<SEC-DOCUMENT>0000891804-16-001510.txt : 20160707
<SEC-HEADER>0000891804-16-001510.hdr.sgml : 20160707
<ACCEPTANCE-DATETIME>20160707145708
ACCESSION NUMBER:		0000891804-16-001510
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20160430
FILED AS OF DATE:		20160707
DATE AS OF CHANGE:		20160707
EFFECTIVENESS DATE:		20160707

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN PENNSYLVANIA INVESTMENT QUALITY MUNICIPAL FUND
		CENTRAL INDEX KEY:			0000870780
		IRS NUMBER:				363743025
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06265
		FILM NUMBER:		161756349

	BUSINESS ADDRESS:	
		STREET 1:		333 W WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178200

	MAIL ADDRESS:	
		STREET 1:		333 W WACKER
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN PENNSYLVANIA INVESTMENT QUALITY MUNICIPAL FUND INC
		DATE OF NAME CHANGE:	19920803
</SEC-HEADER>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Investment Company Act file number <font style="TEXT-DECORATION: underline">811-06265</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Pennsylvania Investment Quality Municipal Fund</div>

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

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

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

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

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

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

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

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

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Registrant&#8217;s telephone number, including area code: <font style="TEXT-DECORATION: underline; DISPLAY: inline">(312) 917-7700</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date of fiscal year end:&#160;<font style="TEXT-DECORATION: underline">April 30</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date of reporting period: <font style="TEXT-DECORATION: underline; DISPLAY: inline">April 30,&#160;2016</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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 (&#8220;OMB&#8221;) 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.</div>

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

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Life is Complex</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen makes things e-simple.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">It only takes a minute to sign up for e-Reports. Once enrolled, you'll receive an e-mail as soon as your Nuveen 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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Free e-Reports right to your e-mail!</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">www.investordelivery.com</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">If you receive your Nuveen Fund dividends and statements from your financial advisor or brokerage account.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">or</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">www.nuveen.com/accountaccess</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">If you receive your Nuveen Fund dividends and statements directly from Nuveen.</font></div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Table of Contents</div>

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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Chairman's Letter to Shareholders</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Portfolio Manager's Comments</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Fund Leverage</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.34%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common Share Information</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.34%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Risk Considerations</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.34%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Performance Overview and Holding Summaries</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Report of Independent Registered Public Accounting Firm</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Shareholder Meeting Report</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Portfolios of Investments</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Statement of Assets and Liabilities</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">54</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Statement of Operations</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Statement of Changes in Net Assets</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">56</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Statement of Cash Flows</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">58</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Financial Highlights</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Reinvest Automatically, Easily and Conveniently</div>
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Chairman's Letter to Shareholders</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Dear Shareholders,</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The U.S. economy is now seven years into the recovery, but its pace remains stubbornly subpar compared to past recoveries. Economic data continues to be a mixed bag, as it has been throughout this expansion period. While the unemployment rate fell below its pre-recession level, a surprisingly weak jobs growth report in May was a disappointing sign, although not necessarily indicative of a lasting downtrend. Wages have grown slightly but not nearly enough to reinvigorate Americans' buying power. The housing market has improved markedly but its contribution to the recovery has been lackluster. Deflationary pressures, including the dramatic slide in commodity prices, have kept inflation much lower for longer than many expected.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Furthermore, frail economies across the rest of the world have continued to cast a shadow over the U.S. Although the European Central Bank and Bank of Japan have been providing aggressive monetary stimulus, including adopting negative interest rates in both Europe and Japan, their economies continue to lag the U.S.'s recovery. China's policy makers have also continued to manage its slowdown but investors are still worried about where the world's second-largest economy might ultimately land. Additionally, global markets were surprised by the U.K.'s June 23, 2016 referendum vote to leave the European Union, known as "Brexit." Heightened price volatility and negative sentiment are to be expected in the near term as markets readjust and await clarity on the Brexit process and its impact on the U.K., Europe and across the world.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Many of these ambiguities &#8211; both domestic and international &#8211; have kept the U.S. Federal Reserve (Fed) from raising short-term interest rates any further since December's first and only increase thus far. While markets rallied on the widely held expectation that the Fed would defer any increases until June, the unusually weak May jobs report and the Brexit concerns compelled the Fed to again hold rates steady.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">With global economic growth still looking fairly fragile, financial markets have become more volatile over the past year. Although sentiment has improved and conditions have generally recovered from the intense volatility seen in early 2016, we expect that turbulence remains on the horizon for the time being. In this environment, Nuveen remains committed to both managing downside risks and seeking upside potential. If you're concerned about how resilient your investment portfolio might be, we encourage you to talk to your financial advisor.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Sincerely,</div>

<div style="FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><img src="sign.jpg"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-FAMILY: Arial">William J. Schneider</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chairman of the Board</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">June 24, 2016</font></div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Portfolio Manager's Comments</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-FAMILY: Arial">Nuveen New Jersey Dividend Advantage Municipal Fund (NXJ)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Nuveen New Jersey Municipal Value Fund (NJV)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
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</font><font style="FONT-FAMILY: Arial">Nuveen Pennsylvania Municipal Value Fund (NPN)</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 8pt">These Funds feature portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen Investments, Inc. Portfolio manager Paul L. Brennan, CFA, reviews U.S. economic and municipal market conditions, key investment strategies and the twelve-month performance of the Nuveen New Jersey and Pennsylvania Funds. Paul assumed portfolio management responsibility for these four Funds in 2011.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">What factors affected the U.S. economy and the national municipal market during the twelve-month reporting period ended April 30, 2016?</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Over the twelve-month reporting period, U.S. economic data continued to point to subdued growth, rising employment and tame inflation. Economic activity has continued to hover around a 2% annualized growth rate since the end of the Great Recession in 2009, as measured by real gross domestic product (GDP), which is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production, adjusted for price changes. For the first quarter of 2016, real GDP increased at an annual rate of 0.8%, as reported by the "second" estimate of the Bureau of Economic Analysis, down from 1.4% in the fourth quarter of 2015.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The labor and housing markets were among the bright spots in the economy during the reporting period, as both showed steady improvement. As reported by the Bureau of Labor Statistics, the unemployment rate fell to 5.0% in April 2016 from 5.4% in April 2015, and job gains averaged slightly above 200,000 per month for the past twelve months. The S&amp;P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, recorded a 5.2% annual gain in March 2016 (most recent data available at the time this report was prepared). The 10-City and 20-City Composites reported year-over-year increases of 4.7% and 5.4%, respectively.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Consumers, whose purchases comprise the largest component of the U.S. economy, benefited from lower gasoline prices and an improving jobs market. Pessimism about the economy's future and lackluster wage growth likely contributed to consumers' some-what muted spending. Lower energy prices and tepid wage growth also weighed on inflation during this reporting period. The Consumer Price Index CPI rose 1.1% over the twelve-month period ended April 2016 on a seasonally adjusted basis, as reported by the U.S. Bureau of Labor Statistics. The core CPI (which excludes food and energy) increased 2.1% during the same period, slightly above the Fed's unofficial longer term inflation objective of 2.0%.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Business investment was also rather restrained. Corporate earnings growth slowed during 2015, reflecting an array of factors ranging from weakening demand amid sluggish U.S. and global growth to the impact of falling commodity prices and a strong U.S. dollar. Energy, materials and industrials companies were hit particularly hard by the downturn in natural resource prices, as<br>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio manager as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor's (S&amp;P), Moody's Investors Service, Inc., (Moody's) or Fitch, Inc. (Fitch). 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.</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers' ability to meet their commitments.</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Manager's Comments </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">well as the expectation of rising interest rates, which would make their debts more costly to service. With demand waning, companies, especially in the health care and technology sectors, looked to consolidations with rivals as a way to boost revenues. Merger and acquisition deals, both in the U.S. and globally, reached record levels in the calendar year 2015.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">With the current expansion on solid footing, the U.S. Federal Reserve (Fed) prepared to raise one of its main interest rates, which had been held near zero since December 2008 to help stimulate the economy. After delaying the rate change for most of 2015 because of a weak global economic growth outlook, the Fed announced in December 2015 that it would raise the fed funds target rate by 0.25%. The news was widely expected and therefore had a relatively muted impact on the financial markets.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Although the Fed continued to emphasize future rate increases would be gradual, investors worried about the pace. This, along with uncertainties about the global macroeconomic backdrop, another downdraft in oil prices and a spike in stock market volatility triggered significant losses across assets that carry more risk and fueled demand for "safe haven" assets such as Treasury bonds and gold from January through mid-February. However, fear began to subside in March, propelling assets that carry more risk higher. The Fed held the rate steady at both the January and March policy meetings, as well as lowered its expectations to two rate increases in 2016 from four. Also boosting investor confidence were reassuring statements from the European Central Bank, some positive economic data in the U.S. and abroad, a retreat in the U.S. dollar and an oil price rally.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The broad municipal bond market performed well in the twelve-month reporting period, supported by falling interest rates, a favorable supply-demand balance and generally improving credit fundamentals. Early in the reporting period, interest rates rose on the expectation that the Fed would begin to raise short-term interest rates in the latter half of 2015. However, with the Fed's first increase delayed until December and its indication of a more gradual path of increases in 2016, interest rates trended lower over the remainder of the period. Municipal market yields moved in tandem with broader interest rates, ending the reporting period below where they started. However, while the yields on intermediate- and longer-dated bonds posted sizeable declines, the yields of short-dated bonds increased slightly over the reporting period. This caused the municipal yield curve to flatten over the reporting period.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The municipal market's supply-demand balance was generally favorable over this reporting period. Over the twelve months ended April 30, 2016, municipal bond gross issuance nationwide totaled $379.4 billion, a 4.5% drop from the issuance for the twelve-month period ended April 30, 2015. Gross issuance remains elevated as issuers continue to actively and aggressively refund their outstanding debt given the very low interest rate environment. In these transactions the issuers are issuing new bonds and taking the bond proceeds and redeeming (calling) old bonds. These refunding transactions have ranged from 40%-60% of total issuance over the past few years. Thus, the net issuance (all bonds issued less bonds redeemed) is actually much lower than the gross issuance. In fact, the total municipal bonds outstanding has actually declined in each of the past four calendar years. So, the gap between gross and net issuance has been an overall positive technical factor on municipal bond investment performance.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">While supply has tightened, investor demand for municipal bonds has risen. Municipal bond mutual funds reported net inflows in 2015, and the inflows for the first four months of 2016 had already exceeded 2015's total volume for the year. The bouts of height-ened volatility across other assets that carry more risk, uncertainty about the Fed's rate increases and the low to negative yields of European and Asian bonds have bolstered the appeal of municipal bonds' risk-adjusted returns and tax-equivalent yields. The municipal bond market is less directly influenced by the Fed's rate adjustments and its demand base is largely comprised of U.S. investors, factors which have helped municipal bonds deliver relatively attractive returns with less volatility than other market segments.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The fundamental backdrop also remained supportive for municipal bonds. Despite the U.S. economy's rather sluggish recovery, improving state and local balance sheets have contributed to generally good credit fundamentals. Higher tax revenue growth, better expense management and a more cautious approach to new debt issuance have led to credit upgrades and stable credit outlooks for many state and local issuers. While some pockets of weakness continued to grab headlines, including Illinois, New Jersey and Puerto Rico, their problems were largely contained, with minimal spillover into the broader municipal market.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">How were the economic and market environments in New Jersey and Pennsylvania during the twelve-month reporting period ended April 30, 2016?</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">New Jersey's economic growth has finally started to get some momentum, with job growth and payroll numbers beginning to pick up at the end of 2015. While the financial sector continues to lag, other sectors such as construction, health care and hospitality have all added jobs. The state has several characteristics that position it to do quite well, such as its proximity to New York City's extensive job market, a shoreline along the Atlantic coast that benefits a strong tourism industry and two large transportation hubs in the Port of New York and Newark and Newark airport. However, for years following the recession the state's recovery fell short of many of its peers. New Jersey had the slowest job growth rate in the northeast until the middle of 2015. As of April 2016, the state's unemployment rate registered 4.7%. The sluggishness of the state's recovery exacerbated fiscal pressures caused by growing pension, retirement health care and debt service payments. In the proposed Fiscal Year 2017 budget, expenditures on these three line items constitutes 23% of revenues. The $1.9 billion pension payment in the Fiscal Year 2017 budget proposed by Governor Christie funds only 40% of the actuarially recommended contribution. The budget also fails to appropriate a significant amount of new money for transportation capital projects and instead, all revenues generated by the state's gas tax will go to pay debt service. Maintaining and upgrading infrastructure is key to economic growth and the state has put itself at a disadvantage by overleveraging these revenues. The state has been downgraded several times in recent years and now carries an A rating with negative outlook by S&amp;P, an A2 with negative outlook by Moody's and an A with stable outlook by Fitch. For the twelve months ending April 2016, the state issued $10.0 billion in tax-exempt debt, a year-over-year decrease of 5.6%.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Pennsylvania is facing a myriad of challenges. The commonwealth's economy continues to grow at a slow pace. Employment growth has trended below the national average, with the year-over-year change in total non-farm employment at 0.9% in the commonwealth compared to 1.9% for the U.S., as of April 2016. Yet Pennsylvania's unemployment rate of 5.3% in April 2016 was above that of the nation at 5.0%. Mining, manufacturing and the government employment sector are acting as a drag on growth, reflecting the low price of natural gas, the strong dollar and the uncertainty due to a state budget that was passed nine months late. By contrast, the leisure and hospitality sector, as well as other services industries, has outpaced overall employment growth in the state. Education and health services, which are among the more stable industries, remain the commonwealth's largest employment sector. On the fiscal front, Pennsylvania faces increasing pressure from a structurally unbalanced budget and the need for pension reform to address growing debt levels following years of underfunding and market-driven investment declines. Pennsylvania faced a $2 billion budget deficit in 2015, which it balanced with one-time items such as payment deferrals and a transfer of tobacco settlement proceeds. The 2016 budget finally passed nine months after the start of the fiscal year but failed to improve fiscal balance or address the state's growing pension obligations, thereby pushing difficult financial decisions to the fiscal 2017 budget. Currently, Pennsylvania's unfunded pension liability is estimated at $53 billion, split between the State Employees Retirement System and the Public School Employees Retirement System. As of April 2016, Pennsylvania's GO debt was rated Aa3 by Moody's and AA- by S&amp;P and Fitch. The outlook is negative from both Moody's and Standard &amp; Poor's. For the twelve months ended April 2016, $13.8 billion in new municipal bonds were issued in the commonwealth, a decrease of 18.2% from the previous twelve months.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">What key strategies were used to manage these Funds during the twelve-month reporting period ended April 30, 2016?</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The broad municipal market performed well over this reporting period. Despite New Jersey's credit woes, the New Jersey municipal market slightly outperformed the broad market during this reporting period, while Pennsylvania's municipal market performed broadly in line with the national market. Our trading activity continued to focus on pursuing the Fund's investment objectives. We continued to seek bonds in areas of the market that we expected to perform well as the economy continued to improve. The Fund's positioning emphasized intermediate and longer maturities, lower rated credits and sectors offering higher yields. To fund these purchases, we generally reinvested the proceeds from called and maturing bonds. In some cases, we sold bonds that we believed had deteriorating fundamentals or could be traded for a better relative value, as well as selling short-dated, higher quality issues that we tend to hold over short timeframes as a source of liquidity.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Manager's Comments </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">We have also continued to be more cautious in selecting individual securities. As investor demand for municipal securities has increased and created a slight supply-demand imbalance, we've started to see underwriters bring new issues to market that are structured with terms more favorable to the issuer and perhaps less advantageous to the investor than in the recent past. We believe this shift in the marketplace merits extra vigilance on our part to ensure that every credit considered for the portfolio offers adequate reward potential for the level of risk to the bondholder.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The four Funds' overall positioning remained stable during the reporting period. We continued to overweight lower rated bonds and maintain longer durations than the market. With both states facing ongoing fiscal challenges, we continued to limit exposure to state-supported obligations in all four Funds. We added to the NJV and NJX's holdings in New Jersey State Turnpike Authority bonds and increased NQP and NPN's exposures to Pennsylvania State Turnpike Commission credits. The New Jersey Turnpike Authority and Pennsylvania State Turnpike Commission are among the largest and most active issuers in their respective states. Their revenues are generated from toll collections, which have continued to benefit from increasing traffic flow. We also emphasized opportunities at the local (county and city/township) level, where many higher rated borrowers were issuing debt that we found attractive. For example, in the Pennsylvania Funds we bought several local school district bonds from issuers throughout the state. Although the higher ratings of these local bonds offered lower yields, we believed the trade-off was worthwhile given the states' deteriorating credit outlooks, the relative underperformance of state-supported bonds and our goal to keep the Funds fully invested. For those opportunities that did have a state-backed component, we tried to mitigate that exposure where possible. For example, we bought some credits issued for New Jersey public colleges that not only receive support from the state but also charge tuition, providing a more diverse revenue stream and the ability to raise tuition prices if needed.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The New Jersey Funds also bought higher education student loan and health care revenue bonds. We should also note that the New Jersey Funds have no exposure to the debt of Atlantic City, which has been mired in financial crisis since the city's casino industry collapsed in the wake of Hurricane Sandy in 2012.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">In addition to the tollroad and local school bond purchases detailed earlier, the Pennsylvania Funds invested in selected opportunities from a diverse group of sectors: housing bonds issued by the Pennsylvania Housing Finance Agency, hospital credits issued by Albert Einstein Medical Center in suburban Philadelphia, a utility bond issued by sustainable energy producer Covanta and a water bond issued by privately owned water service provider Aqua Pennsylvania.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Selling activity was muted in this reporting period, with cash for new purchases generated mainly from maturing and called bonds. We did sell some higher quality, shorter maturity credits when opportunities arose to replace them with bonds with better relative value and more attractive long-term prospects.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, all 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. As part of our duration management strategies, NXJ also invested in forward interest rate swap contracts to help reduce price volatility risk to movements in U.S. interest rates relative to the Fund's benchmark. These swaps had a negative impact on performance during this reporting period.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">How did the Funds perform during the twelve-month reporting period ended April 30, 2016?</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The tables in each Fund's Performance Overview and Holding Summaries section of this report provide the Funds' total returns for the one-year, five-year, ten-year and since inception periods ended April 30, 2016. Each Fund's total returns at common share net asset value (NAV) are compared with the performance of corresponding market indexes and Lipper classification averages.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">For the twelve months ended April 30, 2016, the total returns at common share NAV for NXJ and NQP exceeded the returns for their respective state's S&amp;P Municipal Bond Index as well as the national S&amp;P Municipal Bond Index, while NJV and NPN lagged their respective state's index and the national index. For the same period, NXJ outperformed the average return for the Lipper New Jersey Municipal Debt Funds Classification Average and NJV trailed this average, while NQP outperformed the Lipper Pennsylvania Municipal Debt Funds Classification Average and NPN underperformed this Lipper average.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Duration and yield curve positioning were among the main positive contributors to performance for the four Funds during this reporting period. Consistent with our long term strategy, these Funds tended to have longer durations than their respective states' municipal markets, with overweightings in the longer parts of the yield curve that performed well and underweightings in the underperforming shorter end of the curve.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Credit ratings allocations also boosted performance for the four Funds during this reporting period. The returns of lower quality bonds generally outpaced those of higher quality credits due to investor demand for higher yielding assets and a backdrop of improving credit fundamentals within certain states. The Funds' overweight allocations to the lower quality categories and underweight allocations to AAA and AA rated credits were advantageous to performance.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">In addition, the use of regulatory leverage was an important positive factor affecting the performance of NXJ and NQP. One of the reasons that NJV and NPN trailed the other corresponding state Funds in this report for the twelve-month reporting period was that these two Funds do not use regulatory leverage. Leverage is discussed in more detail later in the Fund Leverage section of this report.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Although we have continued to minimize the Funds' exposures to state-backed debt to the extent possible (and more so in the New Jersey Funds than in the Pennsylvania Funds), the Funds' state general obligations bonds (GOs) were detractors from performance in this reporting period. New Jersey state GOs underperformed as the market continued to penalize these bonds for credit downgrades by all three major rating agencies. Relative to the state benchmark index, the New Jersey Funds have underweight exposure to the State of New Jersey, which was generally advantageous to relative performance. However, on absolute terms, gains in NXJ and NJV were tempered by the lagging performance of the broader New Jersey municipal market.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Pennsylvania faces some of the same budgetary and pension issues as New Jersey although to a lesser degree. Amid the nine-month budget stalemate, negative outlooks from the major credit rating agencies contributed to the underperformance of Pennsylvania State GOs. The Pennsylvania Funds have less exposure to their state GOs than the New Jersey Funds have to New Jersey GOs, as Pennsylvania's municipal bond market offers a broader range of non-GO opportunities than New Jersey's market. The poorest performing market segment for the reporting period was pre-refunded bonds, which are often backed by U.S. Treasury securities. The underperformance of these bonds relative to the market can be attributed primarily to their shorter effective maturities and higher credit quality. All of these Funds had allocations of pre-refunded bonds, with the two Pennsylvania Funds having the heaviest weightings.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">An Update Involving Puerto Rico</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As noted in the Funds' previous shareholder reports, we continue to monitor situations in the broader municipal market for any impact on the Funds' holdings and performance: the ongoing economic problems of Puerto Rico is one such case. Puerto Rico's continued economic weakening, escalating debt service obligations, and long-standing inability to deliver a balanced budget led to multiple downgrades on its debt over the past two years. Puerto Rico has warned investors since 2014 that the island's debt burden may be unsustainable and the Commonwealth has been exploring various strategies to deal with this burden, including Chapter 9 bankruptcy, which is currently not available by law. Subsequent to the close of the reporting period, Puerto Rico's effort to restructure its public utility debt was struck down by the U.S. Supreme Court. All Puerto Rico debt restructuring efforts are now concentrated in Congress.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">In terms of Puerto Rico holdings, shareholders should note that, as of the end of this reporting period, NXJ and NQP had limited exposure which was either insured or investment grade to Puerto Rico debt, 0.62% and 0.68%, respectively, while NJV and NPN did not hold any Puerto Rico bonds. The Puerto Rico credits offered higher yields, added diversification and triple exemption (i.e., exemption from most federal, state and local taxes). Puerto Rico general obligation debt is currently rated Caa2/CC/CC (below investment grade) by Moody's, S&amp;P and Fitch, respectively, with negative outlooks.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Manager's Comments </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">A Note About Investment Valuations</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The municipal securities held by the Funds are valued by the Funds' pricing service using a range of market-based inputs and assumptions. A different municipal pricing service might incorporate different assumptions and inputs into its valuation methodology, potentially resulting in different values for the same securities. These differences could be significant, both as to such individual securities, and as to the value of a given Fund's portfolio in its entirety. Thus, the current net asset value of a Fund's shares may be impacted, higher or lower, if the Fund were to change pricing service, or if its pricing service were to materially change its valuation methodology. The Funds have received notification by their current municipal bond pricing service that such service has agreed to be acquired by the parent company of another pricing service, and that the transaction is under regulatory review. Thus there is an increased risk that each Fund's pricing service may change, or that the Funds' current pricing service may change its valuation methodology, either of which could have an impact on the net asset value of each Fund's shares.</div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Fund Leverage</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">IMPACT OF THE FUNDS' LEVERAGE STRATEGY ON PERFORMANCE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">One important factor impacting the returns of the Funds relative to their comparative benchmarks was the Funds' use of leverage through their issuance of preferred shares and/or investments in inverse floating rate securities, which represent leveraged investments in underlying bonds. NJV and NPN do not use regulatory leverage. The Funds use leverage because our research has shown that, over time, leveraging provides opportunities for additional income, particularly in the recent market environment where short-term market rates are at or near historical lows, meaning that the short-term rates the Fund has been paying on its leveraging instruments have been much lower than the interest the Fund has been earning on its portfolio of long-term bonds that it has bought with the proceeds of that leverage. However, use of leverage also can expose the Fund to additional price volatility. When a Fund uses leverage, the Fund will experience a greater increase in its net asset value if the municipal bonds acquired through the use of leverage increase in value, but it will also experience a correspondingly larger decline in its net asset value if the bonds acquired through leverage decline in value, which will make the Fund's net asset value more volatile, and its total return performance more variable over time. In addition, income in levered funds will typically decrease in comparison to unlevered funds when short-term interest rates increase and increase when short-term interest rates decrease. Leverage made a positive contribution to the performance of these Funds over this reporting period.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, the Funds' percentages of leverage are as shown in the accompanying table.<br>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Effective Leverage*</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">37.60%</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.08%</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35.93%</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.61%</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Regulatory Leverage*</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31.30%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30.42%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 0px"><br>
</div>

<table id="34de2d7040254bd88f9a21a8cfb2e834" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5.18%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 94.82%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Effective Leverage is a Fund's effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund's portfolio that increase the Fund'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's capital structure. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="a33ef062768f490f8e5e2a2d8ef6f113" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">11</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund Leverage </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">THE FUNDS' REGULATORY LEVERAGE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, NXJ and NQP have issued and outstanding, Variable Rate MuniFund Term Preferred (VMTP) Shares and Variable Rate Demand Preferred (VRDP) Shares as shown in the accompanying table. As mentioned previously, NJV and NPN do not use regulatory leverage.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="dd4b5675a3e842f584dbd052bfcf7bdd" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 24.3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1.2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 11.84%" colspan="4"><strong>VMTP Shares</strong></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 2.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 11.84%" colspan="4"><strong>VRDP Shares</strong></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1.12%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24.3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.36%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.12%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24.3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Issued at</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.36%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Issued at</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.12%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24.3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Liquidation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.36%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Liquidation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.12%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24.3%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.36%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24.3%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.4%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.36%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">81,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24.3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.4%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.36%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">144,300,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24.3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.4%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.36%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">88,600,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 24.3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.4%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.36%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,900,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,900,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24.3%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.4%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.36%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24.3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.4%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.36%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">105,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 24.3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.4%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.36%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">217,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">265,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Refer to Notes to Financial Statements, Note &#8211; 4 Fund Shares, Preferred Shares for further details on VMTP and VRDP Shares and each Fund's respective transactions.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="06ef12998076447b95346b98bb0abea0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Common Share Information</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">COMMON SHARE DISTRIBUTION INFORMATION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The following information regarding the Funds' distributions is current as of April 30, 2016. Each Fund's distribution levels may vary over time based on each Fund's investment activity and portfolio investments value changes.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the current reporting period, each Fund's distributions to common shareholders were as shown in the accompanying table.<br>
<br>
</div>

<table id="4dc84aefbd9d415f808aa1a30e8b6164" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 50%" colspan="11">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Per Common Share Amounts</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monthly Distributions (Ex-Dividend Date)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">May 2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">June</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">July</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">August</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">September</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">October</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">November</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">December</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">January</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">February</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">March</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">April 2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Monthly Per Share Distributions</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8160</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.5890</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8205</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.6240</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ordinary Income Distribution*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0005</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0167</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0098</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0071</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Distributions from Net Investment Income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8165</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.6057</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8303</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.6311</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Distributions from Long-Term Capital Gains*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.0081</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.2089</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Distributions</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8246</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8146</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.8303</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.6311</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Yields</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Market Yield**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.57</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.88</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.79</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Taxable-Equivalent Yield**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.76</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.78</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 0px"><br>
</div>

