (Pre-refunded 10/01/14) &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,597,566</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Semitropic Water Storage District, Kern County, California, Water Banking Revenue Bonds, Series 2004A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,315</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 12/01/20 (Pre-refunded 12/01/14) &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+ (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,401,751</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,415</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 12/01/21 (Pre-refunded 12/01/14) &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+ (5)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,508,348</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,530</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Yorba Linda Water District, California, Certificates of Participation, Highland Reservoir Renovation, Series 2003, 5.000%, 10/01/33 (Pre-refunded 10/01/13) &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+ (5)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,540,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">50,785</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total U.S. Guaranteed</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55,205,705</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Utilities &#8211; 5.3% (3.6% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Anaheim Public Finance Authority, California, Second Lien Electric Distribution Revenue Bonds, Series 2004, 5.250%, 10/01/21 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,047,520</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,490</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 11/15/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,352,029</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">945</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.500%, 11/15/37</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">940,785</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2012B, 5.000%, 7/01/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,106,100</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,280</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2013B, 5.000%, 7/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,589,016</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,750</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Tender Option Bond Trust 3345, 18.033%, 7/01/20 (IF) (4)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,909,150</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,155</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 9/01/31 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,126,339</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">100</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sacramento City Financing Authority, California, Capital Improvement Revenue Bonds, Solid Waste and Redevelopment Projects, Series 1999, 5.800%, 12/01/19 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">100,117</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Southern California Public Power Authority, California, Milford Wind Corridor Phase I Revenue Bonds, Series 2010-1, 5.000%, 7/01/28</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,216,920</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28,720</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Utilities</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">29,387,976</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer &#8211; 17.5% (11.7% of Total Investments)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Atwater Public Financing Authority, California, Wastewater Revenue Bonds, Series 2010, 5.125%, 5/01/40 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,405,492</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,600</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A, 5.000%, 10/01/34</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,901,716</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">52</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Optional Call</font></div>
</td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Description (1)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratings (3)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Water and Sewer </font>(continued)</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,200</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside Desalination Project, Series 2012, 5.000%, 11/21/45</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Baa3</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,196,104</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Castaic Lake Water Agency, California, Certificates of Participation, Series 2006C, 5.000%, 8/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,001,300</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">El Dorado Irrigation District, California, Water and Sewer Certificates of Participation, Series 2004A, 5.000%, 3/01/21 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,303,192</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,250</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fortuna Public Finance Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 10/01/36 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,189,813</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,480</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 5.000%, 4/01/36 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,481,717</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Indio Water Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 4/01/31 &#8211; AMBAC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,079,600</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,230</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles County Sanitation Districts Financing Authority, California, Capital Projects Revenue Bonds, District 14, Series 2005, 5.000%, 10/01/34 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,252,259</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2012A, 5.000%, 7/01/43</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,261,760</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,400</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Los Angeles, California, Wastewater System Revenue Bonds, Subordinate Lien, Refunding Series 2013A, 5.000%, 6/01/35</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/23 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,465,088</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,320</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006, 5.000%, 6/01/31 &#8211; NPFG Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,325,280</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Placerville Public Financing Authority, California, Wastewater System Refinancing and Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/R</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,297,305</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Diego County Water Authority, California, Water Revenue Certificates of Participation, Series 2008A, 5.000%, 5/01/38 &#8211; AGM Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,032,850</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,675</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Dieguito Water District, California, Water Revenue Bonds, Refunding Series 2004, 5.000%, 10/01/23 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA+</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,849,158</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2011A, 5.000%, 11/01/28</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AA&#8211;</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,250,400</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Santa Clara Valley Water District, California, Certificates of Participation, Series 2004A:</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,400</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 2/01/19 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,427,328</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">445</font></div>
</td>
<td valign="top" width="3%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 2/01/20 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">453,646</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">465</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.000%, 2/01/21 &#8211; FGIC Insured</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">AAA</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">473,998</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,395</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Water and Sewer</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">96,648,006</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,030,213</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Investments (cost $837,785,132) &#8211; 149.0%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">824,684,670</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating Rate Obligations &#8211; (1.5)%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8,240,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred Shares, at Liquidation Value &#8211; (52.7)% (6)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(291,600,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="3%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other Assets Less Liabilities &#8211; 5.2%</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28,800,675</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="12%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net Assets Applicable to Common Shares &#8211; 100%</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">553,645,345</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratings: Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 35.4%.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(ETM)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Escrowed to maturity.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(IF)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inverse floating rate investment.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(UB)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Assets</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investments, at value (cost $115,676,474, $479,975,881, $299,183,367, $436,156,884 and $837,785,132, respectively)</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">118,361,945</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">476,630,488</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">293,552,149</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">426,418,148</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">824,684,670</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,335,167</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash held in escrow<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">(1)</font></font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,893,731</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Receivable for:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Interest</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,531,154</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,626,415</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,619,124</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,383,020</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,895,006</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investments sold</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,442,954</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,486,100</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28,914,155</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">26,549,987</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Deferred offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">301,710</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">828,150</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">254,930</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">624,112</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,675,048</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,035</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">178,207</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">122,677</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">68,139</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,970</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">121,537,011</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">504,706,214</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">408,928,711</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">463,407,574</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">866,118,681</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Liabilities</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash overdraft</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">969,691</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,061,204</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,463,068</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,723,802</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating rate obligations</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,525,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43,400,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,380,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">845,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,240,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common share dividends</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">380,598</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,699,482</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,087,101</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,579,342</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,808,279</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Interest</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">58,742</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">177,025</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">351,732</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investments purchased</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,129,736</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,078,069</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MuniFund Term Preferred (MTP) Shares noticed for redemption, at liquidation value</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,846,300</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">132,524</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">255,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">236,617</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MTP Shares, at liquidation value</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,544,500</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Variable Rate Demand Preferred (VRDP) Shares, at liquidation value</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,600,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued expenses:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Management fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">64,686</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">269,368</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165,026</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">250,648</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">457,136</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Reorganization</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">107,507</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Trustees fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">501</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">61,695</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">37,226</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">58,270</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,272</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42,371</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">89,090</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">81,774</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">89,629</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">204,654</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total liabilities</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">41,321,898</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">190,951,586</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">208,090,656</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">165,182,189</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">312,473,336</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net assets applicable to common shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">80,215,113</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,754,628</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200,838,055</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">298,225,385</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">553,645,345</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common shares outstanding</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,732,845</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23,528,873</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,759,237</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,151,884</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">41,843,761</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net asset value per common share outstanding (net assets applicable to common shares, divided by common shares outstanding)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.99</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.33</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.61</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.35</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.23</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net assets applicable to common shares consist of:</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common shares, $.01 par value per share</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">57,328</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">235,289</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">147,592</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">241,519</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">418,438</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Paid-in surplus</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">77,489,541</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">335,117,131</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">208,783,391</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">338,049,945</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">564,098,136</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed (Over-distribution of) net investment income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,086,225</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,568,192</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,450,168</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">149,311</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,925,652</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accumulated net realized gain (loss)</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1,103,452</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(22,820,591</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3,911,878</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(30,476,654</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,696,419</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net unrealized appreciation (depreciation)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,685,471</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3,345,393</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5,631,218</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,738,736</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13,100,462</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
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</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net assets applicable to common shares</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">80,215,113</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,754,628</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200,838,055</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">298,225,385</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">553,645,345</font></div>
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<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Authorized shares:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Unlimited</font></div>
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<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Unlimited</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Preferred</font></div>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Unlimited</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Unlimited</font></div>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1)</font></div>
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<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Amounts deposited for the payment of MTP Shares noticed for redemption.</font></div>
</td>
</tr></table>
</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">54</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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</div>

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<td align="left" colspan="2" valign="top" width="86%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Statement of</font></div>
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<td align="left" valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial">Operations</font></font></div>
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<td align="left" valign="top" width="87%">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: normal; DISPLAY: inline">Six Months ended August 31, 2013 (Unaudited)</font></font></div>
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</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="21%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Free Income</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment Income</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,216,843</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,054,322</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,520,691</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,085,147</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22,602,503</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Management fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">401,967</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,674,558</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,042,637</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,578,567</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,859,764</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Shareholder servicing agent fees and expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,314</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,410</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,019</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,567</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,619</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Interest expense and amortization of offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">452,452</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">340,903</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,920,266</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,544,051</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">468,651</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Liquidity fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">683,966</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,486</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,341,559</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Remarketing fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">69,613</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">817</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">149,040</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Custodian fees and expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,777</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">45,297</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33,384</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">49,945</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">77,625</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Trustees fees and expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,592</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,350</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,220</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,432</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,076</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Professional fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14,976</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28,176</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,172</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22,485</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">61,999</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Shareholder reporting expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,108</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,203</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,168</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,897</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,457</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Stock exchange listing fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,991</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,995</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,222</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,858</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,828</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Investor relations expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,824</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,744</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,042</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,538</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">495</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15,711</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">27,177</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,605</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,055</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">59,494</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">923,712</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,909,392</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,118,038</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,271,395</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,051,607</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net investment income (loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,293,131</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,144,930</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,402,653</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,813,752</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,550,896</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized and Unrealized Gain (Loss)</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net realized gain (loss) from investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(217,528</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1,235,529</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,072,578</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4,518,231</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,646,367</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Change in net unrealized appreciation (depreciation) of investments</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(10,790,153</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(58,923,437</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(37,107,266</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(51,523,760</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(95,087,155</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net realized and unrealized gain (loss)</font></div>
</td>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11,007,681</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(60,158,966</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(39,179,844</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(56,041,991</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(97,733,522</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
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</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares from operations</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8,714,550</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
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</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(50,014,036</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(33,777,191</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
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</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
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</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(47,228,239</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(80,182,626</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" colspan="2" valign="top" width="100%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Statement of</font></div>
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<td align="left" valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial">Changes in Net Assets</font> </font>(Unaudited)</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
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<td valign="bottom" width="20%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
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<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Operations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net investment income (loss)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,293,131</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,512,923</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,144,930</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,796,683</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,402,653</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,479,454</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net realized gain (loss) from investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(217,528</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">149,357</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1,235,529</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3,428,813</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,072,578</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">636,916</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Change in net unrealized appreciation (depreciation) of investments</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(10,790,153</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,828,331</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(58,923,437</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">29,421,942</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(37,107,266</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,401,627</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares from operations</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8,714,550</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,490,611</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(50,014,036</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">45,789,812</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(33,777,191</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">26,517,997</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions to Common Shareholders</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">From net investment income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,407,795</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4,943,234</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(10,446,820</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(21,498,537</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6,641,657</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13,939,461</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">From accumulated net realized gains</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Decrease in net assets applicable to common shares from distributions to common shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,407,795</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4,943,234</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(10,446,820</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(21,498,537</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6,641,657</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13,939,461</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Capital Share Transactions</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common shares:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Issued in the Reorganizations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net proceeds from shares issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34,943</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">119,833</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">601,534</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,251</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">184,119</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares from capital share transactions</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34,943</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">119,833</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">601,534</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,251</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">184,119</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11,122,345</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,582,320</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(60,341,023</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,892,809</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(40,398,597</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,762,655</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net assets applicable to common shares at the beginning of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">91,337,458</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">87,755,138</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">374,095,651</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">349,202,842</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">241,236,652</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">228,473,997</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net assets applicable to common shares at the end of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">80,215,113</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">91,337,458</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,754,628</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">374,095,651</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200,838,055</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">241,236,652</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed (Over-distribution of) net investment income at the end of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,086,225</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,200,889</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,568,192</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,870,082</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,450,168</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,689,172</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">56</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="46%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="24%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="25%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Operations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net investment income (loss)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,813,752</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18,102,374</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,550,896</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">29,529,882</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net realized gain (loss) from investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4,518,231</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">150,288</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,646,367</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,609,892</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Change in net unrealized appreciation (depreciation) of investments</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(51,523,760</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21,398,391</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(95,087,155</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,647,124</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares from operations</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(47,228,239</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">39,651,053</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(80,182,626</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55,786,898</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions to Common Shareholders</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">From net investment income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,709,057</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(20,500,040</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17,574,380</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(26,767,462</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">From accumulated net realized gains</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(669,297</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Decrease in net assets applicable to common shares from distributions to common shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,709,057</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(20,500,040</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17,574,380</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(27,436,759</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Capital Share Transactions</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common shares:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Issued in the Reorganizations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">535,519,809</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net proceeds from shares issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">181,312</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">801,530</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares from capital share transactions</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">181,312</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">536,321,339</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net increase (decrease) in net assets applicable to common shares</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(56,937,296</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,332,325</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(97,757,006</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">564,671,478</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net assets applicable to common shares at the beginning of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">355,162,681</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">335,830,356</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">651,402,351</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">86,730,873</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net assets applicable to common shares at the end of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">298,225,385</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">355,162,681</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">553,645,345</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">651,402,351</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed (Over-distribution of) net investment income at the end of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">149,311</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,044,616</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,925,652</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,949,136</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">&#160;</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="bottom" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">57</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" colspan="2" valign="bottom" width="90%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Statement of </font></div>
</td>
</tr><tr>
<td align="left" valign="bottom" width="13%"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="bottom" width="87%"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash Flows</font></td>
</tr><tr>
<td align="left" valign="bottom" width="13%">&#160;</td>
<td valign="bottom" width="87%" style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Six Months ended August 31, 2013 (Unaudited)</font></div>
</td>
</tr><tr>
<td colspan="2" valign="bottom" width="90%" style="TEXT-ALIGN: right">&#160;</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="54%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="54%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td align="right" colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td align="right" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash Flows from Operating Activities:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Increase (Decrease) In Net Assets Applicable to Common Shares from Operations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8,714,550</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(50,014,036</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(33,777,191</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Adjustments to reconcile the net increase (decrease) in net assets applicable to common shares from operations to net cash provided by (used in) operating activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Purchases of investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(12,422,302</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(84,791,111</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(66,372,399</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Proceeds from sales and maturities of investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,552,926</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">79,010,868</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">81,548,035</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Amortization (Accretion) of premiums and discounts, net</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(56,370</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">26,852</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(80,339</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(Increase) Decrease in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Receivable for interest</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">628</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(416,772</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">143,418</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Receivable for investments sold</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17,282,954</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1,889,717</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other assets</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6,356</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(86,474</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increase (Decrease) in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for interest</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(841</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for investments purchased</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,906,377</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(14,188,580</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued management fees</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,814</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,369</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">212</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued reorganization expenses</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued Trustees fees</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,505</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,024</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued other expenses</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13,022</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(26,211</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5,589</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net realized (gain) loss from investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">217,528</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,235,529</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,072,578</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Change in net unrealized (appreciation) depreciation of investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,790,153</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">58,923,437</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">37,107,266</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Taxes paid on undistributed capital gains</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(48</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(680</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net cash provided by (used in) operating activities</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,350,407</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(8,399,407</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,470,723</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash Flows from Financing Activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increase (Decrease) in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash held in escrow<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">(1)</font></font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(97,893,731</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Deferred offering costs</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">145,437</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(152,961</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">699,655</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increase (Decrease) in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash overdraft</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">969,691</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,061,204</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating rate obligations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,480,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for MTP Shares noticed for redemption, at liquidation value</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,846,300</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for offering costs</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(59,753</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">132,524</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">126,276</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MTP Shares, at liquidation value</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(97,846,300</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">VRDP Shares, at liquidation value</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash distributions paid to common shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,407,281</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(10,234,882</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6,617,629</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net cash provided by (used in) financing activities</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,321,597</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,194,372</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4,624,225</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Increase (Decrease) in Cash</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,028,810</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(205,035</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(153,502</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash at the beginning of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">306,357</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">205,035</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">153,502</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,335,167</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Amounts deposited for the payment of MTP Shares noticed for redemption.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Supplemental Disclosure of Cash Flow Information</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="54%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="54%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="54%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="54%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash paid for interest (excluding amortization of offering costs)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">366,777</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">328,864</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,098,779</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="54%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Non-cash financing activities not included herein consists of reinvestments of common share distributions</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">119,833</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,251</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">58</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
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<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash Flows from Operating Activities:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Increase (Decrease) In Net Assets Applicable to Common Shares from Operations</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(47,228,239</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(80,182,626</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Adjustments to reconcile the net increase (decrease) in net assets applicable to common shares from operations to net cash provided by (used in) operating activities:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Purchases of investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(93,539,520</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(123,403,076</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Proceeds from sales and maturities of investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">128,937,573</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">162,659,427</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Amortization (Accretion) of premiums and discounts, net</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">210,858</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1,240,584</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(Increase) Decrease in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Receivable for interest</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">553,370</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(324,458</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Receivable for investments sold</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(28,689,155</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(26,329,987</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Other assets</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11,581</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,522</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increase (Decrease) in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for interest</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for investments purchased</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,614,586</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,078,069</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued management fees</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,717</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,992</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued reorganization expenses</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,772</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued Trustees fees</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,536</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,916</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accrued other expenses</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(28,731</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(67,006</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net realized (gain) loss from investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,518,231</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,646,367</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Change in net unrealized (appreciation) depreciation of investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">51,523,760</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">95,087,155</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Taxes paid on undistributed capital gains</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(116</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net cash provided by (used in) operating activities</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,635,140</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33,962,483</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash Flows from Financing Activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increase (Decrease) in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash held in escrow<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">(1)</font></font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Deferred offering costs</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">712,098</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(87,730</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increase (Decrease) in:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash overdraft balance</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,463,068</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(296,978</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Floating rate obligations</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(15,885,000</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for MTP Shares noticed for redemption, at liquidation value</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Payable for offering costs</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(281,183</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(118,302</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MTP Shares, at liquidation value</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">VRDP Shares, at liquidation value</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash distributions paid to common shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,707,828</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17,574,473</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net cash provided by (used in) financing activities</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6,813,845</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(33,962,483</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Increase (Decrease) in Cash</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(178,705</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash at the beginning of period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">178,705</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Cash at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Amounts deposited for the payment of MTP Shares noticed for redemption.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Supplemental Disclosure of Cash Flow Information</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
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</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cash paid for interest (excluding amortization of offering costs)</font></div>
</td>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,113,113</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">421,381</font></div>
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</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Non-cash financing activities not included herein consists of reinvestments of common share distributions</font></div>
</td>
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<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
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</td>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">59</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" colspan="2" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Financial</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial">Highlights</font> </font>(Unaudited)</font></div>
</td>
</tr><tr>
<td align="left" colspan="2" valign="top" width="87%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
</tr><tr>
<td align="left" colspan="2" valign="top" width="87%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Selected data for a common share outstanding throughout each period:</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="14%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="14" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment Operations</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Less Distributions</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Beginning</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(Loss)</font></div>
</td>
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<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized/</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Unrealized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gain (Loss)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Auction Rate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preferred Shareholders</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(a)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Accumulated</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gains to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Auction Rate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preferred Shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(a)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">From</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">holders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">From</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Accumu-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">lated</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gains to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">holders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Discount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Repurchased</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">and</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Retired</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Market</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="10" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="7" valign="bottom" width="28%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.93</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.40</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.92</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.52</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.42</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.42</font></div>
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<td align="left" valign="bottom" width="1%">
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</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
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</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
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</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.99</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.80</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.31</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.79</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.69</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.48</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.86</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.86</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.93</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.78</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.96</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.84</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.38</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.22</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.87</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.87</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.31</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.15</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.71</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.92</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.79</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.02</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.11</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.86</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.86</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.96</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.28</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.37</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.95</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.13</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.03</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.05</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.72</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.72</font></div>
</td>
<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.01</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.71</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.11</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.67</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.43</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.29</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.10</font></div>
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<td align="left" valign="bottom" width="2%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.96</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.33</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.01</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.34</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.37</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.06</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="3" valign="bottom" width="14%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.06</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.92</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.43</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.24</font></div>
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<td align="left" valign="bottom" width="2%">
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.25</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.64</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.64</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.67</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.58</font></div>
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<td valign="bottom" width="14%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="13" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="7" valign="bottom" width="28%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.90</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.43</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.56</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.13</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.44</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.44</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.33</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.28</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.87</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.84</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.11</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.95</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.92</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.92</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.90</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.81</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.68</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.94</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.17</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.01</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.10</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.91</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.91</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.87</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.14</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.88</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.98</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.27</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.02</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.31</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.89</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.89</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.68</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.20</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.10</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.01</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.63</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.03</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.02</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.59</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.81</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.81</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.88</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.60</font></div>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.43</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.49</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.07</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.09</font></div>
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<td align="left" valign="bottom" width="2%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.02</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.69</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.38</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.26</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.64</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.10</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.82</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="5" valign="bottom" width="21%">
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<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
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<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.93</font></div>
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<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.02</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.50</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.23</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.01</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.28</font></div>
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<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.74</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.04</font></div>
</td>
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</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.78</font></div>
</td>
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</td>
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<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.43</font></div>
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<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.44</font></div>
</td>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(a)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The amounts shown are based on common share equivalents.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(b)</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.</font></div>
</td>
</tr><tr>
<td valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="96%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Return Based on Common Share Net Asset Value is the combination of changes in common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">60</font></div>
</td>
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<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
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</div>
</div>