<table id="4e5373ad6b5e4d90bf24d64a5d58d61c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.68%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.32%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distribution paid in December 2015.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.68%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.32%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Market Yield is based on the Fund's current annualized monthly dividend divided by the Fund'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 32.6% and 30.2% for New Jersey and Pennsylvania, respectively. When comparing a Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Each Fund in this report seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit each Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. If a Fund has cumulatively earned more than it has paid in dividends, it will hold the excess in reserve as undistributed net investment income (UNII) as part of the Fund's net asset value. Conversely, if a Fund has cumulatively paid in dividends more than it has earned, the excess will constitute a negative UNII that will likewise be reflected in the Fund's net asset value. Each Fund will, over time, pay all its net investment income as dividends to shareholders.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="2ebfdebadc654dd28f54fb5bc339dab8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">13</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Common Share Information </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, the Funds had positive UNII balances for tax purposes. NXJ, NJV and NPN had positive UNII balances while NQP had a negative UNII balance for financial reporting purposes.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">All monthly dividends paid by each Fund during the current reporting period were paid from net investment income. If a portion of the Fund's monthly distributions was sourced from or comprised of elements other than net investment income, including capital gains and/or a return of capital, shareholders would have received a notice to that effect. For financial reporting purposes, the composition and per share amounts of each Fund's dividends for the reporting period are presented in this report's Statement of Changes in Net Assets and Financial Highlights, respectively. For income tax purposes, distribution information for each Fund as of its most recent tax year end is presented in Note 6 &#8212; Income Tax Information within the Notes to Financial Statements of this report.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">COMMON SHARE REPURCHASES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During August 2015, the Funds' Board of Trustees reauthorized an open-market share repurchase program, allowing each Fund to repurchase an aggregate of up to approximately 10% of its outstanding shares.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, and since the inception of the Funds' repurchase programs, the Funds have cumulatively repurchased and retired their outstanding common shares as shown in the accompanying table.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 0px"><br>
</div>

<table id="54da9443fe76431bb798995db00a6b7e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 16px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 56%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common shares cumulatively repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">608,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">363,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 56%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common shares authorized for repurchase</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,285,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">155,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,780,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">120,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the current reporting period, the following Funds repurchased and retired their common shares at a weighted average price per common share and a weighted average discount per common share as shown in the accompanying table.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 0px">&#160;</div>

<table id="50ff5c915b554cc181855d14fb98d67e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 72.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 72.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common shares repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">473,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">121,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 72.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Weighted average price per common share repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12.86</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 72.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Weighted average discount per common share repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">OTHER COMMON SHARE INFORMATION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, and during the current reporting period, the Funds' common share prices were trading at a premium/(discount) to their common share NAVs as shown in the accompanying table.<br>
<br>
</div>

<table id="502f82e86e1247008e5612122a344ef8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common share NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common share price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Premium/(Discount) to NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(9.39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(7.11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(7.28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(0.30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">12-month average premium/(discount) to NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(14.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(10.57</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(13.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(6.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)%</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

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<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">14</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

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</div>
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Risk Considerations</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen New Jersey Dividend Advantage Municipal Fund (NXJ)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. Leverage increases return volatility and magnifies the Fund's potential return and its risks; there is no guarantee a fund's leverage strategy will be successful. State concentration makes the Fund more susceptible to local adverse economic, political, or regulatory changes affecting municipal bond issuers. These and other risk considerations such as inverse floater risk and tax risk are described in more detail on the Fund's web page at www.nuveen.com/NXJ.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen New Jersey Municipal Value Fund (NJV)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. State concentration makes the Fund more susceptible to local adverse economic, political, or regulatory changes affecting municipal bond issuers. These and other risk considerations such as tax risk are described in more detail on the Fund's web page at www.nuveen.com/NJV.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen Pennsylvania Investment Quality Municipal Fund (NQP)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. Leverage increases return volatility and magnifies the Fund's potential return and its risks; there is no guarantee a fund's leverage strategy will be successful. State concentration makes the Fund more susceptible to local adverse economic, political, or regulatory changes affecting municipal bond issuers. These and other risk considerations such as inverse floater risk and tax risk are described in more detail on the Fund's web page at www.nuveen.com/NQP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen Pennsylvania Municipal Value Fund (NPN)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. State concentration makes the Fund more susceptible to local adverse economic, political, or regulatory changes affecting municipal bond issuers. These and other risk considerations such as tax risk are described in more detail on the Fund's web page at www.nuveen.com/NPN.<br>
<br>
</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">15</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

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</div>
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<div style="FONT-FAMILY: Arial">&#160;</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Performance Overview and Holding Summaries as of April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Average Annual Total Returns as of April 30, 2016<br>
<br>
</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Average Annual</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">1-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">5-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.48%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">10-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NXJ at Common Share NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.85%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.87%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.48%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.30%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NXJ at Common Share Price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.79%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.86%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.48%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.47%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond New Jersey Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.14%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.91%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.48%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.93%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.16%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.56%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.48%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.87%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lipper New Jersey Municipal Debt Funds Classification Average</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.16%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.01%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.48%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.24%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index and Lipper return information is provided for the Fund's shares at NAV only. Indexes and Lipper averages are not available for direct investment.</div>

<div style="FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><img src="nxj.jpg"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">This data relates to the securities held in the Fund's portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor's Group, Moody'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.<br>
<br>
</div>

<table id="873a4faec044411bb02dba4d68a4525f" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund Allocation <br>
 (% of net assets)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Long-Term Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">145.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common Stocks</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other Assets Less Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets Plus VRDP Shares, at Liquidation Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">145.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">VRDP Shares, at Liquidation Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(45.6)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="7b56ff883f3d4552bab6b1d85b4cfdf8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio Composition <br>
(% of total investments)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.9%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.2%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="0e0475b3d70e44429df8fdd79b6bf7fd" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Credit Quality <br>
(% of total investment exposure)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AAA/U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">38.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BB or Lower</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.7%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">N/R (not rated)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">N/A (not applicable)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 21.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1 </sup>Excluding investments in derivatives.<br>
<br>
</div>

<table id="7f5064c8d2bd476ca9e026fbb8ff3714" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="3f433db84464486bb07b30dc712eff7e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Municipal Value Fund</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Performance Overview and Holding Summaries as of April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Average Annual Total Returns as of April 30, 2016<br>
<br>
</div>

<table id="b9d4a354b4b1459785cff41a06c5b695" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Average Annual</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">1-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">5-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Since Inception</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NJV at Common Share NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.57%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.39%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.11%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NJV at Common Share Price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.70%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.62%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.66%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond New Jersey Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.14%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.91%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.74%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.16%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.56%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.63%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lipper New Jersey Municipal Debt Funds Classification Average</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.16%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.01%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.69%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Since inception returns are from 4/28/09. 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. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index and Lipper return information is provided for the Fund's shares at NAV only. Indexes and Lipper averages are not available for direct investment.</div>

<div style="FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><img src="njv.jpg"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">This data relates to the securities held in the Fund's portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor's Group, Moody'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.<br>
<br>
</div>

<table id="1cf88b77dfc449768f31aaedd9bd471d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund Allocation <br>
 (% of net assets)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Long-Term Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">106.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common Stocks</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.0%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other Assets Less Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2.6)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets Plus Floating Rate Obligations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">105.9%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Floating Rate Obligations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(5.9)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="eb445643ba5f404980d483e4332a734a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio Composition <br>
 (% of total investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.7%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Housing/Multifamily</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.9%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="e8d05e85dfb84435b6585f53440707f2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Credit Quality <br>
 (% of total investment exposure)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.0%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">38.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">33.7%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BB or Lower</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.7%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">N/R (not rated)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.2%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 75%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">N/A (not applicable)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 75%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 23.64%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4.04%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">17</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Performance Overview and Holding Summaries as of April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Average Annual Total Returns as of April 30, 2016<br>
<br>
</div>

<table id="e7d5eda23ef44a0f9a038efbb9486a70" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Average Annual</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">1-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">5-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.32%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">10-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NQP at Common Share NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.13%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.46%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.61%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.35%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NQP at Common Share Price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.13%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.21%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.12%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.21%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond Pennsylvania Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.13%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.23%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.70%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.01%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.13%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.16%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.56%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.87%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lipper Pennsylvania Municipal Debt Funds Classification Average</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.13%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.09%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.58%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.93%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index and Lipper return information is provided for the Fund's shares at NAV only. Indexes and Lipper averages are not available for direct investment.</div>

<div style="FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><img src="nqp.jpg"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">This data relates to the securities held in the Fund's portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor's Group, Moody'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.<br>
<br>
</div>

<table id="c24f53b8044c4a1194c78e6062435c37" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund Allocation <br>
 (% of net assets)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Long-Term Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">145.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other Assets Less Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.9%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets Plus Floating Rate Obligations, VMTP Shares, at Liquidation Preference &amp;VRDP Shares, at Liquidation Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">148.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Floating Rate Obligations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(4.8)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">VMTP Shares, at Liquidation Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(7.9)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 91%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">VRDP Shares, at Liquidation Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(35.8)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 91%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 8.32%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="d976a66ecd844418a621b5c7ba998781" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio Composition <br>
 (% of total investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.0%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Water and Sewer</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Utilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11.0%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="95a4e0cfaef847bcbba96bdc826e5a4e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Credit Quality <br>
 (% of total investment exposure)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AAA/U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">45.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BB or Lower</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">N/R (not rated)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 61%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.4%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="49f2c18e64894c399f0b7ca0edc61145" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="bf696d4ca8424d468781257c38667710" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Municipal Value Fund</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 87%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Performance Overview and Holding Summaries as of April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Average Annual Total Returns as of April 30, 2016<br>
<br>
</div>

<table id="b848c618083040f998d2558761066fd9" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Average Annual</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">1-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">5-Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Since Inception</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NPN at Common Share NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.82%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.88%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.81%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">NPN at Common Share Price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.09%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.37%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.31%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond Pennsylvania Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.23%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.70%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.67%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 66%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">S&amp;P Municipal Bond Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.16%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.56%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.63%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 66%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lipper Pennsylvania Municipal Debt Funds Classification Average</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.16%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.09%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.58%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.42%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Since inception returns are from 4/28/09. 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. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index and Lipper return information is provided for the Fund's shares at NAV only. Indexes and Lipper averages are not available for direct investment.</div>

<div style="FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><img src="npn.jpg"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">This data relates to the securities held in the Fund's portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor's Group, Moody'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.<br>
<br>
</div>

<table id="0ae405ee1ee6474e8fbbc996fd2214d1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund Allocation <br>
 (% of net assets)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Long-Term Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">98.2%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other Assets Less Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="75f0b335dfec4367856b09e2a9a630fc" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio Composition <br>
 (% of total investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.2%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Water and Sewer</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.2%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Long-Term Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.2%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.1%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Utilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.0%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.9%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Housing/Multifamily</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="6912de84d0454706b962b2a8d7c7d588" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Credit Quality <br>
 (% of total investment exposure)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AAA/U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.3%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">45.6%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">BB or Lower</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.4%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 78%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">N/R (not rated)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.5%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 78%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 21.08%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="688cc1b4b5764b82ab60244272499111" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">19</div>
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Report of Independent Registered Public Accounting Firm</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-FAMILY: Arial">To the Board of Trustees and Shareholders of</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Nuveen New Jersey Dividend Advantage Municipal Fund</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Nuveen New Jersey Municipal Value Fund</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Nuveen Pennsylvania Investment Quality Municipal Fund</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Nuveen Pennsylvania Municipal Value Fund:</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of Nuveen New Jersey Dividend Advantage Municipal Fund, Nuveen New Jersey Municipal Value Fund, Nuveen Pennsylvania Investment Quality Municipal Fund and Nuveen Pennsylvania Municipal Value Fund (the "Funds") as of April 30, 2016, and the related statements of operations and cash flows (Nuveen New Jersey Dividend Advantage Municipal Fund and Nuveen Pennsylvania Investment Quality Municipal Fund) for the year then ended and the statements of changes in net assets and financial highlights for each of the years in the two-year period then ended. The statements of changes in net assets and the financial highlights for the periods presented through April 30, 2014, were audited by other auditors whose report dated June 25, 2014, expressed an unqualified opinion on those statements and those financial highlights. These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of April 30, 2016, by correspondence with the custodian and brokers or other appropriate auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of the Funds as of April 30, 2016, the results of their operations and their cash flows (Nuveen New Jersey Dividend Advantage Municipal Fund and Nuveen Pennsylvania Investment Quality Municipal Fund) for the year then ended and the changes in their net assets and the financial highlights for each of the years in the two-year period then ended, in conformity with U.S. generally accepted accounting principles.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-FAMILY: Arial">/s/ KPMG LLP</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, Illinois</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">June 27, 2016</font></div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">20</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Shareholder Meeting Report</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The annual meeting of shareholders was held in the offices of Nuveen Investments on November 17, 2015 for NXJ, NJV, NQP and NPN; at this meeting the shareholders were asked to elect Board Members.</div>

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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">NXJ</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">NJV</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">NQP</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9%">&#160;<font style="FONT-WEIGHT: bold">NPN</font></td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Common and</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Common and</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Preferred</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Preferred</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
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<tr style="HEIGHT: 17px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">shares voting</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">shares voting</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">together</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Preferred</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Common</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">together</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Preferred</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Common</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
</tr>

<tr>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">as a class</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">as a class</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Approval of the Board Members was reached as follows:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Jack B. Evans</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">For</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,124,311</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,407,766</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31,037,164</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,061,517</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Withhold</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,848,199</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,094,658</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">40,464</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">37,972,510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,438,136</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,131,822</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,101,981</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">William C. Hunter</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">For</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Withhold</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">William J. Schneider</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">For</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,407,766</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,061,517</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Withhold</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">40,464</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,438,136</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,101,981</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Thomas S. Schreier, Jr.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">For</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,117,157</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,407,766</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31,101,254</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,058,487</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 33%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Withhold</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,855,353</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,030,568</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">43,494</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 33%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">37,972,510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.27%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,438,136</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,131,822</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,101,981</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="869d1485174a4674913b631c7b587b64" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">21</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>

<div>
<div style="FONT-FAMILY: Arial">&#160;</div>

<table id="7671ed987b3d4b09a42bed0551158bef" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 49%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 37.92%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 49%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 37.92%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 49%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio of Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 37.92%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b10971dbf37a414aaaf956bc9b3c5188" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">LONG-TERM INVESTMENTS &#8211; 145.2% (100.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">MUNICIPAL BONDS &#8211; 145.1% (99.9% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Consumer Discretionary &#8211; 0.4% (0.2% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Middlesex County Improvement Authority, New Jersey, Senior Revenue Bonds, Heldrich Center Hotel/Conference Center Project, Series 2005A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,720</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Caa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,336,199</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 1/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Caa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,163,379</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,205</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Consumer Discretionary</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,499,578</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Consumer Staples &#8211; 5.6% (3.9% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.500%, 6/01/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,429,110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 6/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,432,001</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,890</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,652,982</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">40,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Consumer Staples</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">38,514,093</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Education and Civic Organizations &#8211; 15.6% (10.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Camden County Improvement Authority, New Jersey, Lease Revenue Bonds Rowan University School of Osteopathic Medicine Project, Series 2013A, 5.000%, 12/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,051,808</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,025</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, The Seeing Eye Inc., Refunding Series 2015, 5.000%, 3/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,552,695</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Rutgers University General Obligation Lease Revenue Bonds, Tender Option Bond Trust 3359, 16.963%, 12/15/36 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,979,064</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Education Facilities Authority Revenue Bonds, The College of New Jersey Issue, Series 2013A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,475</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,838,627</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,695,737</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Georgian Court University, Series 2007D, 5.000%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">259,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Refunding Series 2015H, 4.000%, 7/01/39 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,164,944</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2014A, 5.000%, 7/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,747,150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2015D:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,395</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,882,981</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,910,080</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,188,410</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,955</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, New Jersey City University, Series 2015A, 5.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,715,156</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Passaic County Community College, Series 2010C:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,645,560</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 7/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,089,990</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Series 2007E, 5.000%, 7/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,050,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,335</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Tender Option Bond Trust 2015-XF0099, 12.848%, 7/01/19 (IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,331,918</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Tender Option Bond Trust 2015-XF0149, 13.078%, 7/01/44 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,400,960</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="0ef77da186d04cf9bdb5cd9281b71f5c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="8846ae58052d47d9930474a175d8aa16" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Education and Civic Organizations </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Ramapo College, Series 2012B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">622,792</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,050</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,179,748</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,237,264</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">807,051</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Refunding Series 2015C, 5.000%, 7/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,393,236</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 2013D:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">774,171</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,935</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,200,385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,560</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, William Paterson University, Series 2015C, 5.000%, 7/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,184,492</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Refunding Bonds, College of New Jersey, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">216,334</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/19</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,113,610</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,815</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2008A, 6.125%, 6/01/30 &#8211; AGC Insured (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,030,404</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-1A, 5.000%, 12/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,204,654</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">960</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-2, 5.000%, 12/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,051,709</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,590</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2011-1, 5.750%, 12/01/27 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,806,097</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,085</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.250%, 12/01/25 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,563,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,725</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.375%, 12/01/26 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,892,739</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1B, 5.750%, 12/01/39 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">555,265</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2013-1A, 3.750%, 12/01/26 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,052,030</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2015-1A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 12/01/28 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,280,850</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,575</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 12/01/30 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,703,209</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust 2015-XF0151:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">11.074%, 12/01/23 (Alternative Minimum Tax) (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,751,568</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">11.142%, 12/01/24 (Alternative Minimum Tax) (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,510,950</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">850</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">11.572%, 12/01/25 (Alternative Minimum Tax) (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,012,350</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">11.997%, 12/01/26 (Alternative Minimum Tax) (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">302,030</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">12.987%, 12/01/27 (Alternative Minimum Tax) (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,108,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust 2016-XG0001, 18.578%, 6/01/30 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,879,760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">575</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Institute of Technology, New Jersey, General Obligation Bonds, Series 2012A, 5.000%, 7/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">663,838</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Institute of Technology, New Jersey, General Obligation Bonds, Series 2015A, 5.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,620,850</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,170</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rutgers State University, New Jersey, Revenue Bonds, Tender Option Bond Trust 3339, 17.081%, 5/01/21 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,527,943</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">89,820</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">107,752,469</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="959b1801bcb54eca9ecc4e28253e548c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">23</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="724c87edd1a3416baf5df10f6d5b10cc" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="90661b83d96f4e8b9327b1877b4a2601" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Financials &#8211; 1.7% (1.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Revenue Refunding Bonds, Kapkowski Road Landfill Project, Series 2002:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 10/01/21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,471,516</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 4/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,855,995</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Financials</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,327,511</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Health Care &#8211; 24.4% (16.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Refunding Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">209,036</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">260,693</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,320</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,553,244</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,618,511</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,610,146</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,862,875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,040</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,467,576</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">165,069</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,950</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,215,551</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Series 2013A, 5.750%, 2/15/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,212,823</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Finance Authority, Revenue Bonds, AHS Hospital Corporation, Series 2008A, 5.000%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,534,232</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Hospital Revenue Bonds, Virtua Health, Tender Option Bond Trust 3018, 17.760%, 7/01/38 &#8211; AGC Insured (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,737,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,194,880</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 7/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,718,925</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,050</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,196,698</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,140</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Barnabas Health, Series 2012A, 5.000%, 7/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,348,164</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Palisades Medical Center Obligated Group Issue, Series 2013:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,527,188</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,560</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,776,996</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, Refunding Series 2014A, 5.000%, 7/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,365,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,765</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, CentraState Medical Center, Series 2006A, 5.000%, 7/01/30 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,898,017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Refunding Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,055</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,340,460</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,295</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,424,164</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Kennedy Health System Obligated Group Issue, Refunding Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,140</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.750%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,350,146</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,790,024</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,656,705</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health System Obligated Group, Refunding Series 2011:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,570,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,544,950</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,935,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,450</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health System Obligated Group, Refunding Series 2013A, 5.000%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,673,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="c4b795936830441d98b5dd3438f10a73" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="db30cc9938024e9bba159eacf4a3192c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Health Care </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health, Series 2007:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,605</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,132,787</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,448,355</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton HealthCare System, Series 2016A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">830</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">994,290</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,055</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,258,657</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">340</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">404,308</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Robert Wood Johnson University Hospital Issue, Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,843,019</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,955</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,798,347</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,945</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Robert Wood Johnson University Hospital, Series 2013A, 5.500%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,662,122</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, RWJ Health Care Corporation, Series 2005B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/25 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,623,434</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,885</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/35 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,889,501</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,670</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2011A, 5.625%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,924,965</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Series 2006A, 5.000%, 7/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,578,206</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph's Healthcare System Obligated Group Issue, Series 2008, 6.625%, 7/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,490,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,345</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Luke's Warren Hospital Obligated Group, Series 2013, 4.000%, 8/15/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,420,579</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, South Jersey Hospital System, Refunding Series 2006:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">670</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">674,623</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,780</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,827,675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,575</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,592,124</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,055</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.125%, 7/01/38 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,390,804</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,910</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,470,459</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Adjustable Rate Industrial Revenue Bonds, American Home Products Corporation, Series 1983A, 5.100%, 12/01/18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,856,950</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">151,270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">168,041,428</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Multifamily &#8211; 4.0% (2.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, Provident Group &#8211; Rowan Properties LLC &#8211; Rowan University Student Housing Project, Series 2015A, 5.000%, 1/01/48</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,061,747</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,075</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, West Campus Housing LLC &#8211; New Jersey City University Student Housing Project, Series 2015, 5.000%, 7/01/47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,269,704</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident <br>
 Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,370,352</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,351,664</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Housing and Mortgage Finance Agency, Multifamily Housing Revenue Bonds, Series 2013-2:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,410</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.350%, 11/01/33 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,550,551</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.600%, 11/01/38 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,461,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 11/01/46 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,454,131</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="1764f17f37714bc1b8e1b3058fc06469" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">25</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="40fc5890b91944899d0ec0cbed1275c6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 12px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="2ccea82119204221b76c7ab8aa6648fc" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Housing/Multifamily </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2015A, 4.000%, 11/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,349,677</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2015B, 1.000%, 11/01/17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,882,808</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,255</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Multifamily</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27,752,534</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Single Family &#8211; 3.3% (2.2% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Housing &amp; Mortgage Finance Agency, Single Family Home Mortgage Revenue Bonds, Series 2011A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.450%, 10/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,002,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.650%, 10/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,844,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Series 2007T, 4.700%, 10/01/37 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">606,546</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Single Family</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22,453,846</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Industrials &#8211; 0.2% (0.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,340</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gloucester County Improvement Authority, New Jersey, Solid Waste Resource Recovery Revenue Refunding Bonds, Waste Management Inc. Project, Series 1999-99A, 2.125%, 12/01/29 (Mandatory put 12/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,361,494</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Care &#8211; 1.9% (1.3% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,255</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Burlington County Bridge Commission, New Jersey, Economic Development Revenue Bonds, The Evergreens Project, Series 2007, 5.625%, 1/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,536,090</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Fixed Rate Revenue Bonds, Lions Gate Project, Series 2014, 5.250%, 1/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">535,735</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New Jersey Obligated Group Issue, Refunding Series 2013, 5.000%, 7/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,460,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,410</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New Jersey Obligated Group Issue, Refunding Series 2014A, 5.000%, 7/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,573,461</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13,105,536</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/General &#8211; 7.5% (5.2% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cumberland County Improvement Authority, New Jersey, County General Obligation Revenue Bonds, Technical High School Project, Series 2014, 5.000%, 9/01/39 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,568,807</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Elizabeth, Union County, New Jersey, General Obligation Bonds, General Improvement Series 2014, 3.125%, 4/01/27 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">875,729</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Freehold Regional High School District, Monmouth County, New Jersey, General Obligation Bonds, Refunding Series 2001, 5.000%, 3/01/17 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,330,438</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Haddon Heights School District, Camden County, New Jersey, General Obligation Bonds, Refunding Series 2012, 3.250%, 1/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">716,006</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Linden, New Jersey, General Obligation Bonds, Refunding Series 2011, 4.000%, 5/01/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,226,346</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Medford Township Board of Education, Burlington County, New Jersey, General Obligation Bonds, Refunding Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">710</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">847,406</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">755</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">929,239</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,975</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Middletown Township Board of Education, Monmouth County, New Jersey, Refunding Series 2010, 5.000%, 8/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,303,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe Township Board of Education, Middlesex County, New Jersey, General Obligation Bonds, Refunding Series 2015, 5.000%, 3/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,674,166</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montclair Township, Essex County, New Jersey, General Obligation Bonds, Parking Utility, Refunding Series 2014A, 5.000%, 1/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">880,946</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="1c6563e5254b4dda92b4bb625aaa83f0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="ce67b2df52c04c13b8e3f67fa61ec994" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Obligation/General </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Brunswick Parking Authority, Middlesex County, New Jersey, Guaranteed Parking Revenue Bonds, Refunding Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">465</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">541,925</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">610</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">709,088</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">347,514</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.625%, 9/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">261,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Brunswick Parking Authority, Middlesex County, New Jersey, Guaranteed Parking Revenue Bonds, Refunding Series 2016:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.000%, 9/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,013,150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.000%, 9/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,011,540</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward Police Facility, Series 2009A, 6.750%, 12/01/38 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,937,133</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ocean County, New Jersey, General Obligation Bonds, Refunding Series 2015A, 4.000%, 8/01/19 (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aaa</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,799,540</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">South Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Refunding Series 2014:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.000%, 9/01/17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">762,096</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">486,956</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Sparta Township Board of Education, Sussex County, New Jersey, General Obligation Bonds, Refunding Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,595</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,910,778</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,189,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,395</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,650,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,260</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sussex County, New Jersey, General Obligation Bonds, Refunding Series 2014, 4.000%, 2/15/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,902,536</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,165</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Utilities Authority, New Jersey, Resource Recovery Facility Lease Revenue Refunding Bonds, Covanta Union Inc. Lessee, Series 2011B, 5.250%, 12/01/31 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,767,187</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,515</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Utilities Authority, New Jersey, Solid Waste System County Deficiency Revenue Bonds, Series 2011A, 5.000%, 6/15/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,828,646</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds, Series 2005, 5.250%, 1/01/27 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,910,423</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,435</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Deptford Township, Gloucester County, New Jersey, General Obligation Bonds, Refunding Series 2014, 4.000%, 9/01/28 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,607,530</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">635</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Deptford Township, Gloucester County, New Jersey, General Obligation Bonds, Series 2005, 5.000%, 7/01/27 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">665,016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Woodbridge Township, Middlesex County, New Jersey, General Obligation Bonds, Series 2010, 5.000%, 7/15/19</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,764</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">45,745</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">51,767,119</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/Limited &#8211; 32.4% (22.3% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,775</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bergen County Improvement Authority, New Jersey, Guaranteed Lease Revenue Bonds, County Administration Complex Project, Series 2005, 5.000%, 11/15/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aaa</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,965,484</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Essex County Improvement Authority, New Jersey, Project Consolidation Revenue Bonds, Series 2007, 5.250%, 12/15/22 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,181,551</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, Series 2003B, 0.000%, 11/01/25 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,396,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, Series 2005A, 5.750%, 11/01/28 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,874,365</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, Series 2005C, 5.125%, 11/01/18 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,630,106</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Government of Guam, Business Privilege Tax Bonds, Series 2011A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,005</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,657,802</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,020</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 1/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,353,136</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">569,110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="9663dea451b84346b92e79919a72a815" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">27</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b43ce54e84f74a2dbdf8ed36e0c7ab05" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="7dc30addffb64b78a2abf2bd806d5049" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Obligation/Limited </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hudson County Improvement Authority, New Jersey, County Secured Lease Revenue Bonds, Hudson County Plaza Refunding Project, Series 2013, 3.250%, 4/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,134,464</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Hudson County Improvement Authority, New Jersey, County Secured Lease Revenue Bonds, Hudson County Vocational Technical Schools Project, Series 2016:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/46 (WI/DD, Settling 5/17/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,644,796</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,745</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/01/51 (WI/DD, Settling 5/17/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,469,058</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">345,935</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,000,640</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,781,368</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,945</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,571,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">415</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">446,013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Revenue Bonds, Newark Downtown District Management Corporation Project, Series 2007:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">440</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/15/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">452,118</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/15/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">755,547</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2014PP, 5.000%, 6/15/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,494,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2014UU, 5.000%, 6/15/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,979,890</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2015WW, 5.250%, 6/15/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13,146,720</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,805</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset Transformation Program, Series 2008A, 5.250%, 10/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,932,812</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Transportation Trust Fund Authority, Federal Highway Aid Grant Anticipation Bonds, Series 2006:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/17 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,132,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/18 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,772,013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">33,295</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,353,687</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.500%, 12/15/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,291,105</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/32 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,737,510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">34,855</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/33 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16,999,481</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/34 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,115,064</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2004B, 5.500%, 12/15/16 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,266,940</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2007A, 5.000%, 12/15/26 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,911,150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,895,440</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,860</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Passaic County Improvement Authority, New Jersey, Lease Revenue Bonds, Preakness Healthcare Center Expansion Project, Refunding Series 2015, 3.750%, 5/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,008,108</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Passaic County Improvement Authority, New Jersey, Lease Revenue Bonds, Preakness Healthcare Center Expansion Project, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">865</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,023,926</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,560</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.500%, 5/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,707,242</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,640</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico Convention Center District Authority, Hotel Occupancy Tax Revenue Bonds, Series 2006A, 4.500%, 7/01/36 &#8211; CIFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">CC</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,357,467</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Improvement Authority, New Jersey, General Obligation Lease Bonds, County College Facility Project, Series 2014B, 5.000%, 2/01/20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,861,825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="d0df35a92612415fba14824ece0a01f8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="64b24ba3c05349bfb175ec2625837f5c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Obligation/Limited </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Union County Improvement Authority, New Jersey, General Obligation Lease Bonds, Juvenile Detention Center Facility Project, Tender Option Bond Trust 2015-XF1019:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">285</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.241%, 5/01/28 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">741,812</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">285</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.319%, 5/01/29 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">754,053</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.319%, 5/01/30 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">541,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.078%, 5/01/31 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,008,668</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.204%, 5/01/32 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,070,108</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.208%, 5/01/33 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,113,272</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">415</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">23.319%, 5/01/34 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,154,675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,975</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Improvement Authority, New Jersey, Lease Revenue Refunding Bonds, City of Plainfield &#8211; Park Madison Redevelopment Project, Tender Option Trust 1145, 16.794%, 3/01/34 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,789,560</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate Lien Series 2010B, 5.250%, 10/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,907,769</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">261,715</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">223,297,795</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Transportation &#8211; 25.3% (17.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Casino Reinvestment Development Authority, New Jersey, Parking Revenue Bonds, Series 2005A, 5.250%, 6/01/20 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,568,704</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2012A, 5.000%, 1/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,720,784</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,285</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,513,859</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,890</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.125%, 1/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,406,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,006,192</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River Joint Toll Bridge Commission, New Jersey and Pennsylvania, Bridge System Revenue Bonds, Refunding Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">440</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.000%, 7/01/27 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">462,431</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/34 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,099,850</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,820</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/35 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,084,826</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River Joint Toll Bridge Commission, Pennsylvania, Revenue Bonds, Refunding Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,542,886</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,105</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,319,945</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">722,735</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">625</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">689,588</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,127,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,626,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,035</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2013, 5.000%, 1/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,202,247</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port District Project, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,068,830</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,635</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,876,048</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,350</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,537,934</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,595</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,084,891</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,555</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.625%, 1/01/52 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,342,977</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 9/15/23 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,117,920</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 9/15/29 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 101.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,997,766</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000A &amp; 2000B, 5.625%, 11/15/30 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/24 at 101.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,586,038</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="1e4ce13aa11a41068331d537c0595f4a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">29</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="7ae1132cfea449fea0e0e442f72eb482" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="bb78ff85459d4b61820f20abe6023f60" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Transportation </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Transit Corporation, Grant Anticipation Notes, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/15/20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,724,680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/15/21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,554,943</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2015E, 5.000%, 1/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,264,686</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,065</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.250%, 1/01/29 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,053,922</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Series 2009I, 5.000%, 1/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,357,475</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Series 2012B, 5.000%, 1/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,046,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,625</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 1154, 16.075%, 1/01/43 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,842,340</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Passaic County Improvement Authority, New Jersey, County Guaranteed Parking Revenue Bonds, 200 Hospital Plaza Project, Series 2010, 5.000%, 5/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,365,524</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Passaic County Improvement Authority, New Jersey, Revenue Bonds, Paterson Parking Deck Facility, Series 2005, 5.000%, 4/15/35 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,759,185</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,450,071</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Seventh Series 2013, 4.000%, 1/15/43 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,926,929</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC, Sixth Series 1997:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,655</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/22 &#8211; NPFG Insured (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,090,948</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/25 &#8211; NPFG Insured (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,444,652</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">155,830</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">174,588,191</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">U.S. Guaranteed &#8211; 14.4% (9.9% of Total Investments) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jersey City, New Jersey, General Obligation Bonds, Series 2006A, 5.000%, 9/01/22 (Pre-refunded 9/01/16) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1 (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,629,285</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Building Authority, State Building Revenue Bonds, Series 2007A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,450</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/25 (Pre-refunded 6/15/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,470,045</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,005</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/26 (Pre-refunded 6/15/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+ (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,045,979</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,785</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/27 (Pre-refunded 6/15/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+ (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,795,442</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">930</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, Yeshiva Ktana of Passaic, Series 1993, 8.000%, 9/15/18 (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,016,881</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Series 2007U:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,625</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/37 (Pre-refunded 9/01/17) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,777,119</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,435</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/37 (Pre-refunded 9/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,749,958</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,545</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/37 (Pre-refunded 9/01/17) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,634,533</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,910</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/37 (Pre-refunded 9/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,078,635</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,080</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Series 2005B, 5.000%, 7/01/30 (Pre-refunded 7/01/16) &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,103,839</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Series 2007D:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32 (Pre-refunded 7/01/17) &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,680,252</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/39 (Pre-refunded 7/01/17) &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,223,219</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,710</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2006A, 5.000%, 7/01/36 (Pre-refunded 7/01/16) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,746,455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 6.000%, 12/01/17 (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,436</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 12/01/19 (Pre-refunded 6/01/19)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 12/01/20 (Pre-refunded 6/01/19)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">116,881</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.125%, 12/01/23 (Pre-refunded 6/01/19)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,939</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,840</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Atlanticare Regional Medical Center, Series 2007, 5.000%, 7/01/37 (Pre-refunded 7/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1 (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,188,908</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="f88f8866eee5425098f3d20b34035d07" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="471ee1e6669544768de3796c0f418999" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">U.S. Guaranteed (5) </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,040</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Series 2006B, 5.000%, 7/01/36 (Pre-refunded 7/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,055,932</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,340</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Series 2006, 5.125%, 7/01/35 (Pre-refunded 7/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,350,747</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, South Jersey Hospital System, Refunding Series 2006, 5.000%, 7/01/46 (Pre-refunded 7/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">85,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,805</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, St. Clare's Hospital, Series 2004A, 5.250%, 7/01/20 &#8211; RAAI Insured (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,454,780</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Sports and Exposition Authority, Convention Center Luxury Tax Bonds, Series 2004, 5.500%, 3/01/22 &#8211; NPFG Insured (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,872,765</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Water Supply Authority, Water Supply Authority Bonds, Manasquan Reservoir, Series 2005, 5.000%, 8/01/31 (Pre-refunded 6/15/16) &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,655,726</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,840</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Hudson Sewerage Authority, New Jersey, Sewerage Revenue Refunding Bonds, Series 2001A, 0.000%, 8/01/23 &#8211; NPFG Insured (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3 (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,100,293</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,580</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty Eighth Series 2007, 5.000%, 8/15/32 (Pre-refunded 8/15/17) &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,008,346</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">96,995</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">98,903,265</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utilities &#8211; 2.7% (1.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Essex County Improvement Authority, New Jersey, Solid Waste Disposal Revenue Bonds, Covanta Project, Series 2015, 5.250%, 7/01/45 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,438,096</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Industrial Pollution Control Financing Authority of Cape May County, New Jersey, Pollution Control Revenue Refunding Bonds, 1991 Series A (Atlantic City Electric Company Project), 6.800%, 3/01/21 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,826,889</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Energy Facilities Revenue Bonds, UMM Energy Partners, LLC Project, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 6/15/32 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,040,690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/15/43 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,280,346</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New <br>
 Jersey-American Water Company Inc. Project, Refunding Series 2010B, 5.600%, 11/01/34 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,662,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,040</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New <br>
 Jersey-American Water Company Inc. Project, Refunding Series 2010D, 4.875%, 11/01/29 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,227,639</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,075</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">18,475,660</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Water and Sewer &#8211; 5.7% (4.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Bergen County Utilities Authority, New Jersey, Water Pollution Control System Revenue Bonds, Refunding Series 2014:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 12/15/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,037,290</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 12/15/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,032,060</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,460</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Water Facilities Revenue Bonds, Middlesex Water Company, Series 2012A, 5.000%, 10/01/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,777,842</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,670</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Water Facilities Revenue Bonds, Middlesex Water Company, Series 2012C, 4.250%, 10/01/47 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16,326,573</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Environmental Infrastructure Trust, Environmental Infrastructure Bonds, Series 2012A, 3.250%, 9/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,760,203</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Environmental Infrastructure Trust, Environmental Infrastructure Bonds, Tender Option Bond Trust 2016-XF0395, 7.026%, 9/01/21 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AAA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,185,924</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">North Hudson Sewerage Authority, New Jersey, Gross Revenue Senior Lien Lease Certificates, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,820</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/27 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,429,328</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/42 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,475,160</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wanaque Valley Regional Sewer Authority, Passaic County, New Jersey, Sewer Revenue Refunding Bonds, Series 1993B, 5.750%, 9/01/18 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">506,296</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35,385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Water and Sewer</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">39,530,676</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">968,095</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Municipal Bonds (cost $913,185,229)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">999,371,195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="2d6009c8bc9841ceaef5a4957fca3a34" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">31</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="12a337a7cdee443d80f9ed60eb139477" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div>
<table id="e4bacb58a24b405286a4ef168656a3d5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 18px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 69%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 69%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">COMMON STOCKS &#8211; 0.1% (0.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 69%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Airlines &#8211; 0.1% (0.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,512</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 69%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">American Airlines Group Inc., (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">676,871</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 69%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Common Stocks (cost $0)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">676,871</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 69%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Investments (cost $913,185,229)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">1,000,048,066</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 69%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate Demand Preferred Shares, at Liquidation Preference &#8211; (45.6)% (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(313,900,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 69%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other Assets Less Liabilities &#8211; 0.4% (8)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">2,823,197</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 69%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net Assets Applicable to Common Shares &#8211; 100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">688,971,263</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>
</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Investments in Derivatives as of April 30, 2016</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Interest Rate Swaps outstanding:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 0px">&#160;</div>