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</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td colspan="6" valign="bottom" width="23%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td colspan="17" valign="bottom" width="70%" style="BORDER-BOTTOM: black 1px solid">
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</td>
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<td colspan="6" valign="bottom" width="23%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total Returns</font></div>
</td>
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<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios to Average Net Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable to Common Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Before Reimbursement(c)</font></div>
</td>
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<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios to Average Net Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable to Common Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">After Reimbursement(c)(d)</font></div>
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<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Based</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">on</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Based</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">on</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Market</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">to Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares (000)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(e)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (Loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(e)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (Loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Turnover</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Rate</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(h)</font></font></td>
</tr><tr bgcolor="#cceeff">
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9.71</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(16.47</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">80,215</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.09</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.20</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
</td>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.89</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.10</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">91,337</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.12</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.01</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">25.65</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31.68</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">87,755</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.29</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.02</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.63</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.34</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">74,275</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.69</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.66</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17.06</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28.13</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">78,581</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.30</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.18</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6.92</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17.22</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">71,260</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.57</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.06</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.81</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.51</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">78,966</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.34</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.56</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13.60</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(19.79</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,755</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.64</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.71</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.39</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.80</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">374,096</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.60</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.44</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">25.30</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32.82</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">349,203</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.50</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.84</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.57</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.54</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">297,629</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.18</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.18</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21.97</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24.62</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">325,791</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.21</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.63</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.18</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.66</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.45</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(14.14</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">284,221</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.31</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.92</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.24</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.99</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.85</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.84</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">338,732</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.26</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.77</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.92</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(c)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to Auction Rate Preferred Shares (&#8220;ARPS&#8221;), MTP Shares and/or VRDP Shares, where applicable.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(d)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">After expense reimbursement from the Adviser, where applicable. As of July 31, 2009, the Adviser is no longer reimbursing California Dividend Advantage (NAC) for any fees or expenses.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(e)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares, VRDP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Note 1 &#8211; General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Variable Rate Demand Preferred Shares and Note 3 &#8211;Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, respectively, as follows:</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.03</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.01</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.14</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.55</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.06</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.20</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.62</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.61</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.46</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.06</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.08</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.14</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(f)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended February 28, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(g)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended August 31, 2013.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(h)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 &#8211; Investment Transactions) divided by the average long-term market value during the period.</font></div>
</td>
</tr></table>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Annualized.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rounds to less than $.01 per share.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fund did not have, or no longer has, a contractual reimbursement agreement with the Adviser.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">61</font></div>
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</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Financial Highlights </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Selected data for a common share outstanding throughout each period:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="14%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="14" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment Operations</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Less Distributions</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Beginning</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(Loss)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized/</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Unrealized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gain (Loss)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Auction Rate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preferred Shareholders</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(a)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Accumulated</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gains to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Auction Rate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preferred Shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(a)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">From</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">holders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">From</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Accumu-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">lated</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gains to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">holders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Discount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Repurchased</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">and</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Retired</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Market</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="13" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
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<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="7" valign="bottom" width="28%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16.35</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.37</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.66</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.29</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.45</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.45</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.61</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.76</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.49</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.85</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.96</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.81</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.95</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.95</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16.35</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16.30</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.47</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.90</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.08</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.98</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.96</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.96</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.49</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.58</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.49</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.03</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.07</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.02</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.06</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.96</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.96</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.47</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.83</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.91</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.07</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.43</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.04</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.46</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.88</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.88</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.49</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.56</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.39</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.51</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.47</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.11</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.01</font></div>
</td>
<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.08</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.36</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.04</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.40</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.91</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.51</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="4" valign="bottom" width="21%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.69</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.01</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.37</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.25</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.39</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.69</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.69</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.39</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.67</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="14%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.71</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.36</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.32</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.96</font></div>
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<td align="left" valign="bottom" width="1%">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.40</font></div>
</td>
<td align="left" valign="bottom" width="1%">
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.40</font></div>
</td>
<td align="left" valign="bottom" width="1%">
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<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.35</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.54</font></div>
</td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.91</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.75</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.90</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.65</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.85</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.85</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.71</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.25</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.13</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.82</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.86</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.68</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.90</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.90</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.91</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.35</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.18</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.88</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.02</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.01</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.15</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.90</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.90</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.13</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.67</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.53</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.98</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.53</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.03</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.48</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.83</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.83</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.18</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.67</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.62</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.50</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.13</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.09</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.72</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.37</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.37</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.53</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.23</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="4" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.25</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.03</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.70</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.25</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.08</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.71</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.71</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.62</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.87</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(a)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The amounts shown are based on common share equivalents.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(b)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.</font></div>
</td>
</tr><tr>
<td valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="96%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Return Based on Common Share Net Asset Value is the combination of changes in common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">62</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td colspan="6" valign="bottom" width="23%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="18" valign="bottom" width="71%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios/Supplemental Data</font></div>
</td>
</tr><tr>
<td colspan="6" valign="bottom" width="23%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total Returns</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios to Average Net Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable to Common Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Before Reimbursement(c)</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios to Average Net Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable to Common Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">After Reimbursement(c)(d)</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Based</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">on</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Based</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">on</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Market</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">to Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares (000)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(e)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (Loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(e)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (Loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Turnover</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Rate</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(h)</font></font></td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(14.24</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(19.19</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">200,838</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.48</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4.97</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.94</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.03</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">241,237</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.19</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.29</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22.90</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30.01</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">228,474</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.30</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.29</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.30</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.30</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12</font></div>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.64</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.37</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">198,675</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.36</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.10</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.28</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.19</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19.52</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38.29</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">213,687</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.20</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.58</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.04</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.74</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7.40</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13.83</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">190,824</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.37</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.85</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.14</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.08</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.76</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.80</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">212,890</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.25</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.56</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.99</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.83</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(13.54</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(16.41</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">298,225</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.53</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.22</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.15</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.41</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">355,163</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.53</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.22</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22.89</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31.93</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">335,830</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.56</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.28</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.52</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.33</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.40</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.21</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">292,563</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.07</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.61</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.94</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.74</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22.17</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32.93</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">317,860</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.36</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.68</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.16</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.88</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(12.54</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17.58</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">278,056</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.39</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.50</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.13</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8.75</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.60</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.46</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">328,659</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.21</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.96</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.90</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7.27</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">23</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
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</td>
<td align="left" valign="top" width="96%">
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</td>
</tr><tr>
<td align="left" valign="top" width="4%">
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</td>
<td align="left" valign="top" width="96%">
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</td>
</tr><tr>
<td align="left" valign="top" width="4%">
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</td>
<td align="left" valign="top" width="96%">
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</tr></table>
</div>

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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.44</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.15</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.25</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.26</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.04</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.05</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.09</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.51</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.47</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.49</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.94</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.19</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.12</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.02</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(f)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended February 28, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(g)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended August 31, 2013.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(h)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 &#8211; Investment Transactions) divided by the average long-term market value during the period.</font></div>
</td>
</tr></table>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Annualized.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rounds to less than $.01 per share.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fund no longer has a contractual reimbursement agreement with the Adviser.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">63</font></div>
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</tr></table>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Financial Highlights </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Selected data for a common share outstanding throughout each period:</font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="14%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="14" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment Operations</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Less Distributions</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="6%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Beginning</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(Loss)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized/</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Unrealized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gain (Loss)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Auction Rate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preferred Shareholders</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(a)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Distributions</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Accumulated</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Realized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gains to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Auction Rate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preferred Shareholders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(a)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">From</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">holders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">From</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Accumu-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">lated</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Realized</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Gains to</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share-</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">holders</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Discount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">from</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Repurchased</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">and</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Retired</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
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<td align="right" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Market</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
</td>
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</tr><tr bgcolor="#cceeff">
<td align="left" colspan="10" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="7" valign="bottom" width="28%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.57</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.42</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.34</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
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</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.92</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.42</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
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</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.42</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right">
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</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.23</font></div>
</td>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.04</font></div>
</td>
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</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.73</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.77</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.97</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.74</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.88</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.02</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.90</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.57</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.12</font></div>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.82</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.83</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.91</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.74</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.83</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.83</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.73</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.06</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.03</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.81</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.22</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.41</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.80</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.80</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.82</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.78</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.85</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.85</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.09</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.94</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.76</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.76</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.03</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.87</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="14%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.19</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.39</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(1.32</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.01</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.94</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.35</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.05</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.40</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.85</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11.75</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" colspan="4" valign="bottom" width="21%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.47</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.97</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.30</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.24</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.43</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.71</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(.71</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">14.19</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13.78</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(a)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The amounts shown are based on common share equivalents.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(b)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.</font></div>
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<td valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="96%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total Return Based on Common Share Net Asset Value is the combination of changes in common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">64</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="18" valign="bottom" width="71%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios/Supplemental Data</font></div>
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<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total Returns</font></div>
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<td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios to Average Net Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable to Common Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Before Reimbursement(c)</font></div>
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<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ratios to Average Net Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable to Common Shares</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">After Reimbursement(c)(d)</font></div>
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<td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Based</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">on</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Based</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">on</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Market</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Value</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ending</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Assets</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Applicable</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">to Common</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares (000)</font></div>
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<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(e)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (Loss)</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(e)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Net</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (Loss)</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Turnover</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Rate</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">(h)</font></font></td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(12.54</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(17.83</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)%</font></div>
</td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">553,645</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.63</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.65</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12.08</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.53</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">651,402</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.64</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.48</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21.95</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">36.10</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">86,731</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.90</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.03</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7</font></div>
</td>
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</tr><tr bgcolor="white">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(3.18</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2.71</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">75,493</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.06</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.74</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.97</font></div>
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<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.83</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">15.49</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16.39</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">82,579</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.68</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.11</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.47</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.32</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">***&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(6.42</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(11.55</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">75,661</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.57</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5.89</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.27</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.19</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.97</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.12</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">83,531</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.33</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.28</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.94</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6.67</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(c)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to VRDP Shares, where applicable.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(d)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">After expense reimbursement from the Adviser, where applicable. As of November 30, 2010, the Adviser is no longer reimbursing California AMT-Free Income (NKX) for any fees or expenses.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(e)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The expense ratios reflect, among other things, all interest expense and other costs related to VRDP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, both as described in Note 1 &#8211; General Information and Significant Accounting Policies, Variable Rate Demand Preferred Shares and Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, respectively, as follows:</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(g)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.63</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%*</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.59</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.67</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.92</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.57</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(f)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1.03</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="88%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.08</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(f)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended February 28, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(g)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended August 31, 2013.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(h)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 &#8211; Investment Transactions) divided by the average long-term market value during the period.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Annualized.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">**</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Rounds to less than $.01 per share.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">***</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Calculates to less than 1%.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">N/A</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Fund no longer has a contractual reimbursement agreement with the Adviser.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">65</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Financial Highlights </font>(Unaudited) (continued)</font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="24%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">ARPS at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">VRDP Shares at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">MTP Shares at the End of Period (a)</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per $25,000 Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage Per</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">$100,000 Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per $10 Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="4" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(b)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32.76</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35.91</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34.90</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31.07</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34,375</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">82,150</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(c)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">40,875</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">68,584</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">70,910</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="24%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="4" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(b)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">330,363</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">374,666</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">356,390</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135,525</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">79,903</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135,525</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">85,098</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(c)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135,525</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">77,430</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="24%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">135,525</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">87,485</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(a)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The Ending and Average Market Value Per Share for each Series of the Fund&#8217;s MTP Shares were as follows:</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="45%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2014</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2011</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(d)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series 2015 (NCU PRC)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="45%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ending Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.02</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.06</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.63</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.02</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.84</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.74</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">^&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(b)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended August 31, 2013.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(c)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended February 28, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(d)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The Fund did not issue MTP Shares prior to the fiscal year ended February 28, 2011.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">^</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the period September 22, 2010 (first issuance date of shares) through February 28, 2011.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">66</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="19%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="20%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">ARPS at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">VRDP Shares at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">MTP Shares at the End of Period (a)</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">ARPS MTP and/or</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">VRDP Shares at</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per $25,000</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per $100,000</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">)</font></font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per $10</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset Coverage</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Per $1</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Liquidation</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Preference</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="7" valign="bottom" width="40%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(b)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">202,548</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,846</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20.25</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,846</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">34.65</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,846</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">33.35</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">39,950</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">77,310</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30.92</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.09</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">93,775</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">81,968</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(c)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">110,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">68,369</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">110,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">73,384</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="19%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="7" valign="bottom" width="40%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(b)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,545</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28.69</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,545</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">32.26</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,545</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31.05</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">69,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">71,960</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">86,250</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">28.78</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.88</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">69,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">76,021</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">86,250</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">30.41</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3.04</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(c)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">154,075</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">70,117</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 8/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,925</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">76,377</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(a)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">The Ending and Average Market Value Per Share for each Series of the Fund&#8217;s MTP Shares were as follows:</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2014</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(b)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2010</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(d)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series 2014 (NVX PRA)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ending Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.98</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.11</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.07</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.09</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#937;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series 2015 (NVX PRC)</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ending Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.98</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.01</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.82</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.02</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.04</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.89</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9.72</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="35%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series 2014 (NZH PRA)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ending Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.02</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.17</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.04</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.09</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.11</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#937;&#937;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series 2014-1 (NZH PRA)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ending Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.02</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.05</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.15</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.08</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.12</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#937;&#937;&#937;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series 2015 (NZH PRC)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Ending Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.14</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.18</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.06</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.11</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average Market Value per Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.08</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.13</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.11</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.14</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10.09</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">^&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(b)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended August 31, 2013.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(c)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the six months ended February 28, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(d)</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Dividend Advantage 2 (NVX) and California Dividend Advantage 3 (NZH) did not issue MTP Shares prior to the fiscal year ended February 28, 2011 and February 28, 2010, respectively.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">^</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the period December 21, 2009 (first issuance date of shares) through February 28, 2010.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">^^</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the period October 22, 2010 (first issuance date of shares) through February 28, 2011.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#937;</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the period March 29, 2011 (first issuance date of shares) through February 29, 2012.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#937;&#937;</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the period April 11, 2011 (first issuance date of shares) through February 29, 2012.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#937;&#937;&#937;</font></div>
</td>
<td align="left" valign="top" width="96%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the period June 6, 2011 (first issuance date of shares) through February 29, 2012.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">67</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Financial Highlights </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="63%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="24%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">VRDP Shares at the End of Period</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Aggregate</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Asset</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Coverage Per</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="63%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(000</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">$100,000 Share</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Year Ended 2/28-2/29:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014(b)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,600</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">289,865</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,600</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">323,389</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">344,312</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">312,655</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">332,616</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2009(c)</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">313,131</font></div>
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<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2008</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500</font></div>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">335,299</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">See accompanying notes to financial statements.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">1. General Information and Significant Accounting Policies</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">General Information</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The funds covered in this report and their corresponding New York Stock Exchange (&#8220;NYSE&#8221;) or NYSE MKT symbols are as follows (each a &#8220;Fund&#8221; and collectively, the &#8220;Funds&#8221;):</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#8226;&#160; &#160;Nuveen California Premium Income Municipal Fund (NCU) (&#8220;California Premium Income (NCU)&#8221;)</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#8226;&#160;&#160; Nuveen California Dividend Advantage Municipal Fund (NAC) (&#8220;California Dividend Advantage (NAC)&#8221;)</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#8226;&#160;&#160; Nuveen California Dividend Advantage Municipal Fund 2 (NVX) (&#8220;California Dividend Advantage 2 (NVX)&#8221;)</font></font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160;</font></font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#8226;&#160;&#160; Nuveen California Dividend Advantage Municipal Fund 3 (NZH) (&#8220;California Dividend Advantage 3 (NZH)&#8221;)</font></font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160;</font></font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#8226;&#160;&#160; Nuveen California AMT-Free Municipal Income Fund (NKX) (&#8220;California AMT-Free Income (NKX)&#8221;)</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Funds are registered under the Investment Company Act of 1940, as amended, as diversified closed-end registered investment companies. California Premium Income (NCU), California Dividend Advantage (NAC), California Dividend Advantage 2 (NVX), California Dividend Advantage 3 (NZH) and California AMT-Free Income (NKX) were organized as Massachusetts business trusts on February 10, 1993, December 1, 1998, June 1, 1999, April 6, 2001 and July 29, 2002 respectively.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Funds&#8217; investment adviser is Nuveen Fund Advisors, LLC (the &#8220;Adviser&#8221;), a wholly-owned subsidiary of Nuveen Investments, Inc. (&#8220;Nuveen&#8221;). The Adviser is responsible for each Fund&#8217;s overall investment strategy and asset allocation decisions. The Adviser has entered into sub-advisory agreements with the Nuveen Asset Management, LLC, (the &#8220;Sub-Adviser&#8221;), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund seeks to provide current income exempt from both regular federal and California state income taxes, and in the case of California AMT-Free Income (NKX) the alternative minimum tax applicable to individuals, by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within the state of California or certain U.S. territories.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Significant Accounting Policies</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Investment Transactions</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Investment transactions are recorded on a trade date basis. Realized gains and losses from investment transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes. Investments purchased on a when-issued/delayed delivery basis may have extended settlement periods. Any investments so purchased are subject to market fluctuation during this period. The Funds have instructed the custodian to earmark securities in the Funds&#8217; portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments. As of August 31, 2013, there were no such outstanding purchase commitments in any of the Funds.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Investment Income</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Investment income, which reflects the amortization of premiums and includes accretion of discounts for financial reporting purposes, is recorded on an accrual basis. Investment income also reflects paydown gains and losses, if any.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Professional Fees</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment, or to pursue other claims or legal actions on behalf of Fund shareholders. Should a Fund receive a refund of workout expenditures paid in a prior reporting period, such amounts will be recognized as &#8220;Legal fee refund&#8221; on the Statement of Operations.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Notes to Financial Statements </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Dividends and Distributions to Common Shareholders</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Dividends from net investment income are declared monthly. Net realized capital gains and/or market discount from investment transactions, if any, are distributed to shareholders at least annually. Furthermore, capital gains are distributed only to the extent they exceed available capital loss carryforwards. </font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160;</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Distributions to common shareholders of net investment income, net realized capital gains and/or market discount, if any, are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Auction Rate Preferred Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is authorized to issue Auction Rate Preferred Shares (&#8220;ARPS&#8221;). During prior fiscal periods, the Funds redeemed all of their outstanding ARPS, at liquidation value.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">MuniFund Term Preferred Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The following Funds have issued and outstanding MuniFund Term Preferred (&#8220;MTP&#8221;) Shares, with a $10 stated (&#8220;par&#8221;) value per share. Each Fund&#8217;s MTP Shares are issued in one or more Series and trade on NYSE/NYSE MKT. Dividends on MTP Shares, which are recognized as interest expense for financial reporting purposes, are paid monthly at a fixed annual rate, subject to adjustments in certain circumstances.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On September 9, 2013 (subsequent to the close of this reporting period), California Dividend Advantage 2 (NVX) redeemed all series of the Fund&#8217;s MTP Shares, at their $10.00 liquidation value per share plus an additional amount representing any dividend amounts owed. The Fund used the proceeds from its August 29, 2013 issuance of 980 Variable Rate Demand Preferred Shares to qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act of 1933 to redeem the MTP Shares.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, the details of each Fund&#8217;s MTP Shares outstanding were as follows:</font></font></div>

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<td colspan="2" valign="bottom" width="13%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="13%">
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Rate</font></div>
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<td align="left" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NCU PRC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,525,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX PRA</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,284,630</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42,846,300</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.35</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX PRC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,500,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">55,000,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.05</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRA</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,700,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">27,000,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.35</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014-1</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRB</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,629,450</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">46,294,500</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.25</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">8,625,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">86,250,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2.95</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;MTP Shares noticed for redemption.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is obligated to redeem its MTP Shares by the date as specified in its offering document (&#8220;Term Redemption Date&#8221;), unless earlier redeemed or repurchased by the Fund. MTP Shares are subject to optional and mandatory redemption in certain circumstances. MTP Shares were subject to redemption at the option of each Fund (&#8220;Optional Redemption Date&#8221;), subject to a payment of premium for one year following the Optional Redemption Date (&#8220;Premium Expiration Date&#8221;), and at par thereafter. MTP Shares also will be subject to redemption, at the option of each Fund, at par in the event of certain changes in the credit rating of the MTP Shares. Each Fund may be obligated to redeem certain of the MTP Shares if the Fund fails to maintain certain asset coverage and leverage ratio requirements and such failures are not cured by the applicable cure date. The redemption price per share is equal to the sum of the liquidation value per share plus any accumulated but unpaid dividends. The Term Redemption Date, Optional Redemption Date and Premium Expiration Date for each Fund&#8217;s series of MTP Shares by NYSE/NYSE MKT ticker symbol are as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<tr>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NYSE MKT</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Redemption</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Redemption</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Expiration</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ticker</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Date</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Date</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Date</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NCU PRC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">October 1, 2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Date</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Date</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRA</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">May 1, 2014</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">May 1, 2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">April 30, 2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="27%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014-1</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRB</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">July 1, 2014</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">July 1, 2012</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">June 30, 2013</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="27%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NZH PRC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">January 1, 2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">January 1, 2011</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">December 31, 2011</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The average liquidation value for all series of MTP Shares outstanding for each Fund during the six months ended August 31, 2013, was as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="48%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average liquidation value of MTP Shares outstanding</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,250,000</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">97,846,300</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">159,544,500</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">For financial reporting purposes only, the liquidation value of MTP Shares is recorded as a liability and recognized as &#8220;MuniFund Term Preferred (MTP) Shares, at liquidation value&#8221; on the Statement of Assets and Liabilities. Unpaid dividends on MTP Shares are recognized as a component of &#8220;Interest payable&#8221; on the Statement of Assets and Liabilities. Dividends paid on MTP Shares are recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations. Costs incurred by the Funds in connection with their offerings of MTP Shares were recorded as a deferred charge, which are amortized over the life of the shares and are recognized as components of &#8220;Deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations. In conjunction with California Dividend Advantage 2&#8217;s (NVX) redemption of MTP Shares, the remaining deferred offering costs of $569,616 were fully expensed during the current fiscal period, as the redemption was deemed an extinguishment of debt.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Variable Rate Demand Preferred Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The following Funds have issued and outstanding Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, with a $100,000 liquidation value per share. California Dividend Advantage (NAC), California Dividend Advantage 2 (NVX) and California AMT-Free Income (NKX) issued their VRDP Shares in privately negotiated offerings. The VRDP Shares were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During the current period, California Dividend Advantage 2 (NVX) issued 980 Series 1 VRDP Shares through a private negotiated offering, which were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, the number of VRDP Shares outstanding and maturity date for each Fund are as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="35%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares Outstanding at</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">$100,000 Per Share</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="2" valign="bottom" width="12%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Outstanding</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Liquidation Value</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Maturity</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,362</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">June 1, 2041</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">980</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">August 3, 2043</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="35%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">355</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,500,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">June 1, 2040</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="35%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">427</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42,700,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">March 1, 2040</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="35%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,090</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">109,000,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">December 1, 2040</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,044</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">104,400,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">June 1, 2041</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Dividends on the VRDP Shares (which are treated as interest payments for financial reporting purposes) are set weekly at a rate established by a remarketing agent; therefore, the market value of the VRDP Shares is expected to approximate its liquidation value. If remarketings for VRDP Shares are continuously unsuccessful for six months, the maximum rate is designed to escalate according to a specified schedule in order to enhance the remarketing agent&#8217;s ability to successfully remarket the VRDP Shares.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">71</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Notes to Financial Statements </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Subject to certain conditions, VRDP Shares may be redeemed, in whole or in part, at any time at the option of each Fund. Each Fund may also redeem certain of the VRDP Shares if the Fund fails to maintain certain asset coverage requirements and such failures are not cured by the applicable cure date. The redemption price per share is equal to the sum of the liquidation value per share plus any accumulated but unpaid dividends.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The average liquidation value of VRDP Shares outstanding and annualized dividend rate for each Fund during the six months ended August 31, 2013, were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="48%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
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<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
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<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<td align="left" valign="bottom" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average liquidation value of VRDP Shares outstanding</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">136,200,000</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">291,600,000</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="48%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Annualized dividend rate</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.29<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.16<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.23<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Common Shares Equity Shelf Programs and Offering Costs</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Under these Shelf Offerings, the Funds, subject to market conditions, may raise additional equity capital from time to time in varying amounts and offering methods at a net price at or above each Fund&#8217;s net asset value (&#8220;NAV&#8221;) per common share.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Costs incurred by the Funds in connection with their initial Shelf Offerings are recorded as a deferred charge, which will be amortized over the period such additional common shares are sold not to exceed the one-year life of the Shelf Offering period and are recognized as a component of &#8220;Deferred offering costs&#8221; on the Statement of Assets and Liabilities. Ongoing Shelf Offering costs, and any additional costs the Funds may incur in connection with the Shelf Offerings, are expensed as incurred and recorded as a component of &#8220;Proceeds from shelf offering, net of offering costs&#8221; on the Statement of Changes in Net Assets.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Indemnifications</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Under the Funds&#8217; organizational documents, their officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts that provide general indemnifications to other parties. The Funds&#8217; maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Netting Agreements</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In the ordinary course of business, the Funds have entered into transactions subject to enforceable master repurchase agreements, International Swaps and Derivative Association, Inc. (&#8220;ISDA&#8221;) master agreements or other similar arrangements (&#8220;netting agreements&#8221;). Generally, the right to offset in netting agreements allows each Fund to offset any exposure to a specific counterparty with any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, a Fund manages its cash collateral and securities collateral on a counterparty basis. As of August 31, 2013, the Funds were not invested in any portfolio securities or derivatives that are subject to netting agreements.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Use of Estimates</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets applicable to common shares from operations during the reporting period. Actual results may differ from those estimates.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">72</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">2. Investment Valuation and Fair Value Measurements</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Investment Valuation</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Prices of municipal bonds are provided by a pricing service approved by the Funds&#8217; Board of Trustees. These securities are generally classified as Level 2 for fair value measurement purposes. The pricing service establishes a security&#8217;s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer, or market activity, provided by the Adviser. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Funds&#8217; Board of Trustees or its designee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund&#8217;s net asset value (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security&#8217;s fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of those securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Funds&#8217; Board of Trustees or its designee.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Fair Value Measurements</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Fair value is defined as the price that the Funds would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity&#8217;s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.</font></font></div>