<table id="6636ed4d2bfd4ec7bba59c267546bfb7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fixed Rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Unrealized</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.47%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Notional</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pay/Receive</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Floating Rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fixed Rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Payment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Effective</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Termination</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Appreciation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.47%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 16%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Counterparty</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Floating Rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Index</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(Annualized</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Frequency</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Date (9</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 8.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Date</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 0.98%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(Depreciation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.47%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">JPMorgan Chase Bank, N.A.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.98%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">58,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.97%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Receive</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.98%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">USD-BMA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.98%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 8.01%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.97%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 8.01%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Quarterly</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.98%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 8.01%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/14/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.97%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 8.01%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/14/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 0.98%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.47%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="b87918dae9034a36bffde272624d1d8c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor's Group ("Standard &amp; Poor's"), Moody's Investors Service, Inc. ("Moody's") or Fitch, Inc. ("Fitch") rating. Ratings below BBB by Standard &amp; Poor's, Baa by Moody's or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives and/or inverse floating rate transactions.</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">On November 28, 2011, AMR Corp. ("AMR"), the parent company of American Airlines Group, Inc. ("AAL") filed for federal bankruptcy protection. On December 9, 2013, AMR emerged from federal bankruptcy with the acceptance of its reorganization plan by the bankruptcy court. Under the settlement agreement established to meet AMR's unsecured bond obligations, the bondholders, including the Fund, received a distribution of AAL preferred stock which was converted to AAL common stock over a 120-day period. Every 30 days, a quarter of the preferred stock was converted to AAL common stock based on the 5-day volume-weighted average price and the amount of preferred shares tendered during the optional preferred conversion period.</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Variable Rate Demand Preferred Shares, at Liquidation Preference as a percentage of Total Investments is 31.4%.</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(8)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter ("OTC") derivatives as presented on the Statement of Assets and Liabilities. The unrealized appreciation (depreciation) of OTC-cleared and exchange-traded derivatives is recognized as part of the cash collateral at brokers and/or the receivable or payable for variation margin as presented on the Statement of Assets and Liabilities, when applicable.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(9)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Escrowed to maturity.</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Inverse floating rate investment.</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">USD-BMA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">United States Dollar-Bond Market Association</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(WI/DD)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">&#160;</div>

<table id="66b0c65181bf4ae6af64a1d3c1702f7e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
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</table>

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<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

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<tr>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Municipal Value Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 62%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio of Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="1a1df848b7f74700b15400918855e0a4" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">LONG-TERM INVESTMENTS &#8211; 108.5% (100.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">MUNICIPAL BONDS &#8211; 106.5% (98.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Consumer Staples &#8211; 3.8% (3.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 6/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">141,654</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">827,831</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,020</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Consumer Staples</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">969,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Education and Civic Organizations &#8211; 14.8% (13.7% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Camden County Improvement Authority, New Jersey, Lease Revenue Bonds Rowan University School of Osteopathic Medicine Project, Series 2013A, 5.000%, 12/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">128,238</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, The Seeing Eye Inc., Refunding Series 2015, 5.000%, 3/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">144,968</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Rutgers University General Obligation Lease Revenue Bonds, Tender Option Bond Trust 3359, 16.963%, 12/15/36 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">72,936</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Refunding Series 2009A, 5.500%, 9/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,014,282</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Refunding Series 2015H, 4.000%, 7/01/39 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">105,904</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">155</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, New Jersey City University, Series 2015A, 5.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">174,786</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,718</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 2013D, 5.000%, 7/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">86,019</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2009A, 5.625%, 6/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,109,970</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-2, 5.000%, 12/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,866</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1B, 5.750%, 12/01/39 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">111,053</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2015-1A, 4.000%, 12/01/30 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">204,709</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust 2015-XF0151, 11.074%, 12/01/23 (Alternative Minimum Tax) (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">125,112</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Institute of Technology, New Jersey, General Obligation Bonds, Series 2015A, 5.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">227,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2016M, 3.000%, 5/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">24,578</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rutgers State University, New Jersey, Revenue Bonds, Tender Option Bond Trust 3339, 17.081%, 5/01/21 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">97,547</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,290</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,748,821</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Health Care &#8211; 21.5% (19.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">105</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Refunding Series 2014A, 5.000%, 2/15/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">125,421</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Series 2013A, 5.750%, 2/15/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">118,243</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Finance Authority, Revenue Bonds, AHS Hospital Corporation, Series 2008A, 5.125%, 7/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,452</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="c02d86c3a7794ad0bbcf1505b1fa8365" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">33</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="6e40df0e3d374176b30a83e9ac00b07b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 55%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Municipal Value Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 31.97%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 55%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 31.97%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="1b1c13616b8441bf96f3812f7b971b04" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Health Care </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Hospital Revenue Bonds, Virtua Health, Series 2009A, 5.500, 7/01/38 &#8211; AGC Insured (UB) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,247,540</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Palisades Medical Center Obligated Group Issue, Series 2013, 5.250%, 7/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">215</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, Refunding Series 2014A, 5.000%, 7/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">244,365</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Refunding Series 2014A, 4.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">103,920</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health System Obligated Group, Refunding Series 2011, 5.000%, 7/01/21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">23,520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health, Series 2007:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">106,940</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">64,430</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton HealthCare System, Series 2016A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,948</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">47,722</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Robert Wood Johnson University Hospital Issue, Series 2014A, 5.000%, 7/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">148,664</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Robert Wood Johnson University Hospital, Series 2013A, 5.500%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">118,178</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">70</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2011A, 5.625%, 7/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">81,453</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph's Healthcare System Obligated Group Issue, Series 2008, 6.000%, 7/01/18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">780,367</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Luke's Warren Hospital Obligated Group, Series 2013, 4.000%, 8/15/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">103,223</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">705</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, South Jersey Hospital System, Refunding Series 2006, 5.000%, 7/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">708,828</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.125%, 7/01/38 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">133,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">125,767</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,960</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,430,155</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Multifamily &#8211; 7.7% (7.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, Provident Group &#8211; Rowan Properties LLC &#8211; Rowan University Student Housing Project, Series 2015A, 5.000%, 1/01/48</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">108,513</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">155</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, West Campus Housing LLC &#8211; New Jersey City University Student Housing Project, Series 2015, 5.000%, 7/01/47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">159,968</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident <br>
 Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,929</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55,992</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2009A, 4.950%, 5/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,056,230</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2015A, 4.000%, 11/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,834</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2015B, 1.000%, 11/01/17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">130,342</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="fef3b001581849ab8487b210a0fa6b83" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b37dc78bae7444bf9b5a704ec1cfdcf1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Housing/Multifamily </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2016A, 3.600%, 11/01/40 (WI/DD, Settling 5/12/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">270,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,865</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Multifamily</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,955,808</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Single Family &#8211; 0.7% (0.6% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">165</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Housing &amp; Mortgage Finance Agency, Single Family Home Mortgage Revenue Bonds, Series 2011A, 4.500%, 10/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">168,920</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Care &#8211; 1.5% (1.4% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">160</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Burlington County Bridge Commission, New Jersey, Economic Development Revenue Bonds, The Evergreens Project, Series 2007, 5.625%, 1/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">168,558</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Fixed Rate Revenue Bonds, Lions Gate Project, Series 2014, 5.250%, 1/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,757</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">140</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New Jersey Obligated Group Issue, Refunding Series 2013, 5.000%, 7/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">152,887</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New Jersey Obligated Group Issue, Refunding Series 2014A, 5.000%, 7/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">44,637</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">355</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">381,839</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/General &#8211; 9.3% (8.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bloomfield Township Board of Education, Essex County, New Jersey, General Obligation Bonds, Series 2011, 3.000%, 9/01/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100,745</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hillsborough Township School District, Somerset County, New Jersey, General Obligation School Bonds, Series 2001, 5.375%, 10/01/16 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,198</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Medford Township Board of Education, Burlington County, New Jersey, General Obligation Bonds, Refunding Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">23,871</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">24,616</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monmouth County Improvement Authority, New Jersey, Governmental Loan Revenue Bonds, Series 2007, 5.000%, 12/01/16 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">153,457</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe Township Board of Education of Gloucester County, New Jersey, General Obligation Bond, Refunding Series 2014, 3.000%, 3/01/17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">203,964</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe Township Board of Education, Middlesex County, New Jersey, General Obligation Bonds, Refunding Series 2015, 5.000%, 3/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">129,017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montclair Township, Essex County, New Jersey, General Obligation Bonds, Parking Utility, Refunding Series 2014A, 5.000%, 1/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">23,183</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Brunswick Parking Authority, Middlesex County, New Jersey, Guaranteed Parking Revenue Bonds, Refunding Series 2016A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/29 (WI/DD, Settling 5/19/16) &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">381,567</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/39 (WI/DD, Settling 5/19/16) &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">154,501</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward Police Facility, Series 2009A, 6.750%, 12/01/38 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">587,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Bergen Township, New Jersey, General Obligation Bonds, General Improvement Series 2009, 4.000%, 2/01/17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,739</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Refunding Series 2014, 3.000%, 9/01/17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,747</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sussex County, New Jersey, General Obligation Bonds, Refunding Series 2014, 4.000%, 2/15/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">115,083</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Utilities Authority, New Jersey, Resource Recovery Facility Lease Revenue Refunding Bonds, Covanta Union Inc. Lessee, Series 2011B, 5.250%, 12/01/31 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">167,489</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">170</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Utilities Authority, New Jersey, Solid Waste System County Deficiency Revenue Bonds, Series 2011A, 5.000%, 6/15/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">191,201</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="a1e0a399b0684c2eb13c6b3ab85e8c24" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">35</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="91d4677bebd342f6885ff1f678f719c4" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 55%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen New Jersey Municipal Value Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 31.97%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 55%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 31.97%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="4c024e67fa0b40938bcbd8935ff01fee" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%">&#160;</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Obligation/General </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Borough, Warren County, New Jersey, General Obligation Bonds, Series 2008, 4.500%, 3/01/17 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,769</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,070</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,348,157</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/Limited &#8211; 28.7% (26.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Burlington County Bridge Commission, New Jersey, Governmental Leasing Program Revenue Bonds, County Guaranteed, Refunding Series 2014, 3.000%, 8/15/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">251,833</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, Series 2005A, 5.750%, 11/01/28 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">346,958</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">630</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.750%, 12/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">705,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hudson County Improvement Authority, New Jersey, County Secured Lease Revenue Bonds, Hudson County Vocational Technical Schools Project, Series 2016, 5.250%, 5/01/51 (WI/DD, Settling 5/17/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">208,835</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">273,463</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">431,528</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset Transformation Program, Series 2008A, 5.250%, 10/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">749,567</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset Transformation Program, Series 2009A, 5.750%, 10/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,238,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009A, 0.000%, 12/15/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">699,455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Improvement Authority, New Jersey, General Obligation Lease Bonds, Juvenile Detention Center Facility Project, Tender Option Bond Trust 2015-XF1019, 22.712%, 5/01/30 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">292,648</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2009A-1, 5.000%, 10/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,064,230</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,055</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,262,517</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Transportation &#8211; 11.4% (10.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Casino Reinvestment Development Authority, New Jersey, Parking Revenue Bonds, Series 2005A, 5.250%, 6/01/20 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">250,842</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.125%, 1/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">163,146</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">230,928</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port District Project, Series 2012, 5.000%, 1/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">340,881</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">190</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.625%, 1/01/52 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">216,951</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">80</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000A &amp; 2000B, 5.625%, 11/15/30 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/24 at 101.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">91,948</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">325</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2015E, 5.000%, 1/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">375,908</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">765</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Series 2009E, 5.250%, 1/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">839,641</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">315</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">368,411</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,575</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,878,656</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">U.S. Guaranteed &#8211; 4.6% (4.2% of Total Investments) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">140</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Cigarette Tax Revenue Bonds, Series 2004, 5.500%, 6/15/16 &#8211; RAAI Insured (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aaa</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">140,909</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Series 2006B, 5.000%, 7/01/36 (Pre-refunded 7/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211; (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,007,810</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,140</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,148,719</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="de69067a15e742f7a1f636535e6580e0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="370ef6a6fd02462695fe77f9bc5a65f9" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utilities &#8211; 2.5% (2.3% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Essex County Improvement Authority, New Jersey, Solid Waste Disposal Revenue Bonds, Covanta Project, Series 2015, 5.250%, 7/01/45 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">275,918</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Industrial Pollution Control Financing Authority of Cape May County, New Jersey, Pollution Control Revenue Refunding Bonds, 1991 Series A (Atlantic City Electric Company Project), 6.800%, 3/01/21 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">362,958</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">570</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">638,876</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,065</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Municipal Bonds (cost $24,264,712)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,931,953</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">COMMON STOCKS &#8211; 2.0% (1.9% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Airlines &#8211; 2.0% (1.9% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,008</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">American Airlines Group Inc., (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">520,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Common Stocks (cost $207,228)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">520,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Investments (cost $24,471,940)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">27,452,581</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Floating Rate Obligations &#8211; (5.9)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(1,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other Assets Less Liabilities &#8211; (2.6)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(655,609</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net Assets Applicable to Common Shares &#8211; 100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">25,296,972</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="2c6708f058ac42ed8ae50fde4be54fd9" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 14px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor's Group ("Standard &amp; Poor's"), Moody's Investors Service, Inc. ("Moody's") or Fitch, Inc. ("Fitch") rating. Ratings below BBB by Standard &amp; Poor's, Baa by Moody's or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">On November 28, 2011, AMR Corp. ("AMR"), the parent company of American Airlines Group, Inc. ("AAL") filed for federal bankruptcy protection. On December 9, 2013, AMR emerged from federal bankruptcy with the acceptance of its reorganization plan by the bankruptcy court. Under the settlement agreement established to meet AMR's unsecured bond obligations, the bondholders, including the Fund, received a distribution of AAL preferred stock which was converted to AAL common stock over a 120-day period. Every 30 days, a quarter of the preferred stock was converted to AAL common stock based on the 5-day volume-weighted average price and the amount of preferred shares tendered during the optional preferred conversion period.</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Escrowed to maturity.</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Inverse floating rate investment.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(UB)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 9.54%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(WI/DD)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.46%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">&#160;</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">37</div>
</td>
</tr>
</table>

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<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

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<tr>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63.72%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 23%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 23%">&#160;</td>
</tr>