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<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Level 1 &#8211;&#160;&#160; </font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.</font></div>
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<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Level 2 &#8211;&#160;&#160; </font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).</font></div>
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<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Level 3 &#8211;&#160;&#160; </font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Prices are determined using significant unobservable inputs (including management&#8217;s assumptions in determining the fair value of investments).</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of each Fund&#8217;s fair value measurements as of the end of the reporting period:</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 1</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 2</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long-Term Investments*:</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Municipal Bonds</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">118,361,945</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
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</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">118,361,945</font></div>
</td>
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</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 1</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 2</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 3</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="42%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long-Term Investments*:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">476,630,488</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">476,630,488</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="42%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long-Term Investments*:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">293,552,149</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">293,552,149</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="42%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long-Term Investments*:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">426,418,148</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">426,418,148</font></div>
</td>
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</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 1</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="42%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long-Term Investments*:</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">824,684,670</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">824,684,670</font></div>
</td>
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</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*</font></div>
</td>
<td align="left" valign="bottom" width="98%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Refer to the Fund&#8217;s Portfolio of Investments for industry classifications.</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="bottom" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">73</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Notes to Financial Statements </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Nuveen funds&#8217; Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser&#8217;s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds&#8217; pricing policies and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser&#8217;s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making a fair value determination, based on the facts and circumstances specific to the portfolio instrument. Fair value determinations generally will be derived as follows, using public or private market information:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;(i)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="93%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.</font></div>
</td>
</tr><tr>
<td align="right" valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
<td align="left" valign="top" width="93%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></td>
</tr><tr>
<td align="right" valign="top" width="5%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(ii)</font></div>
</td>
<td valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="93%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The purchase price of a portfolio instrument will be used to fair value the instrument only if no other valuation methodology is available or deemed appropriate, and it is determined that the purchase price fairly reflects the instrument&#8217;s current value.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">3. Portfolio Securities and Investments in Derivatives</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Portfolio Securities</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Inverse Floating Rate Securities</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. In turn, this trust (a) issues floating rate certificates, in face amounts equal to some fraction of the deposited bond&#8217;s par amount or market value, that typically pay short-term tax-exempt interest rates to third parties, and (b) issues to a long-term investor (such as one of the Funds) an inverse floating rate certificate (sometimes referred to as an &#8220;inverse floater&#8221;) that represents all remaining or residual interest in the trust. The income received by the inverse floater holder varies inversely with the short-term rate paid to the floating rate certificates&#8217; holders, and in most circumstances the inverse floater holder bears substantially all of the underlying bond&#8217;s downside investment risk and also benefits disproportionately from any potential appreciation of the underlying bond&#8217;s value. The price of an inverse floating rate security will be more volatile than that of the underlying bond because the interest rate is dependent on not only the fixed coupon rate of the underlying bond but also on the short-term interest paid on the floating rate certificates, and because the inverse floating rate security essentially bears the risk of loss of the greater face value of the underlying bond.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">A Fund may purchase an inverse floating rate security in a secondary market transaction without first owning the underlying bond (referred to as an &#8220;externally-deposited inverse floater&#8221;), or instead by first selling a fixed-rate bond to a broker-dealer for deposit into the special purpose trust and receiving in turn the residual interest in the trust (referred to as a &#8220;self-deposited inverse floater&#8221;). The inverse floater held by a Fund gives the Fund the right (a) to cause the holders of the floating rate certificates to tender their notes at par, and (b) to have the broker transfer the fixed-rate bond held by the trust to the Fund, thereby collapsing the trust. An investment in an externally-deposited inverse floater is identified in the Portfolio of Investments as &#8220;(IF) &#8211; Inverse floating rate investment.&#8221; An investment in a self-deposited inverse floater is accounted for as a financing transaction. In such instances, a fixed-rate bond deposited into a special purpose trust is identified in the Portfolio of Investments as &#8220;(UB) &#8211; Underlying bond of an inverse floating rate trust reflected as a financing transaction,&#8221; with the Fund accounting for the short-term floating rate certificates issued by the trust, at their liquidation value, as &#8220;Floating rate obligations&#8221; on the Statement of Assets and Liabilities. In addition, the Fund reflects in &#8220;Investment Income&#8221; the entire earnings of the underlying bond and the related interest paid to the holders of the short-term floating rate certificates as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During the six months ended August 31, 2013, each Fund invested in externally-deposited inverse floaters and/or self-deposited inverse floaters.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">74</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a &#8220;recourse trust&#8221; or &#8220;credit recovery swap&#8221;) (such agreements referred to herein as &#8220;Recourse Trusts&#8221;) with a broker-dealer by which a Fund agrees to reimburse the broker-dealer, in certain circumstances, for the difference between the liquidation value of the fixed-rate bond held by the trust and the liquidation value of the floating rate certificates issued by the trust plus any shortfalls in interest cash flows. Under these agreements, a Fund&#8217;s potential exposure to losses related to or on inverse floaters may increase beyond the value of a Fund&#8217;s inverse floater investments as a Fund may potentially be liable to fulfill all amounts owed to holders of the floating rate certificates. At period end, any such shortfall is recognized as &#8220;Unrealized depreciation on Recourse Trusts&#8221; on the Statement of Assets and Liabilities.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, each Fund&#8217;s maximum exposure to the floating rate obligations issued by externally-deposited Recourse Trusts, was as follows:</font></font></div>

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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Maximum exposure to Recourse Trusts</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,510,000</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,590,000</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,960,000</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">48,960,000</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">31,250,000</font></div>
</td>
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</tr></table>
</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
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</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
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</tr><tr>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average floating rate obligations outstanding</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,525,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">43,841,223</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,783,533</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">845,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">27,588,043</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Average annual interest rate and fees</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.51<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.59<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.60<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.68<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">0.60<font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Zero Coupon Securities</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is authorized to invest in zero coupon securities. A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Investments in Derivatives</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is authorized to invest in certain derivative instruments such as futures, options and swap contracts. Each Fund will limit its investments in futures, options on futures and swap contracts to the extent necessary for the Adviser to claim the exclusion from registration by the Commodity Futures Trading Commission as a commodity pool operator with respect to the Fund. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds&#8217; investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes. Although the Funds are authorized to invest in derivative instruments and may do so in future, they did not make any such investments during the six months ended August 31, 2013.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Market and Counterparty Credit Risk</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund&#8217;s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">4. Fund Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Common Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Funds have not repurchased any of their outstanding common shares during the six months ended August 31, 2013 and fiscal year ended February 28, 2013.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">75</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Notes to Financial Statements </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Transactions in common shares were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (NCU)</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage (NAC)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,157</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,517</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38,134</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="42%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160;</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="42%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common shares:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,236</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">11,279</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,652</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="65%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="5" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income (NKX)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">8/31/13</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">2/28/13</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Common shares:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Issued in reorganizations</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">35,902,926</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">51,960</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Preferred Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">California Premium Income (NCU) and California Dividend Advantage 3 (NZH) did not have any transactions in MTP Shares during the six months ended August 31, 2013. California Premium Income (NCU), California Dividend Advantage 2 (NVX) and California Dividend Advantage 3 (NZH) did not have any transactions in MTP Shares during the fiscal year ended February 28, 2013.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Transactions in MTP Shares for the Funds, where applicable, were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="11" valign="bottom" width="45%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="11" valign="bottom" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">August 31, 2013</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NYSE/</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">NYSE MKT</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Ticker</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">MTP Shares noticed for redemption</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2014</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX PRA</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(4,284,630</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(42,846,300</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="42%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2015</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">NVX PRC</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5,500,000</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(55,000,000</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,784,630</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(97,846,300</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">California Dividend Advantage (NAC) and California AMT-Free Income (NKX) did not have any transactions in VRDP Shares during the six months ended August 31, 2013. California Dividend Advantage (NAC) and California Dividend Advantage 2 (NVX) did not have any transactions in VRDP Shares during the fiscal year ended February 28, 2013.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">76</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Transactions in VRDP Shares for the Funds, where applicable, were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="53%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="33%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Six Months Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">August 31, 2013</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">VRDP Shares issued</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">980</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">98,000,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="53%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="33%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Year Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td colspan="8" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">February 28, 2013</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Series</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Amount</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">VRDP Shares issued</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">427</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">42,700,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="53%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">740</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">74,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="53%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">530</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">53,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,044</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">104,400,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,741</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">274,100,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;VRDP Shares issued in connection with the Reorganizations.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">5. Investment Transactions</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Purchases and sales (including maturities but excluding short-term investments, where applicable) during the six months ended August 31, 2013, were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Purchases</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,422,302</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">84,791,111</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">66,372,399</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">93,539,520</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">123,403,076</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Sales and maturities</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">13,552,926</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">79,010,868</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">81,548,035</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">128,937,573</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">162,659,427</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">6. Income Tax Information</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. Furthermore, each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal and California state income taxes, and in the case of California AMT-Free Income (NKX) the alternative minimum tax applicable to individuals, to retain such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">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 as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset values of the Funds.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">As of August 31, 2013, the cost and unrealized appreciation (depreciation) of investments, as determined on a federal income tax basis, were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="34%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="34%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="34%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Cost of investments</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">109,998,503</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">436,002,009</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">289,917,318</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">434,778,575</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">828,666,601</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="34%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Gross unrealized:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="34%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Appreciation</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,334,280</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">18,681,482</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">9,508,052</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">12,611,166</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">20,073,828</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="34%" style="BORDER-BOTTOM: black 1px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Depreciation</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,499,667</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(21,452,613</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(15,250,471</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(21,816,593</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(32,293,368</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net unrealized appreciation (depreciation) of investments</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,834,613</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(2,771,131</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(5,742,419</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(9,205,427</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(12,219,540</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="bottom" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">77</font></div>
</td>
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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Notes to Financial Statements </font>(Unaudited) (continued)</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Permanent differences, primarily due to federal taxes paid, taxable market discount, nondeductible offering costs, reorganization adjustments and nondeductible reorganization expenses, resulted in reclassifications among the Funds&#8217; components of common share net assets as of February 28, 2013, the Funds&#8217; last tax year end, as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="34%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="34%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="34%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="34%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="34%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Paid-in-surplus</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(172,712</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">19,035</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(482,443</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(827,148</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(962,599</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="34%">
<div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed (Over-distribution of) net investment income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">172,294</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(164,687</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">465,012</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">819,225</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">970,074</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Accumulated net realized gain (loss)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">418</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">145,652</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,431</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">7,923</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(7,475</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">)</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of February 28, 2013, the Funds&#8217; last tax year end, were as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed net tax-exempt income<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,490,902</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,150,666</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,497,312</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,620,061</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">6,311,700</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed net ordinary income<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">2</font></font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,839</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">208</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">38,199</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">2,246</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">17,111</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed net long-term capital gains</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">554,018</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">1</font></font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on February 1, 2013, paid on March 1, 2013.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">2</font></font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</font></div>
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</tr></table>
</div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The tax character of distributions paid during the Funds&#8217; last tax year ended February 28, 2013, was designated for purposes of the dividends paid deduction as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NVX</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Distributions from net tax-exempt income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,662,424</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">22,042,288</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">16,146,699</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,912,763</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">24,898,294</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Distributions from net ordinary income<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">2</font></font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Distributions from net long-term capital gains</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">669,297</font></div>
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</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">2</font></font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Dividend</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
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<td valign="bottom" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage</font></div>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 2</font></div>
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<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Advantage 3</font></div>
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<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
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</tr><tr>
<td valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NAC</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
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</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NZH</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)<font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">5</font></font></font></div>
</td>
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<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Expiration:</font></div>
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</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">February 29, 2016</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
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<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">3,869,938</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">February 28, 2017</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,106,897</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">4,536,999</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">185,948</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">February 28, 2018</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">850,963</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">731,149</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">705,843</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,646,251</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">530,894</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">February 28, 2019</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,340,157</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Not subject to expiration:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Short-term losses</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Long-term losses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">10,769,460</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">499,216</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">5,616,809</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">850,963</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">21,607,506</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">1,205,059</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">26,010,154</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">716,842</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; DISPLAY: inline">5</font></font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">A portion of California AMT-Free Income&#8217;s (NKX) capital loss carryforward is subject to limitation under the Internal Revenue Code and related regulations.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">During the Funds&#8217; last tax year ended February 28, 2013, the following Funds utilized capital loss carryforwards as follows:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="bottom" width="65%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Premium</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">AMT-Free</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="65%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NCU</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">(NKX</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Utilized capital loss carryforwards</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">91,683</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">265,052</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">78</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">7. Management Fees and Other Transactions with Affiliates</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund&#8217;s management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund&#8217;s management fee consists of two components &#8211; a fund-level fee, based only on the amount of assets within the Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables Fund shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The annual fund-level fee for each Fund, payable monthly, is calculated according to the following schedules:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="top" width="49%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Premium Income (NCU)</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Daily Managed Assets*</font></div>
</td>
<td align="right" colspan="2" valign="top" width="49%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Fund-Level Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the first $125 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4500</font></div>
</td>
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $125 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4375</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $250 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4250</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $500 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4125</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $1 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $3 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.3875</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For managed assets over $5 billion</font></div>
</td>
<td align="right" valign="top" width="48%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.3750</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td valign="top" width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="top" width="49%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage (NAC)</font></div>
</td>
</tr><tr>
<td valign="top" width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="top" width="49%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 2 (NVX)</font></div>
</td>
</tr><tr>
<td valign="top" width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="top" width="49%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California Dividend Advantage 3 (NZH)</font></div>
</td>
</tr><tr>
<td valign="top" width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td align="right" colspan="2" valign="top" width="49%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">California AMT-Free Income (NKX)</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Average Daily Managed Assets*</font></div>
</td>
<td align="right" colspan="2" valign="top" width="49%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Fund-Level Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the first $125 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4500</font></div>
</td>
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $125 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4375</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $250 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4250</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $500 million</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4125</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the next $1 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.4000</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For managed assets over $2 billion</font></div>
</td>
<td align="right" valign="top" width="48%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.3750</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The annual complex-level fee for each Fund, payable monthly, is calculated according to the following schedule:</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Complex-Level Managed Asset Breakpoint Level*</font></div>
</td>
<td align="right" colspan="2" valign="top" width="49%" style="BORDER-BOTTOM: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Effective Rate at Breakpoint Level</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$55 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.2000</font></div>
</td>
<td align="left" valign="top" width="1%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$56 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1996</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$57 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1989</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$60 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1961</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$63 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1931</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$66 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1900</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$71 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1851</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$76 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1806</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$80 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1773</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$91 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1691</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$125 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1599</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$200 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1505</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="51%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$250 billion</font></div>
</td>
<td align="right" valign="top" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1469</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">$300 billion</font></div>
</td>
<td align="right" valign="top" width="48%" style="BORDER-BOTTOM: black 2px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">.1445</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="left" valign="top" width="3%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">*</font></div>
</td>
<td align="left" valign="top" width="97%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">For the fund-level and complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the funds&#8217; use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust&#8217;s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen Funds that constitute &#8220;eligible assets.&#8221; Eligible assets do not include assets attributable to investments in other Nuveen Funds and assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser&#8217;s assumption of the management of the former First American Funds effective January 1, 2011. As of August 31, 2013, the complex-level fee rate for these Funds was .1694%.</font></div>
</td>
</tr></table>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr>
<td align="right" valign="top" width="95%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">79</font></div>
</td>
</tr></table>
</div>