<tr style="HEIGHT: 11px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63.72%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio of Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 23%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">LONG-TERM INVESTMENTS &#8211; 145.6% (100.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">MUNICIPAL BONDS &#8211; 145.6% (100.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Consumer Staples &#8211; 0.4% (0.3% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Procter &amp; Gamble Paper Project, Series 2001, 5.375%, 3/01/31 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,614,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Education and Civic Organizations &#8211; 19.4% (13.3% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,420</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Higher Education Building Authority, Pennsylvania, College Revenue Refunding Bonds, Robert Morris College, Series 1998A, 6.000%, 5/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,703,716</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,020</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carnegie Mellon University, Series 2013, 5.000%, 3/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,073,196</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,865</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Duquesne University, Series 2013A, 3.500%, 3/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,911,184</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,440</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chester County Industrial Development Authority, Pennsylvania, Avon Grove Charter School Revenue Bonds, Series 2007A, 6.375%, 12/15/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,516,608</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,020</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dallas Area Municipal Authority, Pennsylvania, Revenue Bonds, Misericordia University, Series 2014, 5.000%, 5/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,105,711</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware County Authority, Pennsylvania, General Revenue Bonds, Eastern University, Series 2006, 4.500%, 10/01/27 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">755,602</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Erie Higher Education Building Authority, Pennsylvania, College Revenue Bonds, Gannon University, Series 2007-GG3:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,855</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/32 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,892,211</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/35 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">509,085</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Indiana County Industrial Development Authority, Pennsylvania, Revenue Bonds, Student Cooperative Association Inc./Indiana University of Pennsylvania &#8211; Student Union Project, Series 1999B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">815</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/16 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">808,602</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">815</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/17 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">789,939</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">815</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/18 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">770,216</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">815</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/19 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750,599</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lycoming County Authority, Pennsylvania, Revenue Bonds, Pennsylvania College of Technology, Series 2012, 5.000%, 5/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,954,341</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,155</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Arcadia University, Series 2010, 5.625%, 4/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,324,685</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">835</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Wilmington, Pennsylvania, Revenue, Westminster College, Series 2007G, 5.125%, <br>
 5/01/33 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">861,586</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,465</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Holy Family University, Series 2013A, 6.500%, 9/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,606,783</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Higher Educational Facilities Authority, Bryn Mawr College Revenue Bonds, Refunding Series 2014:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,545</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,031,833</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,080</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,458,477</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, General Revenue Bonds, State System of Higher Education, Series 2008AH, 5.000%, 6/15/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,601,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Philadelphia University Refunding Revenue Bonds, Refunding Series 2013, 5.000%, 6/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,310,568</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, AICUP Financing <br>
 Program-Mount Aloysius College Project, Series 2011R-1, 5.000%, 11/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,694,192</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Allegheny College, Series 2006, 4.750%, 5/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,234,933</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="24941450eff848608d2b2bcc2a1f1084" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="71f46987a2794e81909ff63a9dc1522d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Education and Civic Organizations </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Drexel University, Series 2007A, 5.000%, 5/01/37 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,568,880</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Drexel University, Series 2011A, 5.250%, 5/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,734,990</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Gwynedd Mercy College, Series 2012-KK1, 5.375%, 5/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,090,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">320</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, LaSalle University, Series 2012, 4.000%, 5/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">332,256</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Temple University, First Series of 2012, 5.000%, 4/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,281,880</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson University, Refunding Series 2015A, 5.250%, 9/01/50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,295,139</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson University, Series 2010, 5.000%, 3/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,211,260</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson University, Series 2012, 5.000%, 3/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">865,458</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of the Sciences in Philadelphia, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,030</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 11/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,079,533</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,911,245</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of the Sciences in Philadelphia, Series 2015A, 5.000%, 11/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,515,906</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,540</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2013A, 5.500%, 7/15/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,767,473</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,005</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania State University, General Revenue Bonds, Series 2010, 5.000%, 3/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,410,945</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania State University, General Revenue Bonds, Series 2007A, 4.500%, 8/15/36 (UB)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,703,138</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">554</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Leadership Learning Partners, Series 2005A, 5.375%, 7/01/36 (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia Performing Arts Charter School, Series 2013, 6.750%, 6/15/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,820,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Richard Allen Preparatory Charter School, Series 2006, 6.250%, 5/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500,520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">State Public School Building Authority, Pennsylvania, College Revenue Bonds, Northampton County Area Community College, Series 2011, 5.500%, 3/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,823,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wilkes-Barre Finance Authority, Pennsylvania, Revenue Bonds, University of Scranton, Series 2010, 5.000%, 11/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,241,735</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Wilkes-Barre Finance Authority, Pennsylvania, Revenue Bonds, University of Scranton, Series 2015A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,890</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,222,829</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">866,288</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 11/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">788,818</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">107,749</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">117,697,896</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Health Care &#8211; 27.7% (19.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Ohio Valley General Hospital, Series 2005A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,170</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,170,759</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,160</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 4/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,160,874</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Beaver County Hospital Authority, Pennsylvania, Revenue Bonds, Heritage Valley Health System, Inc., Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,635,159</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,910</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,189,968</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,283,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3e95e71bae204d329816ffe1167eadd6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">39</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="89c45a087e30460fbfa0b42ec9086681" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="80bd5a3c6969433a9dde99f5c986e33a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Health Care </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Reading Hospital and Medical Center Project, Series 2012A, 4.500%, 11/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,514,137</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Bradford Progress Authority, Pennsylvania, Revenue Bonds, Guthrie Health, Refunding Series 2011, 5.375%, 12/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,587,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Centre County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Mount Nittany Medical Center Project, Series 2016A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">705</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">821,579</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,719,868</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,595</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chester County Health and Educational Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010A, 5.000%, 5/15/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,771,471</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System Project, Series 2012A, 5.000%, 6/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,825,102</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Doylestown Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Series 2013A, 5.000%, 7/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,664,640</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Saint Vincent Health Center Project, Series 2010A, 7.000%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,201,660</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">850</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie County Hospital Authority, Pennsylvania, Revenue Bonds, Hamot Health Foundation, Series 2007, 5.000%, 11/01/37 &#8211; CIFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">888,411</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,840</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Franklin County Industrial Development Authority, Pennsylvania, Revenue Bonds, Chambersburg Hospital Project, Series 2010, 5.375%, 7/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,763,879</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fulton County, Pennsylvania, Industrial Development Authority Hospital Revenue Bonds, Fulton County Medical Center Project, Series 2006, 5.900%, 7/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">501,310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,555</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Geisinger Authority, Montour County, Pennsylvania, Health System Revenue Bonds, Geisinger Health System, Series 2014A, 5.000%, 6/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,240,163</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Indiana Regional Medical Center, Series 2014A, 6.000%, 6/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,565,307</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Revenue Bonds, University of Pennsylvania Health System, Refunding Series 2016B, 5.000%, 8/15/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,951,758</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Revenue Bonds, University of Pennsylvania Health System, Series 2016A, 5.000%, 8/15/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,551,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,660</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Lehigh Valley Health Network, Series 2008A, 5.000%, 7/01/33 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,142,503</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,565</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Lehigh Valley Health Network, Series 2012B, 4.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,647,773</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lehigh County General Purpose Authority, Pennsylvania, Revenue Bonds, Good Shepherd Group, Series 2007:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,850</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/30 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,389,780</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,180</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/37 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,304,304</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County General Purpose Authority, Pennsylvania, Revenue Bonds, Good Shepherd Group, Series 2012, 4.000%, 11/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,763,944</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lycoming County Authority, Pennsylvania, Health System Revenue Bonds, Susquehanna Health System Project, Series 2009A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,734,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,029,562</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">365</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 1/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">392,076</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,282,030</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,660</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center, Series 2007, 5.125%, 1/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,699,043</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,730</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Higher Education and Health Authority, Pennsylvania, Hospital Revenue Bonds, Abington Memorial Hospital Obligated Group, Series 2012A, 5.000%, 6/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,234,408</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="607193acff344453b36358bdfbc4dd12" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="c3073f695e0548b3a78989eb7765dfef" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Health Care </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">925</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, Health Facilities Revenue Bonds, Jefferson Health System, Series 2012A, 5.000%, 10/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,024,678</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A, 5.250%, 1/15/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,373,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Northampton County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Saint Lukes Hospital Project, Series 2008A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 8/15/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,343,952</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,172,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Revenue Bonds, University of Pittsburgh Medical Center Health System, Series 2013A, 5.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,529,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of Pennsylvania Health System, Series 2012A, 5.000%, 8/15/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,483,346</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,440</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Children's Hospital of Philadelphia, Tender Option Bond Trust 2015-XF0114, 12.838%, 7/01/19 (IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,378,107</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,115,418</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pocono Mountains Industrial Park Authority, Pennsylvania, Hospital Revenue Bonds, Saint Luke's Hospital -Monroe Project, Series 2015A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,399,870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 8/15/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,360,320</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">640</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Mary Hospital Authority, Pennsylvania, Health System Revenue Bonds, Catholic Health East, Series 2010A, 5.000%, 11/15/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">712,979</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southcentral Pennsylvania General Authority, Revenue Bonds, Wellspan Health Obligated Group, Refunding Series 2014A, 5.000%, 6/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,428,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community Hospital Project, Refunding and Improvement Series 2011:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 8/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,748,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 8/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,990,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,470</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, The Washington Hospital Project, Series 2013A, 5.000%, 7/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,912,321</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">West Shore Area Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds, Holy Spirit Hospital of the Sisters of Christian Charity Project, Series 2011:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">325</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 1/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">389,360</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,555</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 1/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,455,797</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">West Shore Area Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds, Holy Spirit Hospital of the Sisters of Christian Charity, Series 2011B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,635</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 1/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,952,239</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,970</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 1/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,323,674</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">575</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Westmoreland County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Excela Health Project, Series 2010A, 5.125%, 7/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">632,868</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150,810</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">168,354,357</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Multifamily &#8211; 1.5% (1.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">160</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chester County Industrial Development Authority, Pennsylvania, Student Housing Revenue Bonds, University Student Housing, LLC Project at West Chester University Series 2013A, 5.000%, 8/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">170,584</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services <br>
 Inc &#8211; Student Housing Project at Millersville University, Series 2014, 5.000%, 7/01/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,324,352</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services <br>
 Inc &#8211; Student Housing Project at Millersville University, Series 2015, 5.000%, 7/01/47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,049,492</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 6.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,406,366</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.08%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="88250b18ee9a4940a3707cdcd03ea972" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">41</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="9a231a421b644e229c6111cd61a40ef3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="5e9ecc186e734d9d93bcfcf8bb2832f3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Housing/Multifamily </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Foundation for Student Housing at Indiana University, Project Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,144,610</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">843,352</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Shippensburg University Student Services, Inc. Student Housing Project at Shippensburg University of Pennsylvania, Series 2012, 5.000%, 10/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">391,638</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority for Industrial Development, Pennsylvania, Multifamily Housing Revenue Bonds, Presbyterian Homes Germantown &#8211; Morrisville Project, Series 2005A, 5.625%, 7/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,794,954</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,475</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Multifamily</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,125,348</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Single Family &#8211; 6.8% (4.7% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,355</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2007-97A, 4.600%, 10/01/27 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,368,076</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2012-114:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,595</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.300%, 10/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,721,454</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,265</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.650%, 10/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,322,146</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.700%, 10/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,404,903</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2015-116B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,330</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.950%, 10/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,387,038</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,315</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 4/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,400,825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2015-117B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,290</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.900%, 10/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,431,602</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,465</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.050%, 10/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,553,987</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,490</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.150%, 10/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,654,693</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,185</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2015-118B, 4.100%, 10/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,490,362</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,045</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-119, 3.500%, 10/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,077,924</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,050</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Tender Option Bond Trust 2015-XF0066, 13.184%, 4/01/29 (Alternative Minimum Tax) (IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,352,148</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2007-97A, 4.600%, 10/01/27 (Alternative Minimum Tax) (UB)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,478,691</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Tender Option Bonds Trust 2015-XF0109, 9.794%, 4/01/33 (IF) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">678,714</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">39,740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Single Family</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">41,322,563</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Industrials &#8211; 1.1% (0.7% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Industrial Development Authority, Pennsylvania, Revenue Bonds, United States Steel Corporation, Series 2005, 5.500%, 11/01/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">755,722</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, Amtrak Project, Series 2012A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,495</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/23 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,903,107</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">545</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/27 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">616,662</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/41 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,190,240</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,790</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Industrials</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,465,731</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Care &#8211; 5.0% (3.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Bucks County Industrial Development Authority, Pennsylvania, Revenue Bonds, Lutheran Community at Telford Center, Series 2007:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">470</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 1/01/27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">474,780</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 1/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">765,586</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">230</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chester County Health and Education Facilities Authority, Pennsylvania, Revenue Bonds, Simpson Senior Services Project, Series 2015A, 5.000%, 12/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">237,059</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.375%, 1/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">567,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="88baea8474b74fa380701731deed22cd" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 16px">
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="e2813642f20840498fe8f6bdda7b4eb6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-Term Care </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,380</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 1/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,471,630</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,363,077</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,030</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware County Authority, Pennsylvania, Revenue Bonds, Elwyn, Inc. Project, Series 2010, 5.000%, 6/01/21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,101,314</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">640</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Masonic Villages Project, Series 2015, 5.000%, 11/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">738,989</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">530</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Saint Anne's Retirement Community, Inc., Series 2012, 5.000%, 4/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">552,859</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Revenue Bonds, Brethren Village Project, Series 2008A, 6.375%, 7/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">380,863</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Revenue Bonds, Landis Homes Retirement Community Project, Refunding Series 2015A, 5.000%, 7/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,323,937</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lancaster Industrial Development Authority, Pennsylvania, Revenue Bonds, Garden Spot Village Project, Series 2013:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 5/01/28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,124,960</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,665</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 5/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,892,089</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Langhorne Manor Boro Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Woods Services Project, Series 2013, 4.000%, 11/15/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,520,820</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, Revenue Refunding Bonds, ACTS Retirement-Life Communities, Inc., Series 2012, 5.000%, 11/15/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,361,482</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia Corporation for the Aging Project, Series 2001B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,420</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/23 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,420,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/26 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,523,314</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/31 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,801,693</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,025</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,622,002</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Materials &#8211; 1.1% (0.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,799,762</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/General &#8211; 29.3% (20.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,930</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County, Pennsylvania, General Obligation Bonds, Series 2011C-65, 5.375%, 5/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,597,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Allegheny County, Pennsylvania, General Obligation Bonds, Series 2013C-72:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,780</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,373,919</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,417,940</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Allegheny County, Pennsylvania, General Obligation Bonds, Series 2014C-74:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,069,917</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,285</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,513,422</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County, Pennsylvania, General Obligation Bonds, Series C69-C70 of 2012, 5.000%, 12/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,977,761</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,025</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bethel Park School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2009, 5.000%, 8/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,736,311</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,950</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Boyertown Area School District, Berks and Montgomery Counties, Pennsylvania, General Obligation Bonds, Series 2015, 5.000%, 10/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,257,378</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bristol Township School District, Bucks County, Pennsylvania, General Obligation Bonds, Series 2013, 5.250%, 6/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,459,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Canon-McMillan School District, Washington County, Pennsylvania, General Obligation Bonds, Series 2014D:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,505,170</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,075</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/38 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,254,224</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,281,566</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="6408079256a948b1bf8245fe4d2358be" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">43</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="347c352199e0462793ded2faa08f1bda" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="0d4f4a6602ed43acbd7c76104e1ff39d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Obligation/General </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Centre County, Pennsylvania, General Obligation Bonds, Series 2012B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">340,237</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,430</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,562,518</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">915</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">994,587</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cranberry Township, Pennsylvania, General Obligation Bonds, Refunding Series 2015, 3.250%, 10/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">682,988</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware Valley Regional Finance Authority, Pennsylvania, Local Government Revenue Bonds, Series 2002, 5.750%, 7/01/17 (UB)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,565,300</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,450</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie City School District, Erie County, Pennsylvania, General Obligation Bonds, Series 2000, 0.000%, 9/01/30 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,304,983</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,680</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gateway School District, Allegheny County, Pennsylvania, General Obligation Bonds, Refunding Series 2012, 4.000%, 10/15/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,191,621</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehighton Area School District, Carbon County, Pennsylvania, General Obligation Bonds, Limited Tax Series 2015A, 5.000%, 11/15/43 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,091,458</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,260</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Luzerne County, Pennsylvania, General Obligation Bonds, Series 2003C, 5.250%, 12/15/16 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,289,282</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Luzerne County, Pennsylvania, General Obligation Bonds, Series 2008B, 5.000%, 12/15/27 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,137,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">North Allegheny School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,011,350</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,791,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,430,910</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol Region Parking System, Junior Insured Series 2013C, 5.500%, 1/01/30 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,198,260</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of Philadelphia, Series 2006B, 5.000%, 6/01/33 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,105,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,665</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania State, General Obligation Bonds, Tender Option Bonds 2015-XF0084, 11.960%, 9/01/16 (IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,625,411</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,925</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2007A, 5.000%, 6/01/34 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,643,197</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,345</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011, 6.500%, 8/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,029,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">745</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2014A, 5.000%, 9/01/25 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">892,786</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,590</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,103,778</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,790</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,085,939</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,925</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2006B, 5.250%, 9/01/16 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,971,040</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pocono Mountain School District, Monroe County, Pennsylvania, General Obligation Bonds, Refunding Series 2016:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,010</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 9/01/32 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,040,987</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,035</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.300%, 9/01/34 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,100,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Radnor Township School District, Delaware County, Pennsylvania, General Obligation Bonds, Series 2012, 3.000%, 2/15/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,519,740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Radnor Township, Pennsylvania, General Obligation Bonds, Series 2012, 4.000%, 11/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,077,080</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,440</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reading School District, Berks County, Pennsylvania, General Obligation Bonds, Series 2003B, 0.000%, 1/15/32 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,931,153</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scranton, Pennsylvania, General Obligation Bonds, Series 2012A, 8.500%, 9/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,189,596</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scranton, Pennsylvania, General Obligation Bonds, Series 2012C, 7.250%, 9/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,162,465</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Park School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2014, 3.375%, 8/01/32 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,181,039</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="78c3cd3c1b1942b79665bcc25ab020d7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3b3a20a9629e4848aec1c31863445ee0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Obligation/General </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,890</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">State College Area School District, Centre County, Pennsylvania, General Obligation Bonds, Refunding Series 2015B, 5.000%, 5/15/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,319,370</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">State Public School Building Authority, Pennsylvania, School Revenue Bonds, Philadelphia School District Project, Series 2003, 5.500%, 6/01/28 &#8211; AGM Insured (UB) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,722,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">163,665</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">177,737,291</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/Limited &#8211; 11.6% (8.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,845</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Redevelopment Authority, Pennsylvania, TIF Revenue Bonds, Pittsburg Mills Project, Series 2004, 5.600%, 7/01/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,845,092</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,475</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, Series 2012A, 5.000%, 5/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,598,472</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Government of Guam, Business Privilege Tax Bonds, Series 2011A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,670</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,887,818</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">655</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 1/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">727,253</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Harrisburg Redevelopment Authority, Dauphin County, Pennsylvania, Guaranteed Revenue Bonds, Series 1998B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 5/01/22 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/16 at 75.56</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,307,355</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/22 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/16 at 73.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,002,055</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 5/01/23 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/16 at 71.71</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,945,130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,760</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe County Industrial Development Authority, Pennsylvania, Special Obligation Revenue Bonds, Tobyhanna Township Project, Series 2014, 6.875%, 7/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,864,139</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012A, 5.000%, 7/01/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aaa</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,039,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,755</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,039,942</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,355,208</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,180</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2012A, 5.000%, 12/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,680,214</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2013B-1, 5.250%, 12/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,144,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2014A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/37 (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,279,133</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/44 (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,414,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue, Series 2011B, 5.000%, 12/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,498,520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue Bonds, Senior Lien Series 2003A, 5.000%, 12/01/32 &#8211; NPFG Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,621,971</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Registration Fee Revenue Bonds, Series 2005A, 5.250%, 7/15/18 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,409,330</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,530</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority For Industrial Development, Pennsylvania, Revenue Bonds, Cultural and Commercial Corridors Program, Refunding Series 2016A, 5.000%, 12/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,536,958</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,820</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room Excise Tax Revenue Bonds, Refunding Series 2012, 5.000%, 2/01/26 &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,420,580</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,225</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%, 7/01/29 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">CC</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,338,357</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington County Redevelopment Authority, Pennsylvania, Tanger Outlet Victory Center Tax Increment Bonds, Series 2006A, 5.450%, 7/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">460,983</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">67,495</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">70,417,230</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Transportation &#8211; 9.3% (6.4% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 5.000%, 1/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,691,115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="bd2898c0abd3443a82083925bd307cec" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">45</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="f2abdbf7b12e4bb49d96e3f89f6529d4" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b69ede68a3d240829ada53cf4c7bb8e0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Transportation </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port District Project, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,451,331</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,425</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,808,271</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,310</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,654,999</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">205</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">235,223</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,980</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol Region Parking System, Series 2013A, 5.250%, 1/01/44 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,568,921</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 0.000%, 12/01/38 (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/27 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,627,932</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2014C, 5.000%, 12/01/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,453,690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,895</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015B, 5.000%, 12/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,443,963</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,475</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Lien, Refunding Series 2010B-1, 5.000%, 12/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,735,593</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 0.000%, 6/01/33 &#8211; AGM Insured (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,562,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,865</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 0.000%, 6/01/33 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,109,707</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,080</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scranton Parking Authority, Pennsylvania, Guaranteed Parking Revenue Bonds, Series 2004, 5.000%, 9/15/33 &#8211; FGIC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,080,062</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scranton Parking Authority, Pennsylvania, Guaranteed Parking Revenue Bonds, Series 2007, 5.250%, 6/01/39 &#8211; RAAI Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,257,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">49,135</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">56,680,655</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">U.S. Guaranteed &#8211; 13.9% (9.5% of Total Investments) (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allentown Area Hospital Authority, Pennsylvania, Revenue Bonds, Sacred Heart Hospital, Series 2005, 6.000%, 11/15/16 (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,741</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Centre County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Mount Nittany Medical Center Project, Series 2011, 7.000%, 11/15/46 (Pre-refunded 11/15/21)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,386,662</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.375%, 1/01/39 (Pre-refunded 1/01/19)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,148,360</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,505</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries, Series 2007, 5.000%, 1/01/36 (Pre-refunded 1/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+ (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,691,498</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2006:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,910</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/23 (Pre-refunded 8/01/16) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+ (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,955,356</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,920</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/24 (Pre-refunded 8/01/16) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+ (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,942,272</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Heidelberg, Lebanon County, Pennsylvania, Guaranteed Sewer Revenue Bonds, Series 2011, 5.125%, 12/01/46 (Pre-refunded 12/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,925,813</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Health System Revenue Bonds, Lancaster General Hospital Project, Tender Option Bond Trust 2015-XF0064, 12.847%, 1/01/36 (Pre-refunded 1/01/22) (IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,552,619</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Masonic Homes Project, Series 2006:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/26 (Pre-refunded 11/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,583,387</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,565</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/31 (Pre-refunded 11/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,598,710</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,050</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/36 (Pre-refunded 11/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,072,617</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,775</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, The Lancaster General Hospital Project, Series 2007A, 5.000%, 3/15/26 (Pre-refunded 3/15/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,919,507</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lower Merion School District, Montgomery County, Pennsylvania, General Obligation Bonds, Series 2007:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/23 (Pre-refunded 9/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">211,674</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/23 (Pre-refunded 9/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aaa</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">63,502</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38 (Pre-refunded 8/01/20)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,319,413</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="f356e74430c44f838faf08509dcab462" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="2f7492b4a23d4da889639ced5f210655" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">U.S. Guaranteed (7) </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,210</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 (Pre-refunded 10/15/19)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,813,630</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Slippery Rock University Foundation Inc., Series 2007A, 5.000%, 7/01/39 (Pre-refunded 7/01/17) &#8211; SYNCORA GTY Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,254,450</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,820</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/22 (Pre-refunded 6/01/16) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,835,586</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/24 (Pre-refunded 6/01/16) &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,727,336</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,060</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania, General Obligation Bonds, First Series 2006, 5.000%, 10/01/18 (Pre-refunded 10/01/16)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,156,342</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Franklin Towne Charter High School, Series 2006A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/27 (Pre-refunded 1/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa1 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,597,042</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 1/01/32 (Pre-refunded 1/01/17)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa1 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,701,447</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">385</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, <br>
 5/15/20 &#8211; NPFG Insured (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211; (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">432,586</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,165</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010B, 5.000%, 5/15/40 (Pre-refunded 5/15/20)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,290,622</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Presbyterian Medical Center of Philadelphia, Series 1993, 6.650%, 12/01/19 (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+ (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,367,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,470</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 &#8211; NPFG Insured (ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3 (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,677,255</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,613</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Fork Municipal Authority, Pennsylvania, Hospital Revenue Bonds, Conemaugh Valley Memorial Hospital, Series 2010, 5.500%, 7/01/29 (Pre-refunded 7/01/20)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (7)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,909,953</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">76,283</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">84,160,630</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utilities &#8211; 8.1% (5.5% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (Mandatory put 4/02/18)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,553,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware County Industrial Development Authority, Pennsylvania, Revenue Bonds, Covanta Project, Refunding Series 2015A, 5.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,398,480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Luzerne County Industrial Development Authority, Pennsylvania, Water Facility Revenue Refunding Bonds, Pennsylvania-American Water Company, Series 2009, 5.500%, 12/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,524,200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,151,624</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Water Facilities Revenue Bonds, Aqua Pennsylvania, Inc. Project, Series 2009A, 5.000%, 10/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,011,875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Water Facilities Revenue Bonds, Aqua Pennsylvania, Inc. Project, Series 2009B, 5.000%, 11/15/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,581,450</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,735</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Thirteenth Series 2015, 5.000%, 8/01/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,265,973</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,885</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Seventh Series, 2007, 5.000%, <br>
 10/01/37 &#8211; AMBAC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13,544,712</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">46,090</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">49,031,564</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Water and Sewer &#8211; 10.4% (7.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,325</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,869,469</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,320</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,818,896</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Bucks County Water and Sewer Authority, Pennsylvania, Revenue Bonds, Tender Option Bond Trust 2015-XF0123:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,665</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">12.249%, 12/01/19 &#8211; AGM Insured (IF) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,514,899</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">12.238%, 12/01/19 &#8211; AGM Insured (IF) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,185,063</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="caf905954b32406aa51b20c64e5b7592" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 16px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">47</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="6016d1c4258a43e1a1541aed3d1ce038" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 24.25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="8744b229342c4986b3bebe28f29d47a2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Water and Sewer </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Delaware County Regional Water Quality Control Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,110</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,296,458</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,215</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 5/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,374,989</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Easton, Pennsylvania, Area Joint Sewer Authority, Water and Sewer Revenue Bonds, Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,090</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 12/01/32 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,117,806</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">705</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 12/01/33 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">719,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,155</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.200%, 12/01/34 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,183,182</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Findlay Township Municipal Authority, Allegheny County, Pennsylvania, Revenue Bonds, Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">390</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 12/15/32 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">388,877</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">665</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.375%, 12/15/35 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">665,618</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Capital Appreciation Series 2013B:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,295</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,823,966</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,420</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,224,940</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Series 2013A, 5.125%, 12/01/47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,370,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Revenue Bonds, Philadelphia Biosolids Facility Project, Series 2009, 6.250%, 1/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,217,326</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,560</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2011A, 5.000%, 1/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,474,398</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2013A, 5.125%, 1/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,842,125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh Water and Sewer Authority, Pennsylvania, Water and Sewer System Revenue Bonds, First Lien Series 2013B, 5.250%, 9/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,832,650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,840</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Robinson Township Municipal Authority, Allegheny County, Pennsylvania, Water and Sewer Revenue Bonds, Series 2014, 4.000%, 5/15/40 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,873,682</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,930</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Westmoreland County Municipal Authority, Pennsylvania, Municipal Service Revenue Bonds, Tender Option Bond Trust 1171, 16.030%, 8/15/37 (IF) (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,067,658</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60,610</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Water and Sewer</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">62,861,102</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">813,322</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Investments (cost $808,608,618)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">883,890,751</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Floating Rate Obligations &#8211; (4.8)%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(29,070,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; FONT-WEIGHT: bold; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">)</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate MuniFund Term Preferred Shares, at Liquidation Preference &#8211; (7.9)% (8)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">(48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff"><font style="FONT-WEIGHT: bold">)</font>&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate Demand Preferred Shares, at Liquidation Preference &#8211; (35.8)% (9)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">(217,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff"><font style="FONT-WEIGHT: bold">)</font>&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other Assets Less Liabilities &#8211; 2.9%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">17,919,495</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net Assets Applicable to Common Shares &#8211; 100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">607,240,246</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
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<div style="FONT-FAMILY: Arial"><br>
</div>

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<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">48</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

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</div>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">&#160;</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor's Group ("Standard &amp; Poor's"), Moody's Investors Service, Inc. ("Moody's") or Fitch, Inc. ("Fitch") rating. Ratings below BBB by Standard &amp; Poor's, Baa by Moody's or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">As of, 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's Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund's records.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Step-up coupon. The rate shown is the coupon as of the end of the reporting period.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(7)</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(8)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Variable Rate MuniFund Term Preferred Shares, at Liquidation Preference as a percentage of Total Investments is 5.4%.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(9)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Variable Rate Demand Preferred Shares, at Liquidation Preference as a percentage of Total Investments is 24.6%.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(ETM)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Escrowed to maturity.</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Inverse floating rate investment.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(UB)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
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<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">&#160;</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">49</div>
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<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 71%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15.76%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 71%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Municipal Value Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15.76%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 71%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio of Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15.76%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
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</table>

<div style="FONT-FAMILY: Arial"><br>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">LONG-TERM INVESTMENTS &#8211; 98.2% (100.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">MUNICIPAL BONDS &#8211; 98.2% (100.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Consumer Staples &#8211; 3.9% (3.9% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">635</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">781,317</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Education and Civic Organizations &#8211; 5.8% (5.9% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dallas Area Municipal Authority, Pennsylvania, Revenue Bonds, Misericordia University, Series 2014, 5.000%, 5/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,521</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County General Purpose Authority, Pennsylvania, College Revenue Bonds, Muhlenberg College Project, Series 2009, 5.250%, 2/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">536,095</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Holy Family University, Series 2013A, 6.500%, 9/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">38,387</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Philadelphia University Refunding Revenue Bonds, Refunding Series 2013, 5.000%, 6/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">131,605</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson University, Series 2012, 5.000%, 3/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22,775</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of the Sciences in Philadelphia, Series 2012:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 11/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,683</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">68,529</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2013A, 5.500%, 7/15/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">86,078</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia Performing Arts Charter School, Series 2013, 6.750%, 6/15/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">107,114</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wilkes-Barre Finance Authority, Pennsylvania, Revenue Bonds, University of Scranton, Series 2010, 5.000%, 11/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,885</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,075</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Education and Civic Organizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,172,672</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Health Care &#8211; 17.3% (17.6% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">650</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2009A, 5.500%, 8/15/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">734,376</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Centre County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Mount Nittany Medical Center Project, Series 2016A, 5.000%, 11/15/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">115,816</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System Project, Series 2012A, 5.000%, 6/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">39,376</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Geisinger Authority, Montour County, Pennsylvania, Health System Revenue Bonds, Geisinger Health System, Series 2009A, 5.250%, 6/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">660,390</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">210</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Revenue Bonds, University of Pennsylvania Health System, Refunding Series 2016B, 5.000%, 8/15/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">247,588</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Revenue Bonds, University of Pennsylvania Health System, Series 2016A, 5.000%, 8/15/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">177,562</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lycoming County Authority, Pennsylvania, Health System Revenue Bonds, Susquehanna Health System Project, Series 2009A, 5.750%, 7/01/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,206</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Higher Education and Health Authority, Pennsylvania, Hospital Revenue Bonds, Abington Memorial Hospital Obligated Group, Series 2009A, 5.125%, 6/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,455</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A, 5.250%, 1/15/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">223,288</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">110,009</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3b4a07b5ca934e60a9b1f2ccf5d98ec6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="6327b0443e6b4c4e9b3563d408e1fd42" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Health Care </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">710</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">St. Mary Hospital Authority, Pennsylvania, Health System Revenue Bonds, Catholic Health East, Series 2009D, 6.250%, 11/15/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">807,717</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Shore Area Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds, Holy Spirit Hospital of the Sisters of Christian Charity Project, Series 2011, 6.250%, 1/01/31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/21 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">119,803</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Shore Area Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds, Holy Spirit Hospital of the Sisters of Christian Charity, Series 2011B, 5.750%, 1/01/41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">117,953</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,060</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Health Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,471,539</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Multifamily &#8211; 5.2% (5.3% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chester County Industrial Development Authority, Pennsylvania, Student Housing Revenue Bonds, University Student Housing, LLC Project at West Chester University Series 2013A, 5.000%, 8/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,992</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services <br>
 Inc &#8211; Student Housing Project at Millersville University, Series 2014, 5.000%, 7/01/46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,170</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services <br>
 Inc &#8211; Student Housing Project at Millersville University, Series 2015, 5.000%, 7/01/47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">107,868</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 6.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">54,091</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh Urban Redevelopment Authority, Pennsylvania, Multifamily Housing Revenue Bonds, Eva P. Mithcell Residence Project, Series 2009, 5.100%, 10/20/44</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">840,728</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">995</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Multifamily</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,050,849</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Housing/Single Family &#8211; 3.6% (3.7% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2012-114:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.300%, 10/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">56,514</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.650%, 10/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,631</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.700%, 10/01/42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31,368</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">130</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2015-116B, 4.000%, 4/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">133,366</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">315</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2015-118B, 4.100%, 10/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">328,387</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-119, 3.500%, 10/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55,885</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Tender Option Bond Trust 2015-XF0066, 13.184%, 4/01/29 (Alternative Minimum Tax) (IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">64,388</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Tender Option Bond Trust 2015-XF0109, 9.794%, 4/01/33 (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">28,280</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">685</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Housing/Single Family</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">723,819</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Care &#8211; 6.0% (6.2% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 1/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">122,510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">135</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">149,654</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Masonic Villages Project, Series 2015, 5.000%, 11/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">23,093</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster Industrial Development Authority, Pennsylvania, Revenue Bonds, Garden Spot Village Project, Series 2013, 5.750%, 5/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">62,501</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, Retirement Communities Revenue Bonds, ACTS Retirement &#8211; Life Communities, Inc. Obligated Group, Series 2009A-1, 6.250%, 11/15/29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">857,565</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,080</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Care</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,215,323</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="26b6e316321d473f9674d0d5fef201d2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">51</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="dbd5a76449394ea5ba3e001420167f3f" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 56%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nuveen Pennsylvania Municipal Value Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 30.96%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 56%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio of Investments </font>(continued)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 30.96%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="26d9f01a82bc4dba8440745278bd49c4" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Materials &#8211; 0.8% (0.8% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">158,012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/General &#8211; 10.4% (10.6% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County, Pennsylvania, General Obligation Bonds, Series 2013C-72, 5.250%, 12/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">267,001</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">700</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bethel Park School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2009, 5.100%, 8/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">786,716</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Boyertown Area School District, Berks and Montgomery Counties, Pennsylvania, General Obligation Bonds, Series 2015, 5.000%, 10/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">52,093</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Canon-McMillan School District, Washington County, Pennsylvania, General Obligation Bonds, Series 2014D, 5.000%, 12/15/39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">133,982</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehighton Area School District, Carbon County, Pennsylvania, General Obligation Bonds, Limited Tax Series 2015A, 5.000%, 11/15/43 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">222,142</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2014A, 5.000%, 9/01/25 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,976</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">390</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012B, 5.000%, 9/01/26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">464,435</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pocono Mountain School District, Monroe County, Pennsylvania, General Obligation Bonds, Refunding Series 2016:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.125%, 9/01/32 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,767</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.300%, 9/01/34 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Radnor Township School District, Delaware County, Pennsylvania, General Obligation Bonds, Series 2012, 3.000%, 2/15/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Aa1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35,489</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scranton, Pennsylvania, General Obligation Bonds, Series 2012A, 8.500%, 9/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,318</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scranton, Pennsylvania, General Obligation Bonds, Series 2012C, 7.250%, 9/01/22</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,718</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/General</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,093,757</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tax Obligation/Limited &#8211; 13.0% (13.2% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, Series 2012A, 5.000%, 5/01/35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27,093</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">120</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.250%, 1/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/22 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">135,652</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">550</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.750%, 12/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">616,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">105</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe County Industrial Development Authority, Pennsylvania, Special Obligation Revenue Bonds, Tobyhanna Township Project, Series 2014, 6.875%, 7/01/33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">111,213</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">580</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">674,169</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">111,672</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2014A, 0.000%, 12/01/37 (5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">86,005</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2009, 6.500%, 4/01/34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">849,270</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,330</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tax Obligation/Limited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,611,074</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Transportation &#8211; 6.0% (6.1% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">240</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 5.000%, 1/01/40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">270,082</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">140</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol Region Parking System, Series 2013A, 5.250%, 1/01/44 &#8211; AGM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/24 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">160,716</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 6/30/42 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6/26 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">196,653</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">460</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015B, 5.000%, 12/01/45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">532,008</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Lien, Refunding Series 2010B-1, 5.000%, 12/01/37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">55,265</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,065</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Transportation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.02%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,214,724</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="fc0d70984a4c499396d3a97978f5305a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">52</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="f5ccb2c777f14df7bd70a8beade3ef5b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Optional Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount (000)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Description (1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Provisions (2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ratings (3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">U.S. Guaranteed &#8211; 10.3% (10.5% of Total Investments) (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">675</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann College, Series 2008, 6.000%, 10/01/30 (Pre-refunded 10/01/18)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/18 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">BBB (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">759,463</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">725</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harrisburg Parking Authority, Dauphin County, Pennsylvania, Guaranteed Parking Revenue Bonds, Series 2007R, 4.250%, 5/15/21 (Pre-refunded 11/15/16) &#8211; SYNCORA GTY Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/16 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/R (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">739,602</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 (Pre-refunded 10/15/19)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Baa2 (6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">571,690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total U.S. Guaranteed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,070,755</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utilities &#8211; 5.9% (6.0% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chester County Industrial Development Authority, Pennsylvania, Water Facilities Revenue Bonds, Aqua Pennsylvania Inc. Project, Series 2007A, 5.000%, 2/01/40 &#8211; FGIC Insured (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2/17 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">761,085</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">170</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware County Industrial Development Authority, Pennsylvania, Revenue Bonds, Covanta Project, Refunding Series 2015A, 5.000%, 7/01/43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Ba2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">173,482</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">B+</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">96,920</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Thirteenth Series 2015, 5.000%, 8/01/30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8/25 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A&#8211;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">148,158</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,145</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,179,645</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Water and Sewer &#8211; 10.0% (10.2% of Total Investments)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">175</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bucks County Water and Sewer Authority, Pennsylvania, Revenue Bonds, Tender Option Bond Trust 2015-XF0123, 12.238%, 12/01/19 &#8211; AGM Insured (IF) (4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">No Opt. Call</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">251,377</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">70</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Easton, Pennsylvania, Area Joint Sewer Authority, Water and Sewer Revenue Bonds, Series 2015, 3.125%, 12/01/33 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">71,400</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Findlay Township Municipal Authority, Allegheny County, Pennsylvania, Revenue Bonds, Series 2015, 3.125%, 12/15/32 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/20 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,914</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">200</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Series 2013A, 5.125%, 12/01/47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12/23 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">229,920</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2009A:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">823,388</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">A1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">548,785</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Robinson Township Municipal Authority, Allegheny County, Pennsylvania, Water and Sewer Revenue Bonds, Series 2014, 4.000%, 5/15/40 &#8211; BAM Insured</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11/19 at 100.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">AA</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">60,712</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,785</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Water and Sewer</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,015,496</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,730</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Investments (cost $17,576,625)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">19,758,982</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other Assets Less Liabilities &#8211; 1.8%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">359,094</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net Assets Applicable to Common Shares &#8211; 100%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">20,118,076</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.07%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="9ca3b6936cea4aec9ec8f47a72918f01" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(1)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(2)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(3)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor's Group ("Standard &amp; Poor's"), Moody's Investors Service, Inc. ("Moody's") or Fitch, Inc. ("Fitch") rating. Ratings below BBB by Standard &amp; Poor's, Baa by Moody's or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(4)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(5)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Step-up coupon. The rate shown is the coupon as of the end of the reporting period.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(6)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(IF)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Inverse floating rate investment.</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">&#160;</div>

<table id="d9a5e5974c6c4b239d18426b67eb37ac" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">53</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div>
<div><br>
</div>

<table id="bb6b015f2c60431f9d6871403c1027ce" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Statement of</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 50%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 36%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 50%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Assets and Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 36%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3a2e72679515468f9bf736ba6c85c090" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-term investments, at value (cost $913,185,229, $24,471,940, $808,608,618 and $17,576,625, respectively)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,000,048,066</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27,452,581</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">883,890,751</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,758,982</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">356,156</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50,040</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">157,485</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Receivable for:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Interest</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,645,281</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">376,930</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,634,256</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">284,315</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments sold</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">39,484</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,207,305</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Deferred offering costs</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,630,713</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">947,104</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">387,526</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">376</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">303,409</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">291</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 25.9pt; TEXT-INDENT: -8.65pt">Total assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,017,067,742</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27,919,411</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">907,982,825</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,216,073</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Floating rate obligations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,070,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash overdraft</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,871,672</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Unrealized depreciation on interest rate swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Payable for:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Dividends</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,632,893</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">73,424</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,305,268</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,294</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments purchased</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,014,785</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,008,623</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate MuniFund Term Preferred ("VMTP") Shares, at liquidation preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate Demand Preferred ("VRDP") Shares, at liquidation preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,900,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">217,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Accrued expenses:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Management fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">495,895</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,854</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">433,610</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,536</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Professional fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">43,921</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21,332</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">329,887</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21,295</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Trustees fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">114,085</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">40</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">109,983</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">77,933</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,166</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">122,159</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,840</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 25.9pt; TEXT-INDENT: -8.65pt">Total liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">328,096,479</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,622,439</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">300,742,579</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">97,997</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">688,971,263</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,296,972</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">607,240,246</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,118,076</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">42,584,679</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,550,036</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">37,754,841</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,219,352</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net asset value ("NAV") per common share outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16.50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares consist of:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares, $0.01 par value per share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">425,847</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">377,548</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,194</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Paid-in surplus</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">606,729,078</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22,144,384</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">533,831,021</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,438,188</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Undistributed (Over-distribution of) net investment income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,655,681</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">109,501</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(412,865</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">210,729</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Accumulated net realized gain (loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(3,885,213</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">46,946</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,837,591</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">274,608</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net unrealized appreciation (depreciation)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">84,045,870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,980,641</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">75,282,133</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,182,357</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">688,971,263</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,296,972</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">607,240,246</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,118,076</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Authorized shares:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Common</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Unlimited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Unlimited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Unlimited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Unlimited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Preferred</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Unlimited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Unlimited</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">N/A</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">N/A &#8212; Fund is not authorized to issue Preferred Shares.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-LEFT: 36pt; MARGIN-TOP: 8pt; TEXT-INDENT: -36pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="cb4c346adf9640e69f77088028e70ac8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">54</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="9f9ee1fea5664ba1a7820aacce1b9238" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Statement of</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year Ended April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3235d7b1bf684f0290da5383ee67c72e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Investment Income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">44,216,190</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,193,022</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">39,246,239</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">996,525</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Management fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,923,090</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">155,745</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5,212,388</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">115,287</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Interest expense and amortization of offering costs</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">544,066</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,307</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,038,642</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Liquidity fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,930,921</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,068,786</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Remarketing fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">319,134</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">221,123</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Custodian fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">103,383</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,208</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">95,877</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,548</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Trustees fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,654</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">720</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">23,247</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">583</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Professional fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">38,081</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22,302</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,706</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21,984</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Shareholder reporting expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">52,521</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,975</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50,695</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,373</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Shareholder servicing agent fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32,538</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">245</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">59,567</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">163</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Stock exchange listing fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,284</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">345</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12,089</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">271</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Investor relations expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,346</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,579</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">63,996</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,214</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">294,828</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,653</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">44,211</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,166</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,343,846</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">223,079</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,927,327</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">168,589</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net investment income (loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">33,872,344</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">969,943</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,318,912</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">827,936</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Realized and Unrealized Gain (Loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net realized gain (loss) from investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,086,377</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">63,034</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,035,292</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">334,215</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Change in net unrealized appreciation (depreciation) of:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,494,099</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">96,605</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16,309,552</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(226,671</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net realized and unrealized gain (loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27,763,509</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">159,639</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,344,844</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">107,544</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,635,853</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,129,582</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">47,663,756</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">935,480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="de7103764b7447d885748768203236f5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">55</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="54bcfb96c5d9463b98b46d23930c1f6a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Statement of</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 86%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 86%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Changes in Net Assets</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b0af9154c327488fbe28ecda3b085ab0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Municipal Value (NJV)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net investment income (loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">33,872,344</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,283,663</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">969,943</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">963,306</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net realized gain (loss) from investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,086,377</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,172,472</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">63,034</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">672,509</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Change in net unrealized appreciation (depreciation) of:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,494,099</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,921,115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">96,605</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(6,417</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,635,853</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16,535,020</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,129,582</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,629,398</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Distributions to Common Shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">From net investment income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(34,887,468</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(17,478,928</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(938,856</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(981,771</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">From accumulated net realized gains</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(344,985</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(323,803</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(276,526</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Decrease in net assets applicable to common shares from distributions to common shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(35,232,453</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(17,478,928</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,262,659</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,258,297</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Share Transactions</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Issued in the reorganizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">570,950,389</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Cost of shares repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(6,101,727</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,517,510</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(213,171</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from capital share transactions</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(6,101,727</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">569,432,879</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(213,171</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,301,673</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">568,488,971</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(133,077</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">157,930</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares at the beginning of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">668,669,590</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100,180,619</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,430,049</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,272,119</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares at the end of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">688,971,263</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">668,669,590</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,296,972</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,430,049</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Undistributed (Over-distribution of) net investment income at the end of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,655,681</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,444,690</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">109,501</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">80,634</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="d69e8a8eec97439f9362990d4ea42273" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">56</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="d02d224cbeaf4393bd39d67866c61b27" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pennsylvania Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pennsylvania Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 27%" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NPN</font>)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net investment income (loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,318,912</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">30,831,662</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">827,936</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">815,704</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net realized gain (loss) from investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,035,292</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(451,244</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">334,215</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">18,377</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Change in net unrealized appreciation (depreciation) of:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16,309,552</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,639,321</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(226,671</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">486,645</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">47,663,756</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50,019,739</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">935,480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,320,726</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Distributions to Common Shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">From net investment income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(31,373,686</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(31,976,724</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(769,533</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(769,411</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">From accumulated net realized gains</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Decrease in net assets applicable to common shares from distributions to common shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(31,373,686</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(31,976,724</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(769,533</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(769,411</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Share Transactions</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Issued in the reorganizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Cost of shares repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,589,406</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(61,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from capital share transactions</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,589,406</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(61,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14,700,664</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,981,387</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">165,947</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">551,315</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares at the beginning of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">592,539,582</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">574,558,195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,952,129</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,400,814</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares at the end of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">607,240,246</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">592,539,582</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,118,076</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,952,129</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Undistributed (Over-distribution of) net investment income at the end of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(412,865</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">690,405</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">210,729</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">153,803</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="1deb132ed37445bdb305fbfce28aadb7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">57</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="8d6ac634582d4b6597672a7173242c35" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Statement of</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 46%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash Flows</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year Ended April 30, 2016</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="73a3bac5a99045a98a5aac68a3886ab0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash Flows from Operating Activities:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,635,853</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">47,663,756</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">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:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Purchases of investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(138,750,843</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(142,831,164</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from sales and maturities of investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">137,927,576</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150,168,102</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Taxes paid</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(3,278</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,428</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Amortization (Accretion) of premiums and discounts, net</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">791,816</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,141,646</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Amortization of deferred offering costs</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">128,134</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">283,173</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">(Increase) Decrease in:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Receivable for dividends</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4,686</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Receivable for interest</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(403,144</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">335,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Receivable for investments sold</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,662,896</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(7,582,305</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Other assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(18,053</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(15,392</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Increase (Decrease) in:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for interest</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(38,335</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for investments purchased</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">396,086</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,021,277</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued management fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,413</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,770</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued professional fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(51,844</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(43,353</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued Trustees fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(5,943</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(6,353</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued other expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(34,317</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(115,235</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net realized (gain) loss from investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,086,377</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,035,292</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Change in net unrealized (appreciation) depreciation of:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(29,494,099</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(16,309,552</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net cash provided by (used in) operating activities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">41,518,529</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,594,661</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash Flows from Financing Activities:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Increase (Decrease) in:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Cash overdraft</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,871,672</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for offering costs</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(102,456</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(208,858</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash distributions paid to common shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(35,264,333</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(31,420,645</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cost of common shares repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(6,101,727</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,589,406</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net cash provided by (used in) financing activities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(41,468,516</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(30,347,237</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net Increase (Decrease) in Cash</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">50,013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(752,576</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash at the beginning of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">306,143</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">752,576</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash at the end of period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">356,156</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="56010282e2934c20a06c6f427e104d20" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Supplemental Disclosure of Cash Flow Information</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash paid for interest (excluding amortization of offering costs)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">481,203</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,002,662</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="41ccbad5650f4704a5f29741932d294d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">58</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; MARGIN-TOP: 8pt">THIS PAGE INTENTIONALLY LEFT BLANK</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; MARGIN-TOP: 8pt">&#160;</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="bf4e15e451be486f9c7f32a762d06b5c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">59</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="6bdf67a767354c0eabfd628e5cfddb49" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Financial</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 86%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14%">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 86%">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Highlights</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Selected data for a common share outstanding throughout each period:</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="03edff0dca844da496d95281eecfdad3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="10"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Less Distributions to</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="10"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Investment Operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Beginning</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Common</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Share</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">NAV</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Investment</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Income</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">(Loss</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial">)</font>&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Realized/</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Unrealized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Gain (Loss</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial">)</font>&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">From</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Investment</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Income</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">From</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Accum-</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">ulated</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Realized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Gains</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Discount</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Per</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Share</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Repurchased</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">and Retired</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Ending</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">NAV</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Ending</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Share</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Price</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)&#160;&#160;&#160;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="3">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:&#160;&#160;&#160;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.53</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.79</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.82</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.03</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.67</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.77</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.77</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.53</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">13.58</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.71</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.87</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">13.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.93</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.56</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.94</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">13.61</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.71</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">2.54</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.84</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.92</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Municipal Value (NJV)&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.62</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.73</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.61</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.82</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.32</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.62</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.05</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.81</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.02</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.98</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.65</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.19</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.82</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.48</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.62</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.67</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.61</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.67</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.92</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.98</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.02</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.72</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">2.66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.76</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.76</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.62</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="ae2ebfdca0bb49ecb429358bf91e2f1d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, 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 NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund's market price (and not its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total Return Based on Common Share Price 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.</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="20141cce2f924a4fa52424f7be3a72b5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="fbb5e02be2824860b3ad34154992837a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 29.87%" colspan="4">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 62.45%" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Share Supplemental Data/</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 29.87%" colspan="4">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 62.45%" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Ratios Applicable to Common Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 29.87%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 29.67%" colspan="4">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 29.87%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Total Returns</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 29.67%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Ratios to Average Net Assets(b)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Based</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ending</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Based</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">on</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Net</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Net</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Portfolio</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">on</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Turnover</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.84%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(c)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Income (Loss</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.58%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.38%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(d)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.79</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">688,971</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.56</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.77</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.35</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">668,670</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.71</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(0.71</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(3.78</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100,181</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.07</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">105,892</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.37</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19.09</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">100,578</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.52</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.82</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.57</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.70</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,297</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.89</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.87</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.62</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,430</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.87</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.75</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(4.18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,272</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.88</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.86</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.25%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.84%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.58</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,574</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.95</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11.58%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.38%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">18.43</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.25%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.84%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">24.34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,957</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.76</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11.58%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.38%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="0f9f98b7102143e4b7fb5ef6089abb45" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(b)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to preferred shares issued by the Fund, where applicable.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(c)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 4 &#8211; Fund Shares, Preferred 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 (as described in Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities), where applicable, as follows:</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="8b7864b29b654b94a070cb7b5e161192" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 82.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.57</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.98</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.27</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b7fa96056e7a48ceb51c8be712e1a798" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 82.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Municipal Value (NJV)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="15633da4c09e4c7ba11aa77145c7068c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5.02%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(d)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 94.98%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5.02%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 94.98%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Rounds to less than $0.01 per share.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="5feb3a8c506f4171bf1b2dfcc38165bc" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">61</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Financial Highlights </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Selected data for a common share outstanding throughout each period:</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="6f52750f648f46e8bfc0fcf68cb572e6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="10"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Less Distributions to</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom" colspan="10"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Investment Operations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Shareholders</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Beginning</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Common</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Share</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">NAV</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Investment</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Income</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">(Loss)</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Realized/</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Unrealized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Gain (Loss)</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">From</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Investment</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Income</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">From</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Accum-</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">ulated</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Realized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Gains</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Discount</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Per</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Share</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Repurchased</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">and Retired</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Ending</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">NAV</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Ending</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Share</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Price</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP) </div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30: </div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.80</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.26</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.81</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.31</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.84</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.84</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">13.87</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.74</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.93</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.19</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">13.76</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.78</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.80</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.54</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.34</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.24</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.90</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.70</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">2.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.93</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.93</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.78</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.67</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Municipal Value (NPN) </div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="8">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30: </div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.09</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.77</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.67</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.41</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.57</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.48</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.67</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.56</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.91</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.06</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.94</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.48</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.86</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">14.79</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.72</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">1.58</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">2.30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.71</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.02</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">(0.73</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">16.36</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 5%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">15.38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="39840c3f8ca9470ca39326d3011d34ee" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, 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 NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund's market price (and not its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total Return Based on Common Share Price 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.</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3672b29297e9445c90f8915a495a8294" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">62</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="945ae4971de84658be67fabb73156d68" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 61.86%" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Share Supplemental Data/</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 61.86%" colspan="10">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Ratios Applicable to Common Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 29.94%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 29.67%" colspan="4">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 29.94%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Total Returns</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 29.67%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Ratios to Average Net Assets(b)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Based</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ending</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Based</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">on</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Net</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Net</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Portfolio</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">on</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Assets</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Turnover</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.73%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NAV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.17%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.97%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Price</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Expenses</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(c)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.72%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Income (Loss</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.9%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">(d)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.46</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">607,240</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.51</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.13</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.79</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7.09</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">592,540</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.21</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(0.69</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(3.65</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">574,558</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.87</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5.33</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8.50</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2.97</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">261,195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.80</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.98</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">18.88</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27.48</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">253,937</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.63</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">18</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.82</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.09</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,118</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.87</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12.30</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,952</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.80</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(4.45</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,401</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.28</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.73%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6.58</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.17%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.05%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.97%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9.39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,089</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.7%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.81</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12.72%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3.18%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.9%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.73%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.89</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.17%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.97%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,948</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.7%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.86</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12.72%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">4.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3.18%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 11%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.9%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b99559c7236849bdb4e3924d974d9f87" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(b)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to preferred shares issued by the Fund, where applicable.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.94%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(c)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.06%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 4 &#8211; Fund Shares, Preferred 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 (as described in Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities), where applicable, as follows:</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="641587bb03664b47a9a16fa25eed8f7a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 82.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.56</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.72</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.61</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="94aa49e4c2bf477fa35fbcf372a3ac67" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 82.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Municipal Value (NPN)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 82.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 3%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 82.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 3%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="310bf046e880443390b70abcb084964c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5.02%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(d)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 94.98%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5.02%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 94.98%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Rounds to less than $0.01 per share.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="0bd47cc655d8416fa7052a2db8a11e6a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">63</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Financial Highlights </font>(continued)</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="fb5aca8a1ce545d395375fa5b1459ab2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-FAMILY: Arial">MTP Shares</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">at the End of Period (a)</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-FAMILY: Arial">VMTP Shares</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">at the End of Period</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 23%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-FAMILY: Arial">VRDP Shares</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">at the End of Period</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 11%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">MTP, VMTP and VRDP Shares at <br>
 the End of Period</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Asset</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Aggregate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Asset</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Aggregate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Asset</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Aggregate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Asset</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Coverage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Coverage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Coverage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Coverage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Per $1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Per $10</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Per $100,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 11%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Per $100,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Liquidation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 33.5%; BACKGROUND-COLOR: #cceeff" colspan="7">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 20.5%; BACKGROUND-COLOR: #ffffff" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">319,488</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,020</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">45,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">322,624</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">44,861</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">33.60</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">44,861</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">32.42</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 33.5%; BACKGROUND-COLOR: #cceeff" colspan="7">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 20.5%; BACKGROUND-COLOR: #ffffff" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Year Ended 4/30:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">328,716</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">217,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">328,716</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.29</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">323,179</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">217,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">323,179</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.23</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">47,740</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31.66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">217,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">316,618</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3.17</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">332,174</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">325,722</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="7cd2b75203a74ca4b0d64dacd4ae5b22" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(a)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The Ending and Average Market Value Per Share for each Series of the Fund's MTP Shares were as follows:</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="a940a43d672646b48dd5eaa476157cae" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">2013</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">2012</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Series 2014 (NXJ PRCCL)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ending Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.02</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.03</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">^</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.09</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.07</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Series 2015 (NXJ PRCCL)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ending Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">^^</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Dividend Advantage (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Series 2015 (NQP PRCCL)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ending Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.05</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.01</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#937;&#937;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.03</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#937;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Series 2015 (NQP PRDCL)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Ending Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.04</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average Market Value per Share</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.02</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#937;&#937;&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10.03</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#937;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="bdfb10b654674f9390c3666f747b4569" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">^</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the period May 1, 2013 through September 9, 2013.</div>
</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">^^</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the period November 10, 2014 (effective date of the reorganizations) through February 9, 2015.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#937;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the period February 11, 2014 (effective date of the reorganizations) through April 30, 2014.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#937;&#937;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the period May 1, 2014 through May 30, 2014.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: right; MARGIN-TOP: 8pt">See accompanying notes to financial statements.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="ac7eb8cd4ff2483ea5e1a55c5c76c790" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">64</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Notes to Financial Statements</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">1. General Information and Significant Accounting Policies</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">General Information</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Fund Information</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">The funds covered in this report and their corresponding New York Stock Exchange ("NYSE") or NYSE MKT symbols are as follows (each a "Fund" and collectively, the "Funds"):</font></div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="42925c3d0cbb44ab9311b0dadce0c017" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3.96%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8226;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 93%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen New Jersey Dividend Advantage Municipal Fund (NXJ) ("New Jersey Dividend Advantage (NXJ)")</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3.96%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8226;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 93%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen New Jersey Municipal Value Fund (NJV) ("New Jersey Municipal Value (NJV)")</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3.96%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8226;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 93%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen Pennsylvania Investment Quality Municipal Fund (NQP) ("Pennsylvania Investment Quality (NQP)")</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3.96%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8226;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 93%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen Pennsylvania Municipal Value Fund (NPN) ("Pennsylvania Municipal Value (NPN)")</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The Funds are registered under the Investment Company Act of 1940, as amended, as diversified closed-end management investment companies. Common shares of New Jersey Dividend Advantage (NXJ) and Pennsylvania Investment Quality (NQP) are traded on the NYSE while common shares of New Jersey Municipal Value (NJV) and Pennsylvania Municipal Value (NPN) are traded on the NYSE MKT. New Jersey Dividend Advantage (NXJ), New Jersey Municipal Value (NJV), Pennsylvania Investment Quality (NQP) and Pennsylvania Municipal Value (NPN) were organized as Massachusetts business trusts on June 1, 1999, January 26, 2009, December 20, 1990 and January 26, 2009, respectively.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The end of the reporting period for the Funds is April 30, 2016, and the period covered by these Notes to Financial Statements is the fiscal year ended April 30, 2016 (the "current fiscal period").</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Investment Adviser</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">The Funds' investment adviser is Nuveen Fund Advisors, LLC (the "Adviser"), a wholly-owned subsidiary of Nuveen Investments, Inc. ("Nuveen"). Nuveen is an operating division of TIAA Global Asset Management. The Adviser is responsible for each Fund's overall investment strategy and asset allocation decisions. The Adviser has entered into sub-advisory agreements with Nuveen Asset Management, LLC (the "Sub-Adviser"), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Investment Objectives and Principal Investment Strategies</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Each Fund seeks to provide current income exempt from both regular federal and designated state income taxes by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within a single state or certain U.S. territories.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Significant Accounting Policies</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Each Fund is an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 946, "Financial Services &#8211; Investment Companies." The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with U.S. generally accepted accounting principles ("U.S. GAAP").</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Investment Transactions</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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 earmarked securities in their portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of the end of the reporting period, the following Funds' outstanding when-issued/delayed delivery purchase commitments were as follows:</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="4630d15d56184d3089174332d74b0eee" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 72.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 72.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 72.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 72.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 72.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Outstanding when-issued/delayed delivery purchase commitments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,014,785</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,008,623</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="d680f387bebe4904827edd603b42097b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">65</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Investment Income</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Dividend income is recorded on the ex-dividend date. Investment income, which reflects the amortization of premiums and accretion of discounts for financial reporting purposes, is recorded on an accrual basis. Investment income also reflects paydown gains and losses, if any.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Professional Fees</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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. If a refund is received for workout expenditures paid in a prior reporting period, such amounts will be recognized as "Legal fee refund" on the Statement of Operations.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Dividends and Distributions to Common Shareholders</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Indemnifications</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Under the Funds' 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' 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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Netting Agreements</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivative Association, Inc. ("ISDA") master agreements or other similar arrangements ("netting agreements"). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities collateral on a counterparty basis.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The Funds' investments subject to netting agreements as of the end of the reporting period, if any, are further described in Note 3 &#8211; Portfolio Securities and Investments in Derivatives.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Use of Estimates</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">2. Investment Valuation and Fair Value Measurements<br>
<font style="FONT-WEIGHT: normal">The fair valuation input levels as described below are for fair value measurement purposes.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="ff56ae63f548468c91c4d5a28384221e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 7.13%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Level 1 &#8211;&#160; </div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 92.87%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.</div>
</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 7.13%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Level 2 &#8211;&#160; </div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 92.87%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).</div>
</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 7.13%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Level 3 &#8211;&#160; </div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 92.87%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of investments).</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Prices of fixed income securities are provided by an independent pricing service ("pricing service") approved by the Funds' Board of Trustees (the "Board"). The pricing service establishes a security'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's credit characteristics considered relevant. These securities are generally classified as Level 2. In pricing certain securities, particularly less liquid and lower quality securities, the pricing</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="13cda4e9c60249c09d87ec73e439351b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">66</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