<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><br>
</font>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; DISPLAY: inline">&#160; </font></font></div>
</div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Funds pay no compensation directly to those of its trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to the Funds from the Adviser or its affiliates. The Board of Trustees has adopted a deferred compensation plan for independent trustees that enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">8. Subsequent Events</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Refinancing of MTP Shares</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Subsequent to the close of this reporting period, California Dividend Advantage 3 (NZH) redeemed all series of its MTP Shares, at their $10.00 liquidation value per share plus an additional amount representing any dividend amounts owed, with the proceeds of newly issued VRDP Shares. On September 26, 2013, VRDP Shares were issued to qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act of 1933 and California Dividend Advantage 3 (NZH)&#8217;s MTP Shares were redeemed on October 7, 2013.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; DISPLAY: inline">Approved Fund Reorganizations</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">On October 13, 2013 (subsequent to the close of this reporting period) the Nuveen Funds Board of Directors/Trustees approved a series of reorganizations for certain of the California Funds included in this report. The reorganizations are subject to customary conditions, including shareholder approval at annual shareholder meetings in early 2014. Each reorganization is intended to create one, larger-state fund, which would potentially offer shareholders the following benefits:</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lower fund expense ratios (excluding the effects of leverage), as fixed costs are spread over a larger asset base;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Enhanced secondary market trading, as larger funds potentially make it easier for investors to buy and sell fund shares;</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Lower per share trading costs through reduced bid/ask spreads due to a larger common share float; and</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Increased fund flexibility in managing the structure and cost of leverage over time.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The approved reorganizations are as follows:</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">California Premium Income (NCU)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Board of Trustees (each, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Board</font>&#8221; and each Trustee, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Board Member</font>&#8221;) of the Funds, including the Board Members who are not parties to the Funds&#8217; advisory or sub-advisory agreements or &#8220;interested persons&#8221; of any such parties (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Independent Board Members</font>&#8221;), is responsible for approving the advisory agreements (each, an &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Investment Management Agreement</font>&#8221;) between each Fund and Nuveen Fund Advisors, LLC (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Adviser</font>&#8221;) and the sub-advisory agreements (each, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Sub-Advisory Agreement</font>&#8221;) between the Adviser and Nuveen Asset Management, LLC (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Sub-Adviser</font>&#8221;) (the Investment Management Agreements and the Sub-Advisory Agreements are referred to collectively as the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Advisory Agreements</font>&#8221;) and their periodic continuation. Pursuant to the Investment Company Act of 1940, as amended (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">1940 Act</font>&#8221;), the Board is required to consider the continuation of the Advisory Agreements on an annual basis. Accordingly, at an in-person meeting held on May 20-22, 2013 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">May Meeting</font>&#8221;), the Board, including a majority of the Independent Board Members, considered and approved the continuation of the Advisory Agreements for the Funds for an additional one-year period.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The materials and information prepared in connection with the annual review of the Advisory Agreements supplement the information and analysis provided to the Board during the year. In this regard, throughout the year, the Board, acting directly or through its committees, regularly reviews the performance and various services provided by the Adviser and the Sub-Adviser. The Board meets at least quarterly as well as at other times as the need arises. At its quarterly meetings, the Board reviews reports by the Adviser regarding, among other things, fund performance, fund expenses, premium and discount levels of closed-end funds, the performance of the investment teams, and compliance, regulatory and risk management matters. In addition to regular reports, the Adviser provides special reports to the Board or a committee thereof from time to time to enhance the Board&#8217;s understanding of various topics that impact some or all the Nuveen funds (such as accounting and financial statement presentations of the various forms of leverage that may be used by a closed-end fund or an update on the valuation policies and procedures), to update</font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Annual Investment Management Agreement Approval Process </font>(Unaudited) (continued)</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">the Board on regulatory developments impacting the investment company industry or to update the Board on the business plans or other matters impacting the Adviser. The Board also meets with key investment personnel managing the fund portfolios during the year. In October 2011, the Board also created two standing committees (the Open-End Fund Committee and the Closed-End Fund Committee) to assist the full Board in monitoring and gaining a deeper insight into the distinctive business practices of open-end and closed-end funds. These Committees meet prior to each quarterly Board meeting, and the Adviser provides presentations to these Committees permitting them to delve further into specific matters or initiatives impacting the respective product line.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In addition, the Board continues its program of seeking to have the Board Members or a subset thereof visit each sub-adviser to the Nuveen funds at least once over a multiple year rotation, meeting with key investment and business personnel. In this regard, the Independent Board Members visited certain of the Sub-Adviser&#8217;s investment teams in Minneapolis in September 2012, and the Sub-Adviser&#8217;s municipal team in November 2012. In addition, the ad hoc Securities Lending Committee of the Board met with certain service providers and the Audit Committee of the Board made a site visit to three pricing service providers.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Board considers the information provided and knowledge gained at these meetings and visits during the year when performing its annual review of the Advisory Agreements. The Independent Board Members also are assisted throughout the process by independent legal counsel. Counsel provided materials describing applicable law and the duties of directors or trustees in reviewing advisory contracts. During the course of the year and during their deliberations regarding the review of advisory contracts, the Independent Board Members met with independent legal counsel in executive sessions without management present. In addition, it is important to recognize that the management arrangements for the Nuveen funds are the result of many years of review and discussion between the Independent Board Members and fund management and that the Board Members&#8217; conclusions may be based, in part, on their consideration of fee arrangements and other factors developed in previous years.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Board considered all factors it believed relevant with respect to each Fund, including among other factors: (a) the nature, extent and quality of the services provided by the Fund Advisers, (b) the investment performance of the Fund and Fund Advisers, (c) the advisory fees and costs of the services to be provided to the Fund and the profitability of the Fund Advisers, (d) the extent of any economies of scale, (e) any benefits derived by the Fund Advisers from the relationship with the Fund and (f) other factors. Each Board Member may have accorded different weight to the various factors in reaching his or her conclusions with respect to a Fund&#8217;s Advisory Agreements. The Independent Board Members did not identify any single factor as all important or controlling. The Independent Board Members&#8217; considerations were instead based on a comprehensive consideration of all the information presented. The principal factors considered by the Board and its conclusions are described below.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">A. Nature, Extent and Quality of Services</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In considering renewal of the Advisory Agreements, the Independent Board Members considered the nature, extent and quality of the Fund Adviser&#8217;s services, including advisory services and the resulting Fund performance and administrative services. The Independent Board Members further considered the overall reputation and capabilities of the Adviser and its affiliates, the commitment of the Adviser to provide high quality service to the Funds, their overall confidence in the capability and integrity of the Adviser and its staff and the Adviser&#8217;s responsiveness to questions and concerns raised by them. The Independent Board Members reviewed materials outlining, among other things, the Fund Adviser&#8217;s organization and business; the types of services that the Fund Adviser or its affiliates provide to the</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In considering advisory services, the Board recognized that the Adviser provides various oversight, administrative, compliance and other services for the Funds and the Sub-Adviser generally provides the portfolio investment management services to the Funds. In reviewing the portfolio management services provided to each Fund, the Board reviewed the materials provided by the Nuveen Investment Services Oversight Team analyzing, among other things, the Sub-Adviser&#8217;s investment team and changes thereto, organization and history, assets under management, the investment team&#8217;s philosophy and strategies in managing the Fund, developments affecting the Sub-Adviser or Fund and Fund performance. The Independent Board Members also reviewed portfolio manager compensation arrangements to evaluate each Fund Adviser&#8217;s ability to attract and retain high quality investment personnel, preserve stability, and reward performance but not provide an inappropriate incentive to take undue risks. In addition, the Board considered the Adviser&#8217;s execution of its oversight responsibilities over the Sub-Adviser. Given the importance of compliance, the Independent Board Members also considered Nuveen&#8217;s compliance program, including the report of the chief compliance officer regarding the Funds&#8217; compliance policies and procedures; the resources dedicated to compliance; and the record of compliance with the policies and procedures. Given the Adviser&#8217;s emphasis on business risk, the Board also appointed an Independent Board Member as a point person to review and keep the Board apprised of developments in this area during the year.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In addition to advisory services, the Board considered the quality and extent of administrative and other non-investment advisory services the Adviser and its affiliates provide to the Funds, including product management, investment services (such as oversight of investment policies and procedures, risk management, and pricing), fund administration, oversight of service providers, shareholder services and communications, administration of Board relations, regulatory and portfolio compliance, legal support, managing leverage and promoting an orderly secondary market for common shares. The Board further recognized Nuveen&#8217;s additional investments in personnel, including in compliance and risk management.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In reviewing the services provided, the Board considered the new services and service enhancements that the Adviser has implemented since the various advisory agreements were last reviewed. In reviewing the activities of 2012, the Board recognized the Adviser&#8217;s focus on product rationalization for both closed-end and open-end funds during the year, consolidating certain Nuveen funds through mergers that were designed to improve efficiencies and economies of scale for shareholders, repositioning various Nuveen funds through updates in their investment policies and guidelines with the expectation of bringing greater value to shareholders, and liquidating certain Nuveen funds. The Board recognized the Adviser&#8217;s significant investment in technology initiatives to, among other things, create a central repository for fund and other Nuveen product data, develop a group within the Adviser designed to handle and analyze fund performance data, and implement a data system to support the risk oversight group. The Board also recognized the enhancements in the valuation group within the Adviser, including upgrading the team and process and automating certain basic systems, and in the compliance group with the addition of personnel, particularly within the testing group. With the advent of the Open-End Fund Committee and Closed-End Fund Committee, the Board also noted the enhanced support and comprehensive in-depth presentations provided by the Adviser to these committees.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In addition to the foregoing actions, the Board also considered other initiatives related to the Nuveen closed-end funds, including the significant level of oversight and administration necessary to manage leverage that has become increasingly varied and complex and the ongoing redesign of technology systems to manage and track the various</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">forms of leverage; continued capital management services, including developing shelf offering programs for various funds; the implementation of projects designed to enhance data integrity for information published on the web and to increase the use of data received from third parties to gain market intelligence; and the continued communication efforts with shareholders, fund analysts and financial advisers. With respect to the latter, the Independent Board Members noted Nuveen&#8217;s continued commitment to supporting the secondary market for the common shares of its closed-end funds through a comprehensive secondary market communication program and campaigns designed to raise investor and analyst awareness and understanding of closed-end funds. Nuveen&#8217;s support services included, among other things: developing materials covering the Nuveen closed-end fund product line and educational materials regarding closed-end funds; designing and executing various marketing campaigns; supporting and promoting the alternative minimum tax (AMT)-free funds; sponsoring and participating in conferences; communicating with closed-end fund analysts and financial advisers throughout the year; providing marketing and product updates for the closed-end funds; and maintaining and enhancing a closed-end fund website.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Based on their review, the Independent Board Members found that, overall, the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement were satisfactory.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">B. The Investment Performance of the Funds and Fund Advisers</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Board, including the Independent Board Members, considered the performance history of each Fund over various time periods. The Board reviewed reports, including an analysis of the Funds&#8217; performance and the applicable investment team. In general, in considering a fund&#8217;s performance, the Board recognized that a fund&#8217;s performance can be reviewed through various measures including the fund&#8217;s absolute return, the fund&#8217;s return compared to the performance of other peer funds, and the fund&#8217;s performance compared to its respective benchmark. Accordingly, the Board reviewed, among other things, each Fund&#8217;s historic investment performance as well as information comparing the Fund&#8217;s performance information with that of other funds (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Performance Peer Group</font>&#8221;) and with recognized and/or customized benchmarks (i.e., generally benchmarks derived from multiple recognized benchmarks) for the quarter, one-, three- and five-year periods ending December 31, 2012 as well as performance information reflecting the first quarter of 2013. In addition, with respect to closed-end funds (such as the Funds), the Independent Board Members also reviewed historic premium and discount levels, including a summary of actions taken to address or discuss other developments affecting the secondary market discounts of various funds. This information supplemented the fund performance information provided to the Board at each of its quarterly meetings.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In evaluating performance, the Board recognized several factors that may impact the performance data as well as the consideration given to particular performance data. The Board recognized that the performance data reflects a snapshot of time, in this case as of the end of the most recent calendar year or quarter. The Board noted that selecting a different performance period could derive significantly different results. Further, the Board recognized that it is possible that long-term performance can be adversely affected by even one period of significant underperformance so that a single investment decision or theme has the ability to disproportionately affect long-term performance. The Independent Board Members also noted that the investment experience of a particular shareholder in the Nuveen funds will vary depending on when such shareholder invests in the applicable fund, the class held (if multiple classes are offered in a fund) and the performance of the fund (or respective class) during that shareholder&#8217;s investment period.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">With respect to the comparative performance information, the Board recognized that the usefulness of comparative performance data as a frame of reference to measure a fund&#8217;s performance may be limited because the Performance</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Peer Group, among other things, does not adequately reflect the objectives and strategies of the fund, has a different investable universe, or the composition of the peer set may be limited in size or number as well as other factors. In this regard, the Board noted that the Adviser classified, in relevant part, the Performance Peer Groups of certain funds as having significant differences from the funds but to still be somewhat relevant while the Performance Peer Groups of other funds (including the Nuveen California AMT-Free Municipal Income Fund (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">AMT-Free Fund</font>&#8221;)) were classified as having such significant differences as to be irrelevant. Accordingly, while the Board is cognizant of the relative performance of a fund&#8217;s peer set and/or benchmark(s), the Board evaluated fund performance in light of the respective fund&#8217;s investment objectives, investment parameters and guidelines and considered that the variations between the objectives and investment parameters or guidelines of the funds with their peers and/or benchmarks result in differences in performance results. In addition, with respect to any Nuveen funds for which the Board has identified performance concerns, the Board monitors such funds closely until performance improves, discusses with the Adviser the reasons for such results, considers those steps necessary or appropriate to address such issues, and reviews the results of any efforts undertaken.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In considering the performance data for the Funds, the Independent Board Members noted that the Nuveen California Dividend Advantage Municipal Fund (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Dividend Advantage Fund</font>&#8221;) had demonstrated generally favorable performance in comparison to peers, performing in the second quartile over various periods. In addition, the Independent Board Members noted that the Nuveen California Dividend Advantage Municipal Fund 2 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Dividend Advantage Fund 2</font>&#8221;), the Nuveen California Dividend Advantage Municipal Fund 3 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Dividend Advantage Fund 3</font>&#8221;) and the Nuveen California Premium Income Municipal Fund (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Premium Income Fund</font>&#8221;) had satisfactory performance compared to peers, performing in the second or third quartile over various periods and outperforming their respective benchmarks in the one-, three- and five-year periods. In considering the performance data for the AMT-Free Fund, given that, as noted above, the Performance Peer Group for such Fund was classified as irrelevant, thereby limiting the usefulness of the peer comparison data, the Board also considered such Fund&#8217;s performance compared to its benchmark and noted that such Fund had outperformed its benchmark over the one-, three- and five-year periods.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Based on their review, the Independent Board Members determined that each Fund&#8217;s investment performance had been satisfactory.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">1.&#160;&#160;&#160;&#160;Fees and Expenses</font></font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Board evaluated the management fees and expenses of each Fund reviewing, among other things, such Fund&#8217;s gross management fees, net management fees and net expense ratio in absolute terms as well as compared to the fees and expenses of a comparable universe of funds provided by an independent fund data provider (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Peer Universe</font>&#8221;) and any expense limitations.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Independent Board Members further reviewed the methodology regarding the construction of the applicable Peer Universe. In reviewing the comparisons of fee and expense information, the Independent Board Members took into account that in certain instances various factors such as: the limited size and particular composition of the Peer Universe (including the inclusion of other Nuveen funds in the peer set); expense anomalies; changes in the funds comprising the Peer Universe from year to year; levels of reimbursement or fee waivers; the timing of information used; the differences in the type and use of leverage; and differences in the states reflected in the</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Peer Universe may impact the comparative data, thereby limiting somewhat the ability to make a meaningful comparison with peers.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In reviewing the fee schedule for a Fund, the Independent Board Members also considered the fund-level and complex-wide breakpoint schedules (described in further detail below) and any fee waivers and reimbursements provided by Nuveen. In reviewing fees and expenses (excluding leverage costs and leveraged assets, as applicable), the Board considered the expenses and fees to be higher if they were over 10 basis points higher, slightly higher if they were approximately 6 to 10 basis points higher, in line if they were within approximately 5 basis points higher than the peer average and below if they were below the peer average of the Peer Universe. In reviewing the reports, the Board noted that the majority of the Nuveen funds were at, close to or below their peer set average based on the net total expense ratio.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Independent Board Members noted that the Dividend Advantage Fund had a net management fee that was slightly higher than its peer average, but a net expense ratio that was below its peer average. In addition, they noted that the Premium Income Fund had a slightly higher net management fee and net expense ratio compared to its peer averages; the relatively higher expense ratio was generally due to certain limitations with the peer group. They also noted that the AMT-Free Fund had a net expense ratio that was higher than its peer average, but a net management fee that was in line with its peer average. Finally, the Independent Board Members noted that the Dividend Advantage Fund 2 and the Dividend Advantage Fund 3 each had a net management fee that was in line with its respective peer average and a net expense ratio that was below its respective peer average.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Based on their review of the fee and expense information provided, the Independent Board Members determined that each Fund&#8217;s management fees to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">2.&#160;&#160;&#160;&#160;&#160;Comparisons with the Fees of Other Clients</font></font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Board recognized that all Nuveen funds have a sub-adviser (which, in the case of the Funds, is an affiliated sub-adviser), and therefore, the overall fund management fee can be divided into two components, the fee retained by the Adviser and the fee paid to the sub-adviser. In general terms, the fee to the Adviser reflects the administrative services it provides to support the funds, and while some administrative services may occur at the sub-adviser level, the fee generally reflects the portfolio management services provided by the sub-adviser. The Independent Board Members reviewed information regarding the nature of services provided by the Adviser, including through the Sub-Adviser, and the range of fees and average fee the Sub-Adviser assessed for such services to other clients. Such other clients include municipal separately managed accounts and passively managed exchange traded funds (ETFs) sub-advised by the Adviser. In evaluating the comparisons of fees, the Independent Board Members noted that the fee rates charged to the Funds and other clients vary, among other things, because of the different services involved and the additional regulatory and compliance requirements associated with registered investment companies, such as the Funds. Accordingly, the Independent Board Members considered the differences in the product types, including, but not limited to, the services provided, the structure and operations, product distribution and costs thereof, portfolio investment policies, investor profiles, account sizes and regulatory requirements. The Independent Board Members noted, in particular, that the range of services provided to the Funds (as discussed above) is much more extensive than that provided to separately managed accounts. Many of the additional administrative services provided by the Adviser are not required for institutional</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">clients. Given the inherent differences in the various products, particularly the extensive services provided to the Funds, the Independent Board Members believe such facts justify the different levels of fees.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In conjunction with their review of fees, the Independent Board Members also considered the profitability of Nuveen for its advisory activities and its financial condition. The Independent Board Members reviewed the revenues and expenses of Nuveen&#8217;s advisory activities for the last two calendar years, the allocation methodology used in preparing the profitability data and an analysis of the key drivers behind the changes in revenues and expenses that impacted profitability in 2012. The Independent Board Members noted this information supplemented the profitability information requested and received during the year to help keep them apprised of developments affecting profitability (such as changes in fee waivers and expense reimbursement commitments). In this regard, the Independent Board Members noted that they have an Independent Board Member serve as a point person to review and keep them apprised of changes to the profitability analysis and/or methodologies during the year. The Independent Board Members also considered Nuveen&#8217;s revenues for advisory activities, expenses, and profit margin compared to that of various unaffiliated management firms with comparable assets under management (based on asset size and asset composition).</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In reviewing profitability, the Independent Board Members recognized the Adviser&#8217;s continued investment in its business to enhance its services, including capital improvements to investment technology, updated compliance systems, and additional personnel. In addition, in evaluating profitability, the Independent Board Members also recognized the subjective nature of determining profitability which may be affected by numerous factors including the allocation of expenses and that various allocation methodologies may each be reasonable but yield different results. Further, the Independent Board Members recognized the difficulties in making comparisons as the profitability of other advisers generally is not publicly available and the profitability information that is available for certain advisers or management firms may not be representative of the industry and may be affected by, among other things, the adviser&#8217;s particular business mix, capital costs, types of funds managed and expense allocations. Notwithstanding the foregoing, the Independent Board Members reviewed Nuveen&#8217;s methodology and assumptions for allocating expenses across product lines to determine profitability. Based on their review, the Independent Board Members concluded that the Adviser&#8217;s level of profitability for its advisory activities was reasonable in light of the services provided.</font></font></div>