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<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Prices of swap contracts are also provided by an independent pricing service approved by the Board using the same methods as described above and are generally classified as Level 2.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Common stocks and other equity-type securities are valued at the last sales price on the securities exchange on which such securities are primarily traded and are generally classified as Level 1. Securities primarily traded on the NASDAQ National Market ("NASDAQ") are valued at the NASDAQ Official Closing Price and are generally classified as Level 1. However, securities traded on a securities exchange or NASDAQ for which there were no transactions on a given day or securities not listed on a securities exchange or NASDAQ are valued at the quoted bid price and are generally classified as Level 2.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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 Board and/or its appointee 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's net asset value ("NAV") (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'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 such 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'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 Board and/or its appointee.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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's fair value measurements as of the end of the reporting period:</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="5f3026bc0d4e4992b6504cd6ae125667" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Level 1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Level 2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Level 3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Investments*:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">999,371,195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">999,371,195</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Common Stocks</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">676,871</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">676,871</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Investments in Derivatives:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Interest Rate Swaps**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">676,871</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">996,554,228</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">997,231,099</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Municipal Value (NJV)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Investments*:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,931,953</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,931,953</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Common Stocks</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">520,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">520,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">520,628</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">26,931,953</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">27,452,581</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Investments*:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">883,890,751</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">883,890,751</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Municipal Value (NPN)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-Term Investments*:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,758,982</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">19,758,982</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="82a7852c74d0445da6c90afdb36e4408" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 13px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Refer to the Fund's Portfolio of Investments for industry classifications.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Represents net unrealized appreciation (depreciation) as reported in the Fund's Portfolio of Investments.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The Board is responsible for the valuation process and has appointed the oversight of the daily valuation process to the Adviser's Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board, is responsible for making fair value determinations, evaluating the effectiveness of the Funds' pricing policies and reporting to the Board. The Valuation Committee is aided in its efforts by the Adviser'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.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">67</div>
</td>
</tr>
</table>

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</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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:</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="3ef2221d19e741f1b0c9570dd037e290" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.6%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.6%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(i)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.8%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.6%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.6%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.8%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.6%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.6%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(ii)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 90.8%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">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.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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's current value.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, 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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">3. Portfolio Securities and Investments in Derivatives</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Portfolio Securities</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Inverse Floating Rate Securities</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond (referred to as an "Underlying Bond"), typically with a fixed interest rate, into a special purpose tender option bond ("TOB") trust (referred to as the "TOB Trust") created by or at the direction of one or more Funds. In turn, the TOB Trust issues (a) floating rate certificates (referred to as "Floaters") in face amounts equal to some fraction of the Underlying Bond's par amount or market value, and (b) an inverse floating rate certificate (referred to as an "Inverse Floater") that represents all remaining or residual interest in the TOB Trust. Floaters typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value, which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider ("Liquidity Provider"), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more of the Funds. The income received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse Floater holder bears substantially all of the Underlying Bond's downside investment risk and also benefits disproportionately from any potential appreciation of the Underlying Bond's value. The value of an Inverse Floater 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 Floaters, and because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more than par in certain circumstances), and (b) have the trustee of the TOB Trust (the "Trustee") transfer the Underlying Bond held by the TOB Trust to the Fund, thereby collapsing the TOB Trust.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The Fund may acquire an Inverse Floater in a transaction where it (a) transfers an Underlying Bond that it owns to a TOB Trust created by a third party or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a "self-deposited Inverse Floater"). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first owning the Underlying Bond (referred to as an "externally-deposited Inverse Floater").</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">An investment in a self-deposited Inverse Floater is accounted for as a "financing" transaction (i.e., a secured borrowing). For a self-deposited Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund's Portfolio of Investments as "(UB) &#8211; Underlying bond of an inverse floating rate trust reflected as a financing transaction," with the Fund recognizing as liabilities, labeled "Floating rate obligations" on the Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in "Investment Income" the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB Trust's borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component of "Interest expense and amortization of offering costs" on the Statement of Operations.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the Fund's Portfolio of Investments as "(IF) &#8211; Inverse floating rate investment." For an externally-deposited Inverse Floater, a Fund's Statement of Assets and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in "Investment Income" only the net amount of earnings on the</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="5ff7221532b642958c53802f12ee3805" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

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</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of the end of the reporting period, the aggregate value of Floaters issued by each Fund's TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="da5480eeba1b471fab794079106668a8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Floating Rate Obligations Outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Floating rate obligations: self-deposited Inverse Floaters</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,070,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Floating rate obligations: externally-deposited Inverse Floaters</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">101,200,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,025,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">46,030,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">540,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">101,200,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,525,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">75,100,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">540,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average annual interest rate and fees related to self-deposited Inverse Floaters, were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="14db6316417c40918acb280407829d95" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Self-Deposited Inverse Floaters</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average floating rate obligations outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">29,070,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average annual interest rate and fees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.69</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.39</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that Floaters are (a) tendered to the Trustee for remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire the Floaters that were tendered and not remarketed prior to providing such a loan. In these circumstances, the Liquidity Provider remains obligated to provide a loan to the extent that the proceeds of the sale of the Underlying Bond is not sufficient to pay the purchase price of the Floaters. </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust's outstanding Floaters plus any accrued interest. In consideration of the loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be effectively borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater than the rate that would have been paid had the Floaters been successfully remarketed. </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As described above, any amounts outstanding under a liquidity facility are recognized as a component of "Floating rate obligations" on the Statement of Assets and Liabilities by the Fund holding the corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the reporting period, there were no loans outstanding under any such facility.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a "recourse arrangement" or "credit recovery swap") (TOB Trusts involving such agreements are referred to herein as "Recourse Trusts"), under which a Fund agrees to reimburse the Liquidity Provider for the Trust's Floaters, in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus any shortfalls in interest cash flows. Under these agreements, a Fund's potential exposure to losses related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as "Unrealized depreciation on Recourse Trusts" on the Statement of Assets and Liabilities. </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of the end of the reporting period, each Fund's maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="fb4bb3d97e394b72a3bb6d40dbc1a149" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Floating Rate Obligations &#8212; Recourse Trusts</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,970,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">92,535,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,025,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">11,955,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">400,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">92,535,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,525,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">20,925,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">400,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="962f839790384b57bb4b00ecff079675" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">69</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Zero Coupon Securities</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Investments in Derivatives</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">In addition to the inverse floating rate securities in which each Fund may invest, which are considered portfolio securities for financial reporting purposes, each Fund is authorized to invest in certain derivative instruments such as futures, options and swap contracts. Each Fund limits its investments in futures, options on futures and swap contracts to the extent necessary for the Adviser to claim exclusion from registration by the </font>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' investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Interest Rate Swap Contracts</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Interest rate swap contracts involve a Fund's agreement with the counterparty to pay or receive a fixed rate payment in exchange for the counterparty receiving or paying a variable rate payment. Forward interest rate swap contracts involve a Fund's agreement with a counterparty to pay, in the future, a fixed or variable rate payment in exchange for the counterparty paying the Fund a variable or fixed rate payment, the accruals for which begin at a specified date in the future (the "effective date"). </font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The amount of the payment obligation for an interest rate swap is based on the notional amount and the termination date of the contract. Interest rate swap contracts do not involve the delivery of securities or other underlying assets or principal. Accordingly, the risk of loss with respect to the swap counterparty on such transactions is limited to the net amount of interest payments that the Fund is to receive.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Interest rate swap contracts are valued daily. Upon entering into an interest rate swap contract (and beginning on the effective date for a forward interest rate swap contract), the Fund accrues the fixed rate payment expected to be paid or received and the variable rate payment expected to be received or paid on the interest rate swap contracts on a daily basis, and recognizes the daily change in the fair value of the Fund's contractual rights and obligations under the contracts. For an over-the-counter ("OTC") swap that is not cleared through a clearing house ("OTC Uncleared"), the net amount recorded on these transactions, for each counterparty, is recognized on the Statement of Assets and Liabilities as a component of "Unrealized appreciation or depreciation on interest rate swaps (, net)."</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Upon the execution of an OTC swap cleared through a clearing house ("OTC Cleared"), the Fund is obligated to deposit cash or eligible securities, also known as "initial margin," into an account at its clearing broker equal to a specified percentage of the contract amount. Cash deposited by the Fund to cover initial margin requirements on open swap contracts, if any, is recognized as a component of "Cash collateral at brokers" on the Statement of Assets and Liabilities. Investments in OTC Cleared swaps obligate the Fund and the clearing broker to settle monies on a daily basis representing changes in the prior day's "mark-to-market" of the swap contract. If the Fund has unrealized appreciation, the clearing broker will credit the Fund's account with an amount equal to the appreciation. Conversely, if the Fund has unrealized depreciation, the clearing broker will debit the Fund's account with an amount equal to the depreciation. These daily cash settlements are also known as "variation margin." Variation margin for OTC Cleared swaps is recognized as a receivable and/or payable for "Variation margin on swap contracts" on the Statement of Assets and Liabilities. Upon the execution of an OTC Uncleared swap, neither the Fund nor the counterparty is required to deposit initial margin as the trades are recorded bilaterally between both parties to the swap contract, and the terms of the variation margin are subject to a predetermined threshold negotiated by the Fund and the counterparty. Variation margin for OTC Uncleared swaps is recognized as a component of "Unrealized appreciation or depreciation on interest rate swaps (, net)" as described in the preceding paragraph.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The net amount of periodic payments settled in cash are recognized as a component of "Net realized gain (loss) from swaps" on the Statement of Operations, in addition to the net realized gain or loss recorded upon the termination of the swap contract. For tax purposes, payments expected to be received or paid on the swap contracts are treated as ordinary income or expense, respectively. Changes in the value of the swap contracts during the fiscal period are recognized as a component of "Change in net unrealized appreciation (depreciation) of swaps" on the Statement of Operations. In certain instances, payments are made or received upon entering into the swap contract to compensate for differences between the stated terms of the swap agreements and prevailing market conditions (credit spreads, currency exchange rates, interest rates, and other relevant factors). Payments received or made at the beginning of the measurement period, if any, are recognized as "Interest rate swaps premiums paid and/or received" on the Statement of Assets and Liabilities.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the current fiscal period, New Jersey Dividend Advantage (NXJ) invested in forward interest rate swap contracts to help reduce price volatility risk to movements in U.S. interest rates relative to the Fund's benchmark.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="27beed3e97b34308a56f80a4394f2185" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">70</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The average notional amount of interest rate swap contracts outstanding during the current fiscal period was as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="89e2b859cd694f10a9ab936e2de2334d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 83.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average notional amount of interest rate swap contracts outstanding*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35,100,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="acf2f6246ab643f6b6391e132b0fa07a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal period and at the end of each fiscal quarter within the current fiscal period.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The following table presents the fair value of all swap contracts held by the Funds, as of the end of the reporting period, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">&#160;</div>

<table id="a828e6eb5531429b97f37fb4e6c2c996" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.04%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="9">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Location on the Statement of Assets and Liabilities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Underlying</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Derivative</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.04%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Asset Derivatives</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Liability) Derivatives</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Risk Exposure</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Instrument</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.04%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Location</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.04%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Location</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.22%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.14%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)&#160;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.04%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.04%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.22%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Interest rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Swaps (OTC)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.04%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.04%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Unrealized depreciation on</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.22%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.14%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 25%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.04%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.04%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">interest rate swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.22%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.14%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The following table presents the swap contracts subject to netting agreements and the collateral delivered related to those swap contracts as of the end of the reporting period.</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="8a0fce88f6fa4460aba0acb512a70239" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 16%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%" colspan="2">&#160;&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%" colspan="2">&#160;&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%" colspan="2">&#160;&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%" colspan="2">&#160;&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-FAMILY: Arial">Gross Amounts Not Offset</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">on the Statement</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">of Assets and Liabilities</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%" colspan="2">&#160;&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 16%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Counterparty</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 1.11%" colspan="2"><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Gross</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Unrealized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Appreciation on</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Interest</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Rate Swaps</font></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.06%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 1.11%" colspan="2"><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Gross</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Unrealized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">(Depreciation) on</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Interest</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Rate Swaps</font></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 2.06%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 1.11%" colspan="2"><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Amounts</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Netted on</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Statement</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">of Assets and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial; FONT-WEIGHT: bold">Liabilities</font></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 1.11%" colspan="2"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Net Unrealized</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Appreciation</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">(Depreciation</font><font style="FONT-WEIGHT: bold">)</font><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold"> on</font></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Interest Rate</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Swaps</font></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" colspan="2">&#160;

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Financial</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Instruments</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 2.06%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.11%" colspan="2">&#160;

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Collateral</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Pledged</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">to (from)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Counterparty</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.11%" colspan="2">&#160;

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-FAMILY: Arial">Net</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Exposure</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.11%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 16%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">JPMorgan Chase</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">166,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,650,347</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2.06%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 7.05%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.11%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 16%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Bank, N.A.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2.06%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 7.05%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.11%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="3b48d24980cb4756987d2a44b1ef1a11" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.7%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.3%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Represents gross unrealized appreciation (depreciation) for the counterparty as reported in the Fund's Portfolio of Investments.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4.7%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95.3%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Represents inverse floating rate securities available for offset.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on swap contracts on the Statement of Operations during the current fiscal period and the primary underlying risk exposure.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="264f771d814d443dba4a7749b05fefef" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Underlying</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Derivative</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Net Realized</div>

<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Gain (Loss) from</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Change in Net Unrealized</div>

<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Appreciation (Depreciation) of</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Risk Exposure</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Instrument</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Interest rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Swaps</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,816,967</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Market and Counterparty Credit Risk</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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'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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="1f64555067bd47cbbd9287e5c7cb82de" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">71</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">4. Fund Shares</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Common Share Transactions<br>
<font style="FONT-STYLE: normal">Transactions in common shares for the Funds during the Funds' current and prior fiscal period were as follows:</font></div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="0e7a4145ab7247ae850b1316791c6b4f" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Municipal Value (NJV)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common shares:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Issued in the reorganizations</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,615,391</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(473,600</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(112,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(15,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Weighted average common share:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Price per share repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">12.86</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.47</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.19</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Discount per share repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.38</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.85</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">14.25</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="13d7c08348ec49e8bdbf4220a131e2ae" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 24%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Municipal Value (NPN)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Year</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/16</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">4/30/15</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common shares repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(121,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(4,500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Weighted average common share:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 46.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Price per share repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.12</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.68</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 10%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 46.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Discount per share repurchased and retired</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15.08</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13.83</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 10%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Preferred Shares</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Variable Rate MuniFund Term Preferred Shares</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 0px"><br>
<font style="FONT-STYLE: normal">The following Fund has issued and outstanding Variable Rate MuniFund Term Preferred ("VMTP") Shares, with a $100,000 liquidation preference per share. VMTP Shares are issued via private placement and are not publicly available.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of the end of the reporting period, VMTP Shares outstanding, at liquidation preference, for the Fund was as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="f38ef9333cb64c41a9c37ab9bf36afd6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.52%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Liquidation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.52%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 53.52%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.48%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The Fund is obligated to redeem its VMTP Shares by the date as specified in its offering document ("Term Redemption Date"), unless earlier redeemed by the Fund. VMTP Shares are subject to optional and mandatory redemption in certain circumstances. The VMTP Shares may be redeemed at the option of the Fund, subject to payment of premium for approximately one year following the date of issuance ("Premium Expiration Date"), and at the redemption price per share thereafter. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends. The Fund may be obligated to redeem a certain amount of the VMTP 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 Term Redemption Date and Premium Expiration Date for the Fund's VMTP Shares are as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="44cd1ad6013046d3b4eec3f9331b9f53" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.52%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Term</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Premium</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.52%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Redemption Date</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Expiration Date</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 53.52%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">June 1, 2017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">May 31, 2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.48%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The average liquidation preference of VMTP Shares outstanding and annualized dividend rate for the Fund during the current fiscal period were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="2e437342f65942e19ac458124aa05ebd" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 83.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 83.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average liquidation preference of VMTP Shares outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 83.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Annualized dividend rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1.00</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">%</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">VMTP Shares are subject to restrictions on transfer, generally do not trade, and market quotations are generally not available. VMTP Shares are short-term or short/intermediate-term instruments that pay a variable dividend rate tied to a short-term index, plus an additional fixed "spread" amount established at the time of issuance. The fair value of VMTP Shares is expected to be approximately their liquidation preference so long as the fixed</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="947302b34fee417e92e175eef23dc879" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">72</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">"spread" on the VMTP Shares remains roughly in line with the "spread" being demanded by investors on instruments having similar terms in the current market environment. In present market conditions, the Fund's Adviser has determined that fair value of VMTP Shares is approximately their liquidation preference, but their fair value could vary if market conditions change materially. For financial reporting purposes, the liquidation preference of VMTP Shares is a liability and is recognized as "Variable Rate MuniFund Term Preferred ("VMTP") Shares, at liquidation preference" on the Statement of Assets and Liabilities.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Dividends on the VMTP shares (which are treated as interest payments for financial reporting purposes) are set weekly. Unpaid dividends on VMTP Shares are recognized as a component of "Interest payable" on the Statement of Assets and Liabilities. Dividends accrued on VMTP Shares are recognized as a component of "Interest expense and amortization of offering costs" on the Statement of Operations.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Costs incurred in connection with the Fund's offering of VMTP Shares were recorded as a deferred charge, which are amortized over the life of the shares and are recognized as components of "Deferred offering costs" on the Statement of Assets and Liabilities and "Interest expense and amortization of offering costs" on the Statement of Operations.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Variable Rate Demand Preferred Shares</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">The following Funds have issued and have outstanding Variable Rate Demand Preferred ("VRDP") Shares, with a $100,000 liquidation preference per share. VRDP Shares are issued via private placement and are not publicly available.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of the end of the reporting period, details of the Funds' VRDP Shares outstanding were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="fab39f4e7ec34808931781752cadfe7f" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Liquidation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Preference</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Maturity</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">810</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">81,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">August 3, 2043</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,443</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">144,300,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">April 1, 2043</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">886</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">88,600,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">April 1, 2043</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">112,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">December 1, 2042</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,050</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">105,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">December 1, 2042</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">VRDP Shares include a liquidity feature that allows VRDP shareholders to have their shares purchased by a liquidity provider with whom each Fund has contracted in the event that the VRDP Shares are not able to be successfully remarketed. Each Fund is required to redeem any VRDP Shares that are still owned by the liquidity provider after six months of continuous, unsuccessful remarketing. Each Fund pays an annual remarketing fee of 0.10% on the aggregate principal amount of all VRDP Shares outstanding. Each Fund's VRDP Shares have successfully remarketed since issuance.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Dividends on the VRDP Shares (which are treated as interest payments for financial reporting purposes) are set at a rate established by a remarketing agent; therefore, the market value of the VRDP Shares is expected to approximate its liquidation preference. In the event that VRDP Shares are unable to be successfully remarketed, the dividend rate will be the maximum rate which is designed to escalate according to a specified schedule in order to enhance the remarketing agent's ability to successfully remarket the VRDP Shares.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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 preference per share plus any accumulated but unpaid dividends.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The average liquidation preference of VRDP Shares outstanding and annualized dividend rate for each Fund during the current fiscal period were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="c4519759fef34405af3289412407251e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Average liquidation preference of VRDP Shares outstanding</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">313,900,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">217,500,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Annualized dividend rate</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.15%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">0.17%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">For financial reporting purposes, the liquidation preference of VRDP Shares is a liability and is recognized as "Variable Rate Demand Preferred ("VRDP") Shares, at liquidation preference" on the Statement of Assets and Liabilities. Unpaid dividends on VRDP Shares are recognized as a component of "Interest payable" on the Statement of Assets and Liabilities, when applicable. Dividends accrued on VRDP Shares are recognized as a component of "Interest expense and amortization of offering costs" on the Statement of Operations. Costs incurred by the Funds in connection with their offerings of VRDP Shares were recorded as a deferred charge, which are amortized over the life of the shares and are recognized as a component of "Deferred offering costs" on the Statement of Assets and Liabilities and "Interest expense and amortization of offering costs" on the Statement of Operations. In addition to interest expense, each Fund also pays a per annum liquidity fee to the liquidity provider, as well as a remarketing fee, which are recognized as "Liquidity fees" and "Remarketing fees," respectively, on the Statement of Operations.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="d9c27744e4634a7caa9d4e11a7fa8f10" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">73</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Preferred Share Transactions<br>
<font style="FONT-STYLE: normal">Transactions in preferred shares for the Funds during the Funds' current and prior fiscal period, where applicable, are noted in the following tables. </font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: normal; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Transactions in MTP Shares for the Funds, where applicable, were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="61cbfaf012734a3aab92e5fd4cffc77e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 58%" colspan="11">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Year Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 58%" colspan="11">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">April 30, 2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NYSE</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Ticker</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">MTP Shares issued in connection with the reorganization</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">NXJ PRCCL</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,505,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35,050,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">MTP Shares redeemed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">NXJ PRCCL</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(3,505,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(35,050,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">MTP Shares redeemed:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">NQP PRCCL</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,319,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(23,190,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">NQP PRDCL</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,455,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(24,550,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(4,774,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(47,740,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Transactions in VMTP Shares for the Funds, where applicable, were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="f039eca500264b85a61aab57115f0538" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 43%" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Year Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.44%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 43%" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">April 30, 2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.56%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 53.56%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">VMTP Shares issued</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">480</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">48,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.44%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Transactions in VRDP Shares for the Funds, where applicable, were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="eda2d90cf828435b8a163cf91748341c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 43%" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">Year Ended</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.44%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 43%" colspan="8">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">April 30, 2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.56%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Series</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Shares</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.56%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.56%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">VRDP Shares issued in connection with the reorganization:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,443</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">144,300,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.44%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.56%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">886</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">88,600,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.44%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.56%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">VRDP Shares issued</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">360</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">36,000,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.44%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 53.56%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,689</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">268,900,000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.44%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">5. Investment Transactions</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Long-term purchases and sales (including maturities but excluding derivative transactions, where applicable) during the current fiscal period were as follows:</font></div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="6b6384329ab94d4dbca085913c221eda" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Purchases</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">138,750,843</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,003,329</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">142,831,164</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,820,303</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Sales and maturities</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">137,927,576</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,055,460</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">150,168,102</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,939,204</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">6. Income Tax Information</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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 designated state income taxes, 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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="dafe085acdb745f984badb0226a27bb2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">74</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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 NAVs of the Funds.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, the cost and unrealized appreciation (depreciation) of investments (excluding investments in derivatives, where applicable), as determined on a federal income tax basis, were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="31504a2705734914af01acba70277d2c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Cost of Investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">912,209,281</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">22,870,201</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">779,627,777</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">17,462,619</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Gross unrealized:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Appreciation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">88,831,557</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,086,267</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">76,929,453</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,301,452</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Depreciation</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(992,772</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(3,887</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,736,487</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(5,089</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net unrealized appreciation (depreciation) of investments</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">87,838,785</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,082,380</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">75,192,966</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,296,363</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Permanent differences, primarily due to federal taxes paid, taxable market discount, expiration of capital loss carryforwards, nondeductible offering costs and nondeductible reorganization expenses resulted in reclassifications among the Funds' components of common share net assets as of April330, 2016, the Funds' tax year end, as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="e44aec159d064319b986456d7385d5ac" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Paid-in-surplus</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(235,910</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,195,737</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Undistributed (Over-distribution of) net investment income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">226,115</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(2,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(48,496</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">(1,477</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Accumulated net realized gain (loss)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">9,795</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,220</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,244,233</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,477</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of April 30, 2016, the Funds' tax year end, were as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="4c08cff59eab40e6afe1dc4953450339" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Undistributed net tax-exempt income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,551,068</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">93,327</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,569,870</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">87,262</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Undistributed net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">24,423</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,180</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">18,612</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">74,461</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Undistributed net long-term capital gains</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31,153</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">273,014</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="133460ee90c043519a296512ad3e4374" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on April 1, 2016, paid on May 2, 2016.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The tax character of distributions paid during the Funds' tax years ended April 30, 2016 and April 30, 2015, was designated for purposes of the dividends paid deduction as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="5c961d7d9f5645a59bfa6875b21b4090" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distributions from net tax-exempt income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">3</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35,379,191</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">914,520</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">31,959,341</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">760,876</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distributions from net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">21,295</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">25,886</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">369,997</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,657</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distributions from net long-term capital gains<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">4</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">345,375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">323,803</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="a5f122533f694ff2ad75f79c89599122" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">75</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="c1e9ec5002184984899117ddff95ca8b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distributions from net tax-exempt income</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">15,305,648</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">950,620</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">33,000,772</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">770,631</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distributions from net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">8,616</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">35,031</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,576</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Distributions from net long-term capital gains</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">276,526</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="53e116006c9541a1b901c18778cb17db" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">3</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The Funds hereby designate these amounts paid during the fiscal year ended April 30, 2016, as Exempt Interest Dividends.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">4</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The Funds designate as long-term capital gain dividend, pursuant to the Internal Revenue Code Section 852(b)(3), the amount necessary to reduce earnings and profits of the Funds related to net capital gain to zero for the tax year ended April 30, 2016.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, the Funds' tax year end, the following Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as shown in the following table. The losses not subject to expiration will be utilized first by a Fund.</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="c7931cb17e2a4eea85dbde8ecc8b93f5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">5</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Expiration:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">April 30, 2017</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">13,518</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Not subject to expiration</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,885,212</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,187,800</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">3,885,212</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,201,318</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="93e653ea812d41d79b4428d05485ee6b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">5</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">A portion of New Jersey Dividend Advantage's (NXJ) capital loss carryforward is subject to an annual limitation under the Internal Revenue Code and related regulations.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the Funds' tax year ended April 30, 2016, the following Funds utilized capital loss carryforwards as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="153f2277008b40c299eaddf480fd5eb9" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.52%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.52%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 53.52%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.48%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 53.52%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.48%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 53.52%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Utilized capital loss carryforwards</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,105,345</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">985,996</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,084</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.48%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">As of April 30, 2016, the Funds' tax year end, $2,167,149, of Pennsylvania Investment Quality's (NQP) capital loss carryforward expired.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">7. Management Fees and Other Transactions with Affiliates</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Management Fees</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Each Fund'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></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Each Fund's management fee consists of two components &#8211; a fund-level fee, based only on the amount of assets within each individual 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. </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The annual Fund-level fee, payable monthly, for each Fund is calculated according to the following schedules:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="92c5e297d22d44e79f1562fd769edf66" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 67%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Average Daily Managed Assets*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fund-Level Fee</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the first $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $250 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $500 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $1 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For managed assets over $2 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="d0b5ec9ceb5b44038434985237537b2c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">76</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="b196520a109b4db4aa2a74215f6a0ae3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey Municipal Value (NJV)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania Municipal Value (NPN)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 67%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Average Daily Managed Assets*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fund-Level Fee</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the first $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $250 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $500 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3625</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $1 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For managed assets over $2 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="5b5c171be1ee4db58bd6f0063c06dc54" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 67%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Average Daily Managed Assets*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fund-Level Fee</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the first $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $250 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $500 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $1 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $3 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For managed assets over $5 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The annual complex-level fee, payable monthly, for each Fund is calculated by multiplying the current complex-wide fee rate, determined according to the following schedule by the Fund's daily managed assets:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="999fab7dd9e94cc5bb2f98cebaae86e6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 67%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Complex-Level Managed Asset Breakpoint Level*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Effective Rate at Breakpoint Level</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$55 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.2000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$56 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1996</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$57 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1989</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$60 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1961</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$63 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1931</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$66 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1900</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$71 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1851</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$76 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1806</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$80 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1773</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$91 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1691</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$125 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1599</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$200 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1505</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 67%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$250 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1469</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 67%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$300 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.1445</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 0px"><br>
</div>

<table id="a273fc8b69e4450eb05e3114b7c94bb4" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 3.78%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 96.22%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the 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' 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'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 "eligible assets." Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of a determined amount (originally $2 billion) added to the Nuveen fund complex in connection with the Adviser's assumption of the management of the former First American Funds effective January 1, 2011. As of April 30, 2016, the complex-level fee for each Fund was 0.1629%.</div>
</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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 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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Other Transactions with Affiliates</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Each Fund is permitted to purchase or sell securities from or to certain other funds managed by the Adviser ("inter-fund trade") under specified conditions outlined in procedures adopted by the Board. These procedures have been designed to ensure that any inter-fund trade of securities by the Fund from or to another fund that is, or could be, considered an affiliate of the Fund under certain limited circumstances by virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7 of the 1940 Act. Further, as defined under these procedures, each inter-fund trade is effected at the current market price as provided by an independent pricing service. Unsettled</font></div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="2e4f43f3561c41b7bf51998fa43429f2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">77</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notes to Financial Statements </font>(continued)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">inter-fund trades as of the end of the reporting period are recognized as a component of "Receivable for investments sold" and/or "Payable for investments purchased" on the Statement of Assets and Liabilities, when applicable.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the current fiscal period, the following Funds engaged in inter-fund trades pursuant to these procedures as follows:</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="1c8e7f7035ea4cb3971ad6f94ce360ba" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 68.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Inter-Fund Trades</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 68.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Purchases</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">360,611</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">10,453</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.5%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Sales</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">8. Borrowing Arrangements</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Uncommitted Line of Credit</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">During the current fiscal period, the Funds participated in an unsecured bank line of credit ("Unsecured Credit Line") under which outstanding balances would bear interest at a variable rate. On December 31, 2015, (the only date utilized during the current fiscal period), the Funds borrowed the following amounts from the Unsecured Credit Line, each at an annualized interest rate of 1.68% on their respective outstanding balance.</font></div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="141b19ff4c3d4f2ea5e1c652903b5987" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Dividend</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Investment</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Municipal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Advantage</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Quality</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Value</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1.5%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 38.5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NXJ</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NJV</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NQP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 2%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">(NPN</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1.5%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">)</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 38.5%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Outstanding balance at December 31, 2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">7,112,240</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">467,186</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">6,039,683</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">61,528</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.5%; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Committed Line of Credit</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">During the current fiscal period, the Funds, along with certain other funds managed by the Adviser ("Participating Funds"), established a 364-day, $2.53 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for various purposes other than leveraging for investment purposes. A large portion of this facility's capacity (and its associated costs as described below) is currently dedicated for use by a small number of Participating Funds, which does not include any of the Funds covered by this shareholder report. The remaining capacity under the facility (and the corresponding portion of the facility's annual costs) is separately dedicated to most of the other open-end funds in the Nuveen fund family, along with a number of Nuveen closed-end funds, including all of the Funds covered by this shareholder report. The credit facility expires in July 2016 unless extended or renewed. </font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The credit facility has the following terms: a fee of 0.15% per annum on unused commitment amounts, and interest at a rate equal to the higher of (a) one-month LIBOR (London Inter-Bank Offered Rate) plus 1.25% per annum or (b) the Fed Funds rate plus 1.25% per annum on amounts borrowed. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of "Other expenses" on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility's aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each Participating Fund.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">During the current fiscal period, none of the Funds utilized this facility.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">9. Subsequent Events</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-STYLE: italic">Management Fees</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Effective August 1, 2016, the annual fund-level fee for each Fund, payable monthly, will be calculated according to the following schedule:</font></div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="5448639c62a54e9988aa27e90b64f410" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey Dividend Advantage (NXJ)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">New Jersey Municipal Value (NJV)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania Investment Quality (NQP)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Pennsylvania Municipal Value (NPN)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 34%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Average Daily Managed Assets*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fund-Level Fee</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fund-Level Fee</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the first $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">%</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $125 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4375</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3875</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $250 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $500 million</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3625</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $1 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.4000</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3500</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 34%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For the next $3 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3750</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3250</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 34%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">For managed assets over $5 billion</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3625</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 30%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt">0.3125</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="ef2f46dcf5e14c3a8f66edbf4f081176" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">78</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 18pt">Additional </font><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-SIZE: 18pt">Fund Information</font> </font><font style="FONT-WEIGHT: normal">(Unaudited)</font></div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="c20f9cd7b87a4d8891ffa9431bb9d63f" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Board of Trustees</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14.74%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">William Adams IV*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Mongo Cook **</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Jack B. Evans</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">William C. Hunter</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Albin F. Moschner***</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14.74%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">David J. Kundert</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">John K. Nelson</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">William J. Schneider</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Thomas S. Schreier, Jr.****</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Judith M. Stockdale</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Carole E. Stone</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14.74%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Terence J. Toth</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Margaret L. Wolff</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.06%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 14.74%">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="a9d5cb07e2a742ffbfc57751d97200e3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">*</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Interested Board Member.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">**</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Interested Board Member effective July 1, 2016.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">***</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Effective July 1, 2016.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 5%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">****</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Interested Board Member and retired from the Funds' Board of Directors/Trustees effective May 31, 2016.</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 95%">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="fb73ecadf29343b382fa7fdcf1345299" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 19.63%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fund Manager</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 18.17%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Custodian</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 17.43%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Legal Counsel</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16.12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Independent Registered</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Transfer Agent and</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 19.63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen Fund Advisors, LLC</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 18.17%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">State Street Bank</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 17.43%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Chapman and Cutler LLP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16.12%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Public Accounting Firm</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Shareholder Services</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 19.63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">333 West Wacker Drive</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 18.17%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">and Trust Company,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 17.43%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Chicago, IL 60603</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16.12%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">KPMG LLP</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">State Street Bank</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 19.63%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Chicago, IL 60606</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 18.17%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">One Lincoln Street,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 17.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16.12%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Chicago, IL 60601</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&amp; Trust Company</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 19.63%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 18.17%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Boston, MA 02111</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 17.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.14%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 16.12%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen Funds</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 19.63%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 18.17%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.15%">&#160;</td>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">P.O. Box 43071</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Providence, RI 02940-3071</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(800) 257-8787</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Quarterly Form N-Q Portfolio of Investments Information</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">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's Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC-0330 for room hours and operation.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Nuveen Funds' Proxy Voting Information</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen toll-free at (800) 257-8787 or on Nuveen's website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen toll free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">CEO Certification Disclosure</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Each Fund's Chief Executive Officer (CEO) has submitted to the New York Stock Exchange (NYSE) the annual CEO certification as required by Section 303A.12(a) of the NYSE Listed Company Manual. Each Fund has filed with the SEC the certification of its CEO and Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act.</font></div>

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</font><font style="FONT-FAMILY: Arial">Each Fund intends to repurchase, through its open-market share repurchase program, shares of its own common stock at such times and in such amounts as is deemed advisable. During the period covered by this report, each Fund repurchased shares of its common stock, as shown in the accompanying table. Any future repurchases will be reported to shareholders in the next annual or semi-annual report.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NXJ</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NJV</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NQP</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right">NPN</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Common shares repurchased</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">473,600</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">121,000</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">FINRA BrokerCheck</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">The Financial Industry Regulatory Authority (FINRA) provides information regarding the disciplinary history of FINRA member firms and associated investment professionals. This information as well as an investor brochure describing FINRA BrokerCheck is available to the public by calling the FINRA BrokerCheck Hotline (800) 289-9999 or by visiting www.FINRA.org.</font></div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">79</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 18pt">Glossary of Terms <font style="FONT-WEIGHT: bold">Used in this Report </font></font><font style="FONT-WEIGHT: normal">(Unaudited)</font></div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">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 "failed," with current holders receiving a formula-based interest rate until the next scheduled auction.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Annual Total Return: </font>This is a commonly used method to express an investment'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'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.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Duration: </font>Duration is a measure of the expected period over which a bond's principal and interest will be paid, and consequently is a measure of the sensitivity of a bond's or bond fund's value to changes when market interest rates change. Generally, the longer a bond's or fund's duration, the more the price of the bond or fund will change as interest rates change.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effective Leverage: </font>Effective leverage is a fund's effective economic leverage, and includes both regulatory leverage (see leverage) and the leverage effects of certain derivative investments in the fund'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.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Forward Interest Rate Swap: </font>A contractual agreement between two counterparties under which one party agrees to make periodic payments to the other for an agreed period of time based on a fixed rate, while the other party agrees to make periodic payments based on a floating rate of interest based on an underlying index. Alternatively, both series of cashflows to be exchanged could be calculated using floating rates of interest but floating rates that are based upon different underlying indexes.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">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.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">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. 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's par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an "inverse floater") 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' holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond's downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond's value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Leverage: </font>Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lipper New Jersey 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.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">80</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lipper Pennsylvania 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.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Asset Value (NAV) Per Share: </font>A fund's Net Assets is equal to its total assets (securities, cash, accrued earnings and receivables) less its total liabilities. NAV per share is equal to the fund's Net Assets divided by its number of shares outstanding.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">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's credit rating and thus its value.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Regulatory Leverage: </font>Regulatory leverage consists of preferred shares issued by or borrowings of a fund. Both of these are part of a fund's capital structure. Regulatory leverage is subject to asset coverage limits set in the Investment Company Act of 1940.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">S&amp;P Municipal Bond Index: </font>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">S&amp;P Municipal Bond New Jersey Index: </font>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade New Jersey municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">S&amp;P Municipal Bond Pennsylvania Index: </font>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Pennsylvania municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Investment Exposure: </font>Total investment exposure is a fund's assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund'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's issuance of floating rate securities.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Zero Coupon Bond: </font>A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
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<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Reinvest Automatically, Easily and Conveniently</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen makes reinvesting easy. A phone call is all it takes to set up your reinvestment account.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen Closed-End Funds Automatic Reinvestment Plan</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Easy and convenient</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">How shares are purchased</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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 as -set 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' 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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Flexible</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Call today to start reinvesting distributions</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">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.</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">82</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 18pt">Board </font><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-SIZE: 18pt">Members &amp; Officers</font><font style="FONT-WEIGHT: normal">&#160;</font></font><font style="FONT-WEIGHT: normal">(Unaudited)</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">The management of the Funds, including general supervision of the duties performed for the Funds by the Adviser, is the responsibility of the Board of Trustees of the Funds. The number of trustees of the Funds is set at twelve, effective July 1, 2016. None of the trustees who are not "interested" persons of the Funds (referred to herein as "independent trustees") has ever been a director or employee of, or consultant to, Nuveen or its affiliates. The names and business addresses of the trustees and officers of the Funds, their principal occupations and other affiliations during the past five years, the number of portfolios each oversees and other directorships they hold are set forth below.</div>

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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name,</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Position(s) Held</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year First</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Principal</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year of Birth</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">with the Funds</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Elected or</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Occupation(s)</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">of Portfolios</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">&amp; Address</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Appointed</div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Including other</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">in Fund&#160;Complex</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">and Term<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(1)</sup></div>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Directorships</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overseen by</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">During Past 5 Years</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Board Member</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Independent Board Members:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">WILLIAM J. SCHNEIDER</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1944</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Chairman and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Board Member</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">1996</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class III</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Chairman of Miller-Valentine Partners, a real estate investment company; Board Member of Med-America Health System and WDPR Public Radio station; formerly, Senior Partner and Chief Operating Officer (retired (2004) of Miller-Valentine Group; formerly, Board member, Business Advisory Council of the Cleveland Federal Reserve Bank and University of Dayton Business School Advisory Council; past Chair and Director, Dayton Development Coalition.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">JACK B. EVANS</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1948</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">1999</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class III</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">President, The Hall-Perrine Foundation, a private philanthropic corporation (since 1996); Director and Chairman, United Fire Group, a publicly held company; Director, The Gazette Company; Life Trustee of Coe College and the Iowa College Foundation; formerly, President Pro-Tem of the Board of Regents for the State of Iowa University System; formerly, Director, Alliant Energy; formerly, Director, Federal Reserve Bank of Chicago; formerly, President and Chief Operating Officer, SCI Financial Group, Inc., a regional financial services firm.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">WILLIAM C. HUNTER</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1948</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2004</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class I</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director (since 2004) of Xerox Corporation; Director (since 2005), and past President (2010-2014) Beta Gamma Sigma, Inc., The International Business Honor Society; Director of Wellmark, Inc. (since 2009); formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">DAVID J. KUNDERT</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1942</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2005</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class II</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Formerly, Director, Northwestern Mutual Wealth Management Company (2006-2013), retired (since 2004) as Chairman, JPMorgan Fleming Asset Management, President and CEO, Banc One Investment Advisors Corporation, and President, One Group Mutual Funds; prior thereto, Executive Vice President, Banc One Corporation and Chairman and CEO, Banc One Investment Management Group; Regent Emeritus, Member of Investment Committee, Luther College; member of the Wisconsin Bar Association; member of Board of Directors and Chair of Investment Committee, Greater Milwaukee Foundation; member of the Board of Directors (Milwaukee), College Possible; Board member of Milwaukee Repertory Theatre (since 2016).</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="d5c48c6ca8aa4ff09ff3021268102696" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">83</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board Members &amp; Officers </font>(Unaudited) (continued)</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="d44e1affa6e24b508317cfa1aa0de170" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Position(s) Held</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year First</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year of Birth</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">with the Funds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Elected or</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Occupation(s)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">of Portfolios</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">&amp; Address</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Appointed</div>
</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Including other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">in Fund&#160;Complex</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">and Term<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(1)</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Directorships</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overseen by</div>
</td>
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<tr>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">During Past 5 Years</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Board Member</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Independent Board Members (continued):</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">ALBIN F. MOSCHNER</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(2)</sup></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1952</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2016</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class III</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Founder and Chief Executive Officer, Northcroft Partners, LLC, a management consulting firm (since 2012); previously, held positions at Leap Wireless International, Inc., including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (1996-1997); formerly, various executive positions with Zenith Electronics Corporation (1991-1996). Director, USA Technologies, Inc., a provider of solutions and services to facilitate electronic payment transactions (since 2012); formerly, Director, Wintrust Financial Corporation (1996-2016).</div>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
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<tr>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">JOHN K. NELSON</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1962</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2013</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class II</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Member of Board of Directors of Core12 LLC (since 2008), a private firm which develops branding, marketing and communications strategies for clients; Director of The Curran Center for Catholic American Studies (since 2009) and The President's Council, Fordham University (since 2010); formerly, senior external advisor to the financial services practice of Deloitte Consulting LLP (2012- 2014): formerly, Chairman of the Board of Trustees of Marian University (2010 as trustee, 2011-2014 as Chairman); formerly, Chief Executive Officer of ABN AMRO N.V. North America, and Global Head of its Financial Markets Division (2007-2008); prior senior positions held at ABN AMRO include Corporate Executive Vice President and Head of Global Markets-the Americas (2006- 2007), CEO of Wholesale Banking North America and Global Head of Foreign Exchange and Futures Markets (2001-2006), and Regional Commercial Treasurer and Senior Vice President Trading &#8211; North America (1996-2001); formerly, Trustee at St. Edmund Preparatory School in New York City.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">JUDITH M. STOCKDALE</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1947</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">1997</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class I</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Board Member, Land Trust Alliance (since 2013) and U.S. Endowment for Forestry and Communities (since 2013); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation; prior thereto, Executive Director, Great Lakes Protection Fund (1990-1994).</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">CAROLE E. STONE</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1947</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2007</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class I</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Director, Chicago Board Options Exchange, Inc. (since 2006); Director, C2 Options Exchange, Incorporated (since 2009); Director, CBOE Holdings, Inc. (since 2010); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010).</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
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<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11.01%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">TERENCE J. TOTH</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1959</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11.01%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2008</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class II</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Managing Partner, Promus Capital (since 2008); Director, Fulcrum IT Service LLC (since 2010), Quality Control Corporation (since 2012) and LogicMark LLC (since 2012); member: Chicago Fellowship Board (since 2005), Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (since 2012), and chair of its investment committee; formerly, Director, Legal &amp; General Investment Management America, Inc. (2008-2013); formerly, CEO and President, Northern Trust Global Investments (2004-2007): Executive Vice President, Quantitative Management &amp; Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003-2007) and Northern Trust Hong Kong Board (1997-2004).</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="19c970b5c8c74fcbb724ada0b2ebe538" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">84</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="862ad8f781094c35b2a74b18e195635d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 15px">
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Position(s) Held</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year First</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year of Birth</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">with the Funds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Elected or</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Occupation(s)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">of Portfolios</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">&amp; Address</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Appointed</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Including other</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">in Fund Complex</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">and Term<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(1)</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Directorships</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overseen by</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">During Past 5 Years</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Board Member</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Independent Board Members (continued):</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">MARGARET L. WOLFF</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1955</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2016</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class I</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Member of the Board of Directors (since 2013) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher &amp; Flom LLP (Mergers &amp; Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York- Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%" colspan="2">Interested Board Members:</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">WILLIAM ADAMS IV</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(3)</sup></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1955</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2013</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class II</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Co-Chief Executive Officer and Co-President (since March 2016), formerly, Senior Executive Vice President, Global Structured Products (2010-2016) of Nuveen Investments, Inc.; Co-President of Nuveen Fund Advisors, LLC (since 2011); Co-Chief Executive Officer (since 2016), formerly, Senior Executive Vice President of Nuveen Securities, LLC; President (since 2011), of Nuveen Commodities Asset Management, LLC; Board Member of the Chicago Symphony Orchestra and of Gilda's Club Chicago; formerly, Executive Vice President, U.S. Structured Products, of Nuveen Investments, Inc. (1999-2010).</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">MARGO L. COOK</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(2)(3)</sup></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1964</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Board Member</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">2016</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Class III</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Co-Chief Executive Officer and Co-President (since March 2016), formerly, Senior Executive Vice President of Nuveen Investments, Inc; Co-Chief Executive Officer (since 2015), previously, Executive Vice President (2013-2015) of Nuveen Securities, LLC; Senior Executive Vice President of Nuveen Fund Advisors, LLC (Executive Vice President since 2011); formerly, Managing Director of Nuveen Commodities Asset Management, LLC (2011-2016); Chartered Financial Analyst.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">184</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="441710e538e34622ad107d8547a00c8a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Position(s) Held</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year First</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year of Birth</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">with the Funds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Elected or</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Occupation(s)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">of Portfolios</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">&amp; Address</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Appointed<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(4)</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">During Past 5 Years</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">in Fund Complex</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overseen</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">by Officer</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Officers of the Funds:</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">GIFFORD R. ZIMMERMAN</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1956</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Chief</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Administrative</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Officer</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.27%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">1988</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.43%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Managing Director (since 2002), and Assistant Secretary of Nuveen Securities, LLC; Managing Director (since 2004) and Assistant Secretary (since 1994) of Nuveen Investments, Inc.; Managing Director (since 2002), Assistant Secretary (since 1997) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2011); Managing Director and Assistant Secretary of Nuveen Investments Advisers, LLC (since 2002) and Symphony Asset Management LLC (since 2003); Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (since 2002), Santa Barbara Asset Management, LLC (since 2006), and of Winslow Capital Management, LLC, (since 2010); Vice President and Assistant Secretary (since 2013), formerly, Chief Administrative Officer and Chief Compliance Officer (2006-2013) of Nuveen Commodities Asset Management, LLC; Chartered Financial Analyst.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="010247984bd540fb95036e50b67ba361" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">85</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board Members &amp; Officers </font>(Unaudited) (continued)</div>

<div style="FONT-FAMILY: Arial; MARGIN-TOP: 8pt"><br>
</div>

<table id="fb2e83151c3e47a8a742c1fbab0c0e79" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Position(s) Held</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year First</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year of Birth</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">with the Funds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Elected or</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Occupation(s)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">of Portfolios</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">&amp; Address</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Appointed<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(4)</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">During Past 5 Years</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">in Fund Complex</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overseen</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">by Officer</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Officers of the Funds (continued):</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">CEDRIC H. ANTOSIEWICZ</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1962</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Vice President</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Managing Director of Nuveen Securities, LLC. (since 2004); Managing Director of Nuveen Fund Advisors, LLC (since 2014).</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">83</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">LORNA C. FERGUSON</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1945</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Vice President</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">1998</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Managing Director (since 2004) of Nuveen Investments Holdings, Inc.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">STEPHEN D. FOY</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1954</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Vice President</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">and Controller</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">1998</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Managing Director (since 2014), formerly, Senior Vice President (2013-2014) and Vice President (2005-2013) of Nuveen Fund Advisors, LLC; Chief Financial Officer of Nuveen Commodities Asset Management, LLC (since 2010); Managing Director (since 2016) of Nuveen Securities, LLC; Certified Public Accountant.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">NATHANIEL T. JONES</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1979</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Vice President</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">and Treasurer</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">2016</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Senior Vice President (since 2016), formerly, Vice President (2011-2016) of Nuveen Investments Holdings, Inc.; Chartered Financial Analyst.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">WALTER M. KELLY</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1970</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Chief Compliance</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Officer and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Vice President</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">2003</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Senior Vice President (since 2008) of Nuveen Investment Holdings, Inc.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">DAVID J. LAMB</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1963</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Vice President</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Senior Vice President of Nuveen Investments Holdings, Inc. (since 2006), Vice President prior to 2006.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">83</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">TINA M. LAZAR</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1961</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Vice President</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">2002</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Senior Vice President of Nuveen Investments Holdings, Inc. and Nuveen Securities, LLC.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#9632;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">KEVIN J. MCCARTHY</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1966</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Vice President</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">and Secretary</font></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Executive Vice President, Secretary and General Counsel (since March 2016), formerly, Managing Director and Assistant Secretary of Nuveen Investments, Inc.; Executive Vice President (since March 2016), formerly, Managing Director, and Assistant Secretary (since 2008) of Nuveen Securities, LLC; Executive Vice President and Secretary (since March 2016), formerly, Managing Director (2008-2016) and Assistant Secretary (2007-2016), and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Executive Vice President and Secretary (since March 2016), formerly, Managing Director, Assistant Secretary (2011-2016), and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC; Executive Vice President and Secretary of Nuveen Investments Advisers, LLC; Vice President (since 2007) and Secretary (since March 2016) of NWQ Investment Management Company, LLC, Symphony Asset Management LLC, Santa Barbara Asset Management, LLC, Winslow Capital Management, LLC (since 2010) and Tradewinds Global Investors, LLC (since 2016); Vice President (since 2010) and Secretary (since 2016), formerly, Assistant Secretary of Nuveen Commodities Asset Management, LLC.</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-FAMILY: Arial">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
</td>
</tr>
</table>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="bccc4a3243c64d7fb6a9df725b8450d7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; FONT-FAMILY: Arial; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 4%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">86</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 95%">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Nuveen</div>
</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; FONT-FAMILY: Arial; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-FAMILY: Arial"><br>
</div>

<table id="8ff7ac591b1648d4ad12ec1f0c5dd6e7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name,</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Position(s) Held</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year First</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Principal</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Year of Birth</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">with the Funds</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Elected or</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Occupation(s)</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">of Portfolios</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">&amp; Address</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Appointed<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(4)</sup></div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">During Past 5 Years</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">in Fund Complex</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overseen</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: left">by Officer</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 13%">&#160;</td>
</tr>