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<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">With respect to sub-advisers affiliated with Nuveen, including the Sub-Adviser, the Independent Board Members reviewed the sub-adviser&#8217;s revenues, expenses and profitability margins (pre- and post-tax) for its advisory activities and the methodology used for allocating expenses among the internal sub-advisers. Based on their review, the Independent Board Members were satisfied that the Sub-Adviser&#8217;s level of profitability was reasonable in light of the services provided.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 18pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In evaluating the reasonableness of the compensation, the Independent Board Members also considered other amounts paid to a Fund Adviser by the Funds as well as indirect benefits (such as soft dollar arrangements), if any, the Fund Adviser and its affiliates receive, or are expected to receive, that are directly attributable to the management of the Funds. See Section E below for additional information on indirect benefits a Fund Adviser may receive as a result of its relationship with the Funds. Based on their review of the overall fee arrangements of each Fund, the Independent Board Members determined that the advisory fees and expenses of the respective Fund were reasonable.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">With respect to economies of scale, the Independent Board Members have recognized the potential benefits resulting from the costs of a fund being spread over a larger asset base, although economies of scale are difficult to measure and predict with precision, particularly on a fund-by-fund basis. One method to help ensure the shareholders share in these benefits is to include breakpoints in the advisory fee schedule. Generally, management fees for funds in the Nuveen complex are comprised of a fund-level component and a complex-level component, subject to certain exceptions. Accordingly, the Independent Board Members reviewed and considered the applicable fund-level breakpoints in the advisory fee schedules that reduce advisory fees as asset levels increase. Further, the Independent Board Members noted that although closed-end funds may from time-to-time make additional share offerings, the growth of their assets will occur primarily through the appreciation of such funds&#8217; investment portfolio.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In addition to fund-level advisory fee breakpoints, the Board also considered the Funds&#8217; complex-wide fee arrangement. Pursuant to the complex-wide fee arrangement, the fees of the funds in the Nuveen complex are generally reduced as the assets in the fund complex reach certain levels. The complex-wide fee arrangement seeks to provide the benefits of economies of scale to fund shareholders when total fund complex assets increase, even if assets of a particular fund are unchanged or have decreased. The approach reflects the notion that some of Nuveen&#8217;s costs are attributable to services provided to all its funds in the complex and therefore all funds benefit if these costs are spread over a larger asset base. In addition, with the acquisition of the funds previously advised by FAF Advisors, Inc. at the end of 2010, the Board noted that a portion of such funds&#8217; assets at the time of acquisition were deemed eligible to be included in the complex-wide fee calculation in order to deliver fee savings to shareholders in the combined complex and such funds were subject to differing complex-level fee rates.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Based on their review, the Independent Board Members concluded that the breakpoint schedules and complex-wide fee arrangement were acceptable and reflect economies of scale to be shared with shareholders when assets under management increase.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">E. Indirect Benefits</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In evaluating fees, the Independent Board Members received and considered information regarding potential &#8220;fall out&#8221; or ancillary benefits the respective Fund Adviser or its affiliates may receive as a result of its relationship with each Fund. In this regard, the Independent Board Members considered any revenues received by affiliates of the Adviser for serving as co-manager in initial public offerings of new closed-end funds as well as revenues received in connection with secondary offerings.</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">In addition to the above, the Independent Board Members considered whether the Fund Advisers received any benefits from soft dollar arrangements whereby a portion of the commissions paid by a Fund for brokerage may be used to acquire research that may be useful to the Fund Adviser in managing the assets of the Funds and other clients. The Funds&#8217; portfolio transactions are determined by the Sub-Adviser. Accordingly, the Independent Board Members considered that the Sub-Adviser may benefit from its soft dollar arrangements pursuant to which it receives research from brokers that execute the Funds&#8217; portfolio transactions. With respect to fixed income securities, however, the Board recognized that such securities generally trade on a principal basis that does not generate soft dollar credits. Nevertheless, the Sub-Adviser may engage in soft dollar arrangements on behalf of other clients, and the Funds as well as the Sub-Adviser may benefit from the research or other services received. Similarly, the Board recognized that the research received pursuant to soft dollar arrangements by the Sub-Adviser may also benefit a Fund and shareholders</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">to the extent the research enhances the ability of the Sub-Adviser to manage the Fund. The Independent Board Members noted that the Sub-Adviser&#8217;s profitability may be somewhat lower if it did not receive the research services pursuant to the soft dollar arrangements and had to acquire such services directly.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Based on their review, the Independent Board Members concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable and within acceptable parameters.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">F. Other Considerations</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The Independent Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members, including the Independent Board Members, unanimously concluded that the terms of each Advisory Agreement are fair and reasonable, that the respective Fund Adviser&#8217;s fees are reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Nuveen Closed-End Fund allows you to conveniently reinvest distributions in additional Fund shares. By choosing to reinvest, you'll be able to invest money regularly and automatically, and watch your investment grow through the power of compounding. Just like distributions in cash, there may be times when income or capital gains taxes may be payable on distributions that are reinvested. It is important to note that an automatic reinvestment plan does not ensure a profit, nor does it protect you against loss in a declining market.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">To make recordkeeping easy and convenient, each month you'll receive a statement showing your total distributions, the date of investment, the shares acquired and the price per share, and the total number of shares you own.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">How shares are purchased</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">The shares you acquire by reinvesting will either be purchased on the open market or newly issued by the Fund. If the shares are trading at or above net asset value at the time of valuation, the Fund will issue new shares at the greater of the net asset value or 95% of the then-current market price. If the shares are trading at less than net asset value, shares for your account will be purchased on the open market. If the Plan Agent begins purchasing Fund shares on the open market while shares are trading below net asset value, but the Fund's shares subsequently trade at or above their net asset value before the Plan Agent is able to complete its purchases, the Plan Agent may cease open-market purchases and may invest the uninvested portion of the distribution in newly-issued Fund shares at a price equal to the greater of the shares&#8217; net asset value or 95% of the shares' market value on the last business day immediately prior to the purchase date. Distributions received to purchase shares in the open market will normally be invested shortly after the distribution payment date. No interest will be paid on distributions awaiting reinvestment. Because the market price of the shares may increase before purchases are completed, the average purchase price per share may exceed the market price at the time of valuation, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund. A pro rata portion of any applicable brokerage commissions on open market purchases will be paid by Plan participants. These commissions usually will be lower than those charged on individual transactions.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Flexible</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">You may change your distribution option or withdraw from the Plan at any time, should your needs or situation change. You can reinvest whether your shares are registered in your name, or in the name of a brokerage firm, bank, or other nominee. Ask your investment advisor if his or her firm will participate on your behalf. Participants whose shares are registered in the name of one firm may not be able to transfer the shares to another firm and continue to participate in the Plan. The Fund reserves the right to amend or terminate the Plan at any time. Although the Fund reserves the right to amend the Plan to include a service charge payable by the participants, there is no direct service charge to participants in the Plan at this time.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Call today to start reinvesting distributions</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">For more information on the Nuveen Automatic Reinvestment Plan or to enroll in or withdraw from the Plan, speak with your financial advisor or call us at (800) 257-8787.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Auction Rate Bond: </font>An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have &#8220;failed,&#8221; with current holders receiving a formula-based interest rate until the next scheduled auction.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Average Annual Total Return: </font>This is a commonly used method to express an investment&#8217;s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment&#8217;s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Duration: </font>Duration is a measure of the expected period over which a bond&#8217;s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond&#8217;s or bond fund&#8217;s value to changes when market interest rates change. Generally, the longer a bond&#8217;s or fund&#8217;s duration, the more the price of the bond or fund will change as interest rates change.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Effective Leverage: </font>Effective leverage is a fund&#8217;s effective economic leverage, and includes both regulatory leverage (see leverage) and the leverage effects of certain derivative investments in the fund&#8217;s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Gross Domestic Product (GDP): </font>The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Inverse Floating Rate Securities: </font>Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond&#8217;s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an &#8220;inverse floater&#8221;) to an investor (such as a fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates&#8217; holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond&#8217;s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond&#8217;s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Lipper California Municipal Debt Funds Classification Average: </font>Calculated using the returns of all closed-end funds in this category. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Pre-Refunding: </font>Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond&#8217;s credit rating and thus its value.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Regulatory Leverage: </font>Regulatory leverage consists of preferred shares issued by or borrowings of a fund. Both of these are part of a fund&#8217;s capital structure. Regulatory leverage is subject to asset coverage limits set in the Investment Company Act of 1940.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Total Investment Exposure: </font>Total investment exposure is a fund&#8217;s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund&#8217;s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust&#8217;s issuance of floating rate securities.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">William Adams IV*</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Nuveen Fund Advisors, LLC</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chapman and Cutler LLP</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline">Shareholder Services</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">333 West Wacker Drive</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">&amp; Trust Company</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">Chicago, IL 60603</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: arial; DISPLAY: inline">(800) 257-8787</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Quarterly Form N-Q Portfolio of Investments Information</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. You may obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov or in person at the SEC&#8217;s Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC -0330 for room hours and operation.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Nuveen Funds&#8217; Proxy Voting Information</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">CEO Certification Disclosure</font></font></div>

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<td width="87%"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Serving Investors for Generations</font></font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Since 1898, financial advisors and their clients have relied on Nuveen Investments to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality equity and fixed-income solutions designed to be integral components of a well-diversified core portfolio.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; DISPLAY: inline">Focused on meeting investor needs.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates&#8212;Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management and Gresham Investment Management. In total, Nuveen Investments managed $216 billion as of June 30, 2013.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; DISPLAY: inline">To learn more about how the products and services of Nuveen Investments may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen Investments, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money.</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board implemented after the registrant last provided disclosure in response to this Item.</font></div>

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<div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")(17 CFR 240.13a-15(b) or 240.15d-15(b)).</font></div>
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<div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">File the exhibits listed below as part of this Form.</font></div>

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<div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See Ex-99.CERT attached hereto.</font></div>
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<div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the&#160;&#160;report by or on behalf of the registrant to 10 or more persons: Not applicable.</font></div>
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<div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: See Ex-99.906 CERT attached hereto.</font></div>
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<div style="TEXT-ALIGN: center; DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">SIGNATURES</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(Registrant) <font style="TEXT-DECORATION: underline; DISPLAY: inline">Nuveen California AMT-Free Municipal Income Fund</font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Kevin J. McCarthy</font></font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Kevin J. McCarthy</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">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>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Gifford R. Zimmerman</font></font></div>

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

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">November&#160;8, 2013</font></font></font></div>

<br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Stephen D. Foy</font></font></div>

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

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Vice President and Controller</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160;(principal financial officer)</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">November&#160;8, 2013</font></font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION</font></div>

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

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<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form N-CSR of Nuveen California AMT-Free Municipal Income Fund;</font></div>
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<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
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<tr valign="top">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;</font></div>
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<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">5.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date:&#160;November 8, 2013</font></div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Gifford R. Zimmerman</font></font></div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Chief Administrative Officer</font></div>

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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION</font></div>

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

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

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<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form N-CSR of Nuveen California AMT-Free Municipal Income Fund;</font></div>
</td>
</tr></table>
</div>

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

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
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<tr valign="top">
<td align="right" style="WIDTH: 36pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</font></div>
</td>
</tr></table>
</div>

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

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 36pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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>
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</div>

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

<div>
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<tr valign="top">
<td align="right" style="WIDTH: 54pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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 style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 54pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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 style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 54pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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 style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 54pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">5.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date:&#160;November 8, 2013</font></div>

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