<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Officers of the Funds (continued):</div>
</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: top; WIDTH: 1.03%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">KATHLEEN L. PRUDHOMME</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1953</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">9o1 Marquette Avenue</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Minneapolis, MN 554o2</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Vice President and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Assistant Secretary</font></div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Managing Director, Assistant Secretary and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC; Managing Director and Assistant Secretary (since 2011) of Nuveen Securities, LLC; formerly, Deputy General Counsel, FAF Advisors, Inc. (2004-2010).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">JOEL T. SLAGER</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">1978</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">333 W. Wacker Drive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Chicago, IL 6o6o6</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial">Vice President and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Arial, serif"><br>
</font><font style="FONT-FAMILY: Arial">Assistant Secretary</font></div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Fund Tax Director for Nuveen Funds (since 2013); previously, Vice President of Morgan Stanley Investment Management, Inc., Assistant Treasurer of the Morgan Stanley Funds (from 2010 to 2013).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">185</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(1)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">The Board of Trustees is divided into three classes, Class I, Class II, and Class III, with each being elected to serve until the third succeeding annual shareholders' meeting subsequent to its election or thereafter in each case when its respective successors are duly elected or appointed, except two board members are elected by the holders of Preferred Shares, when applicable, to serve until the next annual shareholders' meeting subsequent to its election or thereafter in each case when its respective successors are duly elected or appointed. The year first elected or appointed represents the year in which the board member was first elected or appointed to any fund in the Nuveen Complex.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(2)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">On June 22, 2016, Ms. Cook and Mr. Moschner were appointed as Board members, effective July 1, 2016.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(3)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">"Interested person" as defined in the 1940 Act, by reason of his position with Nuveen Investments, Inc. and certain of its subsidiaries, which are affiliates of the Nuveen Funds.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(4)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Officers serve one year terms through August of each year. The year first elected or appointed represents the year in which the Officer was first elected or appointed to any fund in the Nuveen Complex.</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: right">Nuveen</div>
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen:</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 72pt; MARGIN-TOP: 8pt">Serving Investors for Generations</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 0px">Since 1898, financial advisors and their clients have relied on Nuveen 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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 0px">Focused on meeting investor needs.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Nuveen helps secure the long-term goals of individual investors and the advisors who serve them. As an operating division of TIAA Global Asset Management, Nuveen provides access to investment expertise from leading asset managers and solutions across traditional and alternative asset classes. Built on more than a century of industry leadership, Nuveen's teams of experts align with clients' specific financial needs and goals, demonstrating commitment to advisors and investors through market perspectives and wealth management and portfolio advisory services. Nuveen manages more than $229 billion in assets as of March 31, 2016.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 0px">Find out how we can help you.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">To learn more about how the products and services of Nuveen 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, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Learn more about Nuveen Funds at: <font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">www.nuveen.com/cef</font></div>

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<div style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">Distributed by </font>Nuveen Investments, LLC | 333 West Wacker Drive | Chicago, IL 60606 | www.nuveen.com</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right; MARGIN-TOP: 12pt">EAN-A-0416D 16843-INV-Y-06/17</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: block; TEXT-INDENT: 0pt">ITEM 2. CODE OF ETHICS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant&#8217;s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the Code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/CEF/Shareholder/FundGovernance.aspx. (To view the code,&#160;click on Code of Conduct.)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The registrant&#8217;s Board of Directors or Trustees (&#8220;Board&#8221;) determined that the registrant has at least one &#8220;audit committee financial expert&#8221; (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant&#8217;s audit committee financial experts are Carole E. Stone and Jack B. Evans, who are &#8220;independent&#8221; for purposes of Item 3 of Form N-CSR.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State&#8217;s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State&#8217;s bond-related disclosure documents and certifying that they fairly presented the State&#8217;s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State&#8217;s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone&#8217;s position on the boards of these entities and as a member of both CBOE Holdings&#8217; Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (&#8220;SCI&#8221;). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the &#8220;CFO&#8221;) and actively supervised the CFO&#8217;s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI&#8217;s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Pennsylvania Investment Quality Municipal Fund</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The following tables show the amount of fees that KPMG LLP, the Funds&#8217; auditor, billed to the Funds&#8217; during the Funds&#8217; last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that KPMG LLP provided to the Funds, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the &#8220;pre-approval exception&#8221;). The preapproval exception for services provided directly to the Funds waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Funds during the fiscal year in which the services are provided; (B) the Funds did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee&#8217;s attention, and the Committee (or its delegate) approves the services before the audit is completed.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee).</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SERVICES THAT THE FUND&#8217;S AUDITOR BILLED TO THE FUND</div>

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

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<table id="850db05710674c13b7a95e8d99071b77" style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Audit Fees Billed</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Audit-Related Fees</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Tax Fees</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">All Other Fees</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 20px">
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Fiscal Year Ended</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Billed to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Billed to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">3</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Billed to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">4</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">April 30, 2016</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">23,270</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">987</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Percentage approved</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pursuant to</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pre-approval</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">exception</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">April 30, 2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">22,500</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Percentage approved</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pursuant to</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pre-approval</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">exception</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="16">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> "Audit Fees" are the aggregate fees billed for professional services for the audit of the Fund's annual financial statements and services provided in</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">connection with statutory and regulatory filings or engagements.</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="12">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup> "Audit Related Fees" are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="12">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">financial statements that are not reported under "Audit Fees". These fees include offerings related to the Fund's common shares and leverage.</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="12">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">3</sup> "Tax Fees" are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="12">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculation performed by the principal accountant.</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="12">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">4</sup> "All Other Fees" are the aggregate fees billed for products and services other than "Audit Fees", "Audit-Related Fees" and "Tax Fees". These fees</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">represent all engagements pertaining to the Fund's use of leverage.</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

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

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SERVICES THAT THE FUND&#8217;S AUDITOR BILLED TO THE ADVISER AND AFFILIATED FUND SERVICE PROVIDERS</div>

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

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The following tables show the amount of fees billed by KPMG LLP to Nuveen Fund Advisors, LLC (formerly Nuveen Fund Advisors, Inc.) (the &#8220;Adviser&#8221;), and any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (&#8220;Affiliated Fund Service Provider&#8221;), for engagements directly related to the Fund&#8217;s operations and financial reporting, during the Fund&#8217;s last two full fiscal years.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The tables also show the percentage of fees subject to the pre-approval exception. The pre-approval exception for services provided to the Adviser and any Affiliated Fund Service Provider (other than audit, review or attest services) waives the pre-approval requirement if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid to KPMG LLP by the Fund, the Adviser and Affiliated Fund Service Providers during the fiscal year in which the services are provided that would have to be pre-approved by the Audit Committee; (B) the Fund did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee&#8217;s attention, and the Committee (or its delegate) approves the services before the Fund&#8217;s audit is completed.</div>
</div>

<div>&#160;</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<table id="9cbe5c5e77a24f9a9316f76bfaa1f7b7" style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Audit-Related Fees</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Tax Fees Billed to</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">All Other Fees</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Billed to Adviser and</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Adviser and</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Billed to Adviser</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Affiliated Fund</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Affiliated Fund</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">and Affiliated Fund</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Fiscal Year Ended</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Service Providers</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Service Providers</div>
</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Service Providers</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">April 30, 2016</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Percentage approved</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">0%</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">0%</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">0%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pursuant to</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pre-approval</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">exception</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">April 30, 2015</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Percentage approved</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">0%</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">0%</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">0%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pursuant to</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">pre-approval</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">exception</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">&#160;</td>
</tr>
</table>
</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">NON-AUDIT SERVICES</div>

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

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The following table shows the amount of fees that KPMG LLP billed during the Fund&#8217;s last two full fiscal years for non-audit services. The Audit Committee is required to pre-approve non- audit services that KPMG LLP provides to the Adviser and any Affiliated Fund Services Provider, if the engagement related directly to the Fund&#8217;s operations and financial reporting (except for those subject to the pre-approval exception described above). The Audit Committee requested and received information from KPMG LLP about any non-audit services that KPMG LLP rendered during the Fund&#8217;s last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating KPMG LLP&#8217;s independence.</font><br>
</div>

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

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<table id="0e43919541d34ea79267368caf6d00ce" style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Total Non-Audit Fees</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">billed to Adviser and</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Affiliated Fund Service</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Total Non-Audit Fees</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Providers (engagements</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">billed to Adviser and</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">related directly to the</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Affiliated Fund Service</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Total Non-Audit Fees</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">operations and financial</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Providers (all other</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: right; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Fiscal Year Ended</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Billed to Fund</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">reporting of the Fund)</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">engagements)</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Total</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">April 30, 2016</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 987</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 987</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">April 30, 2015</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">"Non-Audit Fees billed to Fund" for both fiscal year ends represent "Tax Fees" and "All Other Fees" billed to Fund in their respective</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">amounts from the previous table.</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.74%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Less than 50 percent of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">fiscal year were attributed to work performed by persons other than the principal accountant's full-time, permanent employees.</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">&#160;</td>
</tr>
</table>

<br>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Fund by the Fund&#8217;s independent accountants and (ii) all audit and non-audit services to be performed by the Fund&#8217;s independent accountants for the Affiliated Fund Service Providers with respect to operations and financial reporting of the Fund. Regarding tax and research projects conducted by the independent accountants for the Fund and Affiliated Fund Service Providers (with respect to operations and financial reports of the Fund) such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee chairman for his verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.</div>

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

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The registrant&#8217;s Board has a separately designated Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78c(a)(58)(A)). The members of the audit committee are Jack B. Evans, David J. Kundert, John K. Nelson, Carole E. Stone and Terence J. Toth.</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 6. SCHEDULE OF INVESTMENTS.</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">a) See Portfolio of Investments in Item 1.</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">b) Not applicable.</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Fund Advisors, LLC is the registrant&#8217;s investment adviser (also referred to as the &#8220;Adviser&#8221;). The Adviser is responsible for the on-going monitoring of the Fund&#8217;s investment portfolio, managing the Fund&#8217;s business affairs and providing certain clerical, bookkeeping and administrative services. The Adviser has engaged Nuveen Asset Management, LLC (&#8220;Sub-Adviser&#8221;) as Sub-Adviser to provide discretionary investment advisory services. As part of these services, the Adviser has delegated to the Sub-Adviser the full responsibility for proxy voting on securities held in the registrant&#8217;s portfolio and related duties in accordance with the Sub-Adviser&#8217;s policies and procedures. The Adviser periodically monitors the Sub-Adviser&#8217;s voting to ensure that it is carrying out its duties. The Sub-Adviser&#8217;s proxy voting policies and procedures are attached to this filing as an exhibit and incorporated herein by reference.</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">ITEM 8.</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Fund Advisors, LLC is the registrant&#8217;s investment adviser (also referred to as the &#8220;Adviser&#8221;).&#160; The Adviser is responsible for the selection and on-going monitoring of the Fund&#8217;s investment portfolio, managing the Fund&#8217;s business affairs and providing certain clerical, bookkeeping and administrative services.&#160; The Adviser has engaged Nuveen Asset Management, LLC (&#8220;Nuveen Asset Management&#8221; or &#8220;Sub-Adviser&#8221;) as Sub-Adviser to provide discretionary investment advisory services. The following section provides information on the portfolio manager at the Sub-Adviser:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Item 8(a)(1). </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">PORTFOLIO MANAGER BIOGRAPHY</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Paul Brennan, CFA, CPA, manages several Nuveen municipal national and state mutual funds and closed-end bond funds.&#160; Paul began his career in the investment business in 1991, as a municipal credit analyst for Flagship Financial, before becoming a portfolio manager in 1994.&#160; He joined Nuveen Investments in 1997, when Nuveen acquired Flagship Financial that year.&#160;&#160; He earned his B.S. in Accountancy and Finance from Wright State University.&#160; He is a CPA, has earned the Chartered Financial Analyst (CFA) designation, and currently sits on the Nuveen Asset Management Investment Management Committee.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Item 8(a)(2). </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">OTHER ACCOUNTS MANAGED BY THE PORTFOLIO MANAGER</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Other Accounts Managed.</font> In addition to managing the registrant, the portfolio manager is also primarily responsible for the day-to-day portfolio management of the following accounts:</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<table id="e8009f5b3e6e49448d9f848bf8c7005a" style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Portfolio Manager</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Type&#160;of&#160;Account<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><br>
</font> Managed</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Number&#160;of<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><br>
</font> Accounts</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Assets*</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Paul Brennan</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Registered Investment Company</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">14</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$25.22 billion</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other Pooled Investment Vehicles</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">1</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$53 million</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other Accounts</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$54 million</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
<table id="d089c5a5c38a48639b8a7d9f726322d3" class="DSPFListTable" style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; VERTICAL-ALIGN: top; WIDTH: 18pt; align: right">*</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Assets are as of April 30, 2016.&#160; None of the assets in these accounts are subject to an advisory fee based on performance.</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">POTENTIAL MATERIAL CONFLICTS OF INTEREST</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Actual or apparent conflicts of interest may arise when a portfolio manager has day-to-day management responsibilities with respect to more than one account. More specifically, portfolio managers who manage multiple accounts are presented a number of potential conflicts, including, among others, those discussed below.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The management of multiple accounts may result in a portfolio manager devoting unequal time and attention to the management of each account. Nuveen Asset Management seeks to manage such competing interests for the time and attention of portfolio managers by having portfolio managers focus on a particular investment discipline. Most accounts managed by a portfolio manager in a particular investment strategy are managed using the same investment models.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">If a portfolio manager identifies a limited investment opportunity which may be suitable for more than one account, an account may not be able to take full advantage of that opportunity due to an allocation of filled purchase or sale orders across all eligible accounts. To deal with these situations, Nuveen Asset Management has adopted procedures for allocating limited opportunities across multiple accounts.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">With respect to many of its clients&#8217; accounts, Nuveen Asset Management determines which broker to use to execute transaction orders, consistent with its duty to seek best execution of the transaction. However, with respect to certain other accounts, Nuveen Asset Management may be limited by the client with respect to the selection of brokers or may be instructed to direct trades through a particular broker. In these cases, Nuveen Asset Management may place separate, non-simultaneous, transactions for a Fund and other accounts which may temporarily affect the market price of the security or the execution of the transaction, or both, to the detriment of the Fund or the other accounts.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Some clients are subject to different regulations. As a consequence of this difference in regulatory requirements, some clients may not be permitted to engage in all the investment techniques or transactions or to engage in these transactions to the same extent as the other accounts managed by the portfolio manager. Finally, the appearance of a conflict of interest may arise where Nuveen Asset Management has an incentive, such as a performance-based management fee, which relates to the management of some accounts, with respect to which a portfolio manager has day-to-day management responsibilities.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Asset Management has adopted certain compliance procedures which are designed to address these types of conflicts common among investment managers. However, there is no guarantee that such procedures will detect each and every situation in which a conflict arises.</div>

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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Item 8(a)(3). FUND MANAGER COMPENSATION</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Portfolio manager compensation consists primarily of base pay, an annual cash bonus and long term incentive payments.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Base pay.</font> Base pay is determined based upon an analysis of the portfolio manager&#8217;s general performance, experience, and market levels of base pay for such position.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Annual cash bonus.</font>&#160; The Fund&#8217;s portfolio managers are eligible for an annual cash bonus based on investment performance, qualitative evaluation and financial performance of Nuveen Asset Management.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">A portion of each portfolio manager&#8217;s annual cash bonus is based on the Fund&#8217;s investment performance, generally measured over the past one- and three or five-year periods unless the portfolio manager&#8217;s tenure is shorter. Investment performance for the Fund generally is determined by evaluating the Fund&#8217;s performance relative to its benchmark(s) and/or Lipper industry peer group.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">A portion of the cash bonus is based on a qualitative evaluation made by each portfolio manager&#8217;s supervisor taking into consideration a number of factors, including the portfolio manager&#8217;s team collaboration, expense management, support of personnel responsible for asset growth, and his or her compliance with Nuveen Asset Management&#8217;s policies and procedures.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The final factor influencing a portfolio manager&#8217;s cash bonus is the financial performance of Nuveen Asset Management based on its operating earnings.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Long-term incentive compensation</font>.&#160; Certain key employees of Nuveen Investments and its affiliates, including certain portfolio managers, participate in a Long-Term Performance Plan designed to provide compensation opportunities that links a portion of each participant&#8217;s compensation to Nuveen Investments&#8217; financial and operational performance.&#160; In addition, certain key employees of Nuveen Asset Management, including certain portfolio managers, have received profits interests in Nuveen Asset Management which entitle their holders to participate in the firm&#8217;s growth over time.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">There are generally no differences between the methods used to determine compensation with respect to the Fund and the Other Accounts shown in the table above.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Item 8(a)(4). </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">OWNERSHIP OF NQP AS OF APRIL 30, 2016</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Name of Portfolio Manager</div>
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<div>None</div>
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<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">$1 - $10,000</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">$10,001-$50,000</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">$50,001-$100,000</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">$100,001-$500,000</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">$500,001-$1,000,000</div>
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<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 13%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Over $1,000,000</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt">Paul Brennan</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">X</div>
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<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 13%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 16%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</div>

<div><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Period*</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(a)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(b)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(c)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(d)*</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">TOTAL NUMBER OF</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">AVERAGE</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">TOTAL NUMBER OF SHARES</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">MAXIMUM NUMBER (OR</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">SHARES (OR</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PRICE</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(OR UNITS) PURCHASED AS</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">APPROXIMATE DOLLAR VALUE) OF</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">UNITS)</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PAID PER</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PART OF PUBLICLY</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">SHARES (OR UNITS) THAT MAY YET</div>
</td>
</tr>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PURCHASED</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">SHARE (OR</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">ANNOUNCED PLANS OR</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">BE PURCHASED UNDER THE PLANS OR</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">UNIT)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PROGRAMS</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PROGRAMS</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">MAY 1-31, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: "></td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160; &#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
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<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">JUNE 1-30, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160; 33,400</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$13.11</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">33,400</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,752,100</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">JULY 1-31, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160; 46,900</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$13.14</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">46,900</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,705,200</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">AUGUST 1-31, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;27,200</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$13.12</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">27,200</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,752,800</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">SEPTEMBER 1-30, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160; 13,500</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">$13.12</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">13,500</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 15%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 15%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 25%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 25%">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">OCTOBER 1-31, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 15%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 15%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 25%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 25%">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">NOVEMBER 1-30, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">DECEMBER 1-31, 2015</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">JANUARY 1-31, 2016</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 15%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 15%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 25%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 25%">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">FEBRUARY 1-29, 2016</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">MARCH 1-31, 2016</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">APRIL 1-30, 2016</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3,739,300</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 20.37%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">TOTAL</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">121,000</div>
</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 15%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 25%; BORDER-LEFT-COLOR: ">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">* The registrant's repurchase program, for the repurchase of 3,790,000 shares, was authorized August 6, 2014. The program was reauthorized for a maximum repurchase amount of </div>

<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160; 3,780,000 shares on August 4, 2015. Any repurchases made by the registrant pursuant to the program were made through open-market transactions.</div>

<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant&#8217;s Board implemented after the registrant last provided disclosure in response to this Item.</div>

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</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 11. CONTROLS AND PROCEDURES.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">The registrant&#8217;s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant&#8217;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;) (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 &#8220;Exchange Act&#8221;) (17 CFR 240.13a-15(b) or 240.15d-15(b)).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">There were no changes in the registrant&#8217;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&#8217;s internal control over financial reporting.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 12. EXHIBITS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">File the exhibits listed below as part of this Form.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable because the code is posted on registrant&#8217;s website at www.nuveen.com/CEF/Shareholder/FundGovernance.aspx and there were no amendments during the period covered by this report. (To view the code, click on&#160;Code of Conduct.)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">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: Ex-99.CERT Attached hereto.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">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 report by or on behalf of the registrant to 10 or more persons. Not applicable.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">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 &#8220;filed&#8221; 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. Ex-99.906 CERT attached hereto.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Registrant) <font style="TEXT-DECORATION: underline; DISPLAY: inline">Nuveen Pennsylvania Investment Quality Municipal Fund</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Kevin J. McCarthy</font></div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Vice President and Secretary</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">July 7,&#160;2016</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Gifford R. Zimmerman</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Gifford R. Zimmerman</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date: <font style="TEXT-DECORATION: underline; DISPLAY: inline">July 7,&#160;2016</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Stephen D. Foy</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Stephen D. Foy</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Vice President and Controller</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(principal financial officer)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">July 7, 2016</font></div>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>ex99cert.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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<!--Licensed to: fgs
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I, Gifford R. Zimmerman, certify that:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I have reviewed this report on Form N-CSR of Nuveen Pennsylvania Investment Quality Municipal Fund;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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</div>
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<div>
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<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(d)&#160;&#160;</div>
</td>
<td>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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<div>
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<td style="WIDTH: 36pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">5.&#160;&#160;</div>
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<td>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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):</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

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<tr valign="top">
<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(a)&#160;&#160;</div>
</td>
<td>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div>
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<tr valign="top">
<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(b)&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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.</div>
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</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;July 7, 2016</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">/s/ Gifford R. Zimmerman</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Gifford R. Zimmerman</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Chief Administrative Officer</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(principal executive officer)</div>

<br>
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<div style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; WIDTH: 100%"></div>

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<div id="GLHDR" style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: right; WIDTH: 100%"></div>
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<br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I, Stephen D. Foy, certify that:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I have reviewed this report on Form N-CSR of Nuveen Pennsylvania Investment Quality Municipal Fund;</div>
</td>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

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<tr valign="top">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">2.&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
</td>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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:</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

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

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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;</div>
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<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(c)&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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</div>
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</tr>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div>
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<tr valign="top">
<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(d)&#160;&#160;</div>
</td>
<td>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

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<tr valign="top">
<td style="WIDTH: 36pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">5.&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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):</div>
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</table>
</div>

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

<div>
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<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(a)&#160;&#160;</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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</div>
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</div>

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

<div>
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<tr valign="top">
<td style="WIDTH: 54pt" align="right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(b)&#160;&#160;</div>
</td>
<td>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">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.</div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;July 7, 2016</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">/s/ Stephen D. Foy</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Stephen D. Foy</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Vice President and Controller</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(principal financial officer)</div>

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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>ex99cert906.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<html>
<head>
<title></title>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Certification Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002; provided by the Chief Executive Officer and Chief Financial Officer, based on each such officer's knowledge and belief.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The undersigned officers of Nuveen Pennsylvania Investment Quality Municipal Fund (the &#8220;Fund&#8221;) certify that, to the best of each such officer's knowledge and belief:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The Form N-CSR of the Fund for the period ended&#160;April 30, 2016&#160;(the&#160;&#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;July 7, 2016</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">/s/ Gifford R. Zimmerman</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Gifford R. Zimmerman</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Chief Administrative Officer</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(principal executive officer)</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">/s/ Stephen D. Foy</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Stephen D. Foy</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Vice President, Controller</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(principal financial officer)</div>

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<DOCUMENT>
<TYPE>EX-99.PROXYPOLICY
<SEQUENCE>4
<FILENAME>ex99proxypolicy.htm
<DESCRIPTION>PROXY POLICY
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: fgs
    Document created using EDGARfilings PROfile 4.0.0.0
    Copyright 1995 - 2016 Summit Financial Printing, LLC.  All rights reserved.-->
</head>
<body style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff" text="#000000">
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Asset Management, LLC</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Proxy Voting Policies and Procedures</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">The following relationships or circumstances may give rise to conflicts of interest<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">2</font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The issuer or proxy proponent (e.g., a special interest group) is TIAA-CREF, the ultimate principal owner of NAM, or any of its affiliates.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The issuer is an entity in which an executive officer of NAM or a spouse or domestic partner of any such executive officer is or was (within the past three years of the proxy vote) an executive officer or director.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The issuer is a registered or unregistered fund for which NAM or another Nuveen adviser serves as investment adviser or sub-adviser.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Any other circumstances that NAM is aware of where NAM&#8217;s duty to serve its clients&#8217; interests, typically referred to as its &#8220;duty of loyalty,&#8221; could be materially compromised.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">NAM will vote proxies in the best interest of its clients regardless of such real or perceived conflicts of interest. By adopting ISS policies, NAM believes the risk related to conflicts will be minimized.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">To further minimize this risk, Compliance will review ISS&#8217; conflict avoidance policy at least annually to ensure that it adequately addresses both the actual and perceived conflicts of interest the proxy voting service may face.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">A conflict of interest shall not be considered material for the purposes of these Policies and Procedures with respect to a specific vote or circumstance if the matter to be voted on relates to a restructuring of the terms of existing securities or the issuance of new securities or a similar matter arising out of the holding of securities, other than common equity, in the context of a bankruptcy or threatened bankruptcy of the issuer, even if a conflict described in III.B.1.a.-d is present.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">In the event that ISS faces a material conflict of interest with respect to a specific vote, the PVC shall direct ISS how to vote. The PVC shall receive voting direction from appropriate investment personnel. Before doing so, the PVC will consult with Legal to confirm that NAM faces no material conflicts of its own with respect to the specific proxy vote.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">If Legal concludes that a material conflict does exist for NAM, the PVC will recommend to NAM&#8217;s Compliance Committee or designee a course of action designed to address the conflict. Such actions could include, but are not limited to:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">Obtaining instructions from the affected client(s) on how to vote the proxy;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">Disclosing the conflict to the affected client(s) and seeking their consent to permit NAM to vote the proxy;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">Voting in proportion to the other shareholders;</div>
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<td>Recusing the individual with the actual or potential conflict of interest from all discussion or consideration of the matter, if the material conflict is due to such person&#8217;s actual or potential conflict of interest; or</td>
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<td>Following the recommendation of a different independent third party.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">In addition to all of the above-mentioned and other conflicts, the Head of Equity Research, NGO and any member of the PVC must notify NAM&#8217;s Chief Compliance Officer (&#8220;CCO&#8221;) of any direct, indirect or perceived improper influence exerted by any employee, officer or director within the MDP affiliate or Fund complex with regard to how NAM should vote proxies. NAM Compliance will investigate any such allegations and will report the findings to NAM&#8217;s Compliance Committee. If it is determined that improper influence was attempted, appropriate action shall be taken. Such appropriate action may include disciplinary action, notification of the appropriate senior managers within the MDP affiliate, or notification of the appropriate regulatory authorities. In all cases, NAM will not consider any improper influence in determining how to vote proxies, and will vote in the best interests of clients.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">C.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Proxy Vote Override.&#160;&#160;</font>From time to time, a portfolio manager of an Account (a &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Portfolio Manager</font>&#8221;) may initiate action to override ISS&#8217;s recommendation for a particular vote. Any such override by a NAM Portfolio Manager (but not a sub-adviser Portfolio Manager) shall </div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">be reviewed by NAM&#8217;s Legal Department for material conflicts. If the Legal Department determines that no material conflicts exist, the approval of one member of the PVC shall authorize the override.&#160;&#160;If a material conflict exists, the conflict and, ultimately, the override recommendation will be addressed pursuant to the procedures described above under &#8220;Conflicts of Interest.&#8221;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">In order to generate incremental revenue, some clients may participate in a securities lending program.&#160;&#160;If a client has elected to participate in the lending program then it will not have the right to vote the proxies of any securities that are on loan as of the shareholder meeting record date.&#160;&#160;A client, or a Portfolio Manager, may place restrictions on loaning securities and/or recall a security on loan at any time.&#160;&#160;Such actions must be affected prior to the record date for a meeting if the purpose for the restriction or recall is to secure the vote.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">Portfolio Managers and/or analysts who become aware of upcoming proxy issues relating to any securities in portfolios they manage, or issuers they follow, will consider the desirability of recalling the affected securities that are on loan or restricting the affected securities prior to the record date for the matter. If the proxy issue is determined to be material, and the determination is made prior to the shareholder meeting record date the Portfolio Manager(s) will contact the Securities Lending Agent to recall securities on loan or restrict the loaning of any security held in any portfolio they manage, if they determine that it is in the best interest of shareholders to do so.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">E.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Proxy Voting for ERISA Clients.&#160;&#160;</font>If a proxy voting issue arises for an ERISA client, NAM is prohibited from voting shares with respect to any issue advanced by a party in interest of the ERISA client, and will rely on its ERISA clients to inform NAM of any actual or perceived client conflicts.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">F.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Proxy Voting Records.&#160;&#160;</font>As required by Rule 204-2 of the Investment Advisers Act of 1940, NAM shall make and retain five types of records relating to proxy voting; (1) proxy voting policies and procedures; (2) proxy statements received for client and fund securities; (3) records of votes cast on behalf of clients and funds; (4) records of written requests for proxy voting information and written responses from NAM to either a written or oral request; and (5) any documents prepared by the adviser that were material to making a proxy voting decision or that memorialized the basis for the decision.&#160;&#160;NAM may rely on&#160;ISS to make and retain on NAM&#8217;s behalf records pertaining to the rule.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">G.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Fund of Funds Provision</font>.&#160;&#160;In instances where NAM provides investment advice to a fund of funds that acquires shares of affiliated funds or three percent or more of the outstanding voting securities of an unaffiliated fund, the acquiring fund shall vote the shares in </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: Times New Roman; DISPLAY: inline">the same proportion as the vote of all other shareholders of the acquired fund.&#160;&#160;If compliance with this policy results in a vote of any shares in </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">a manner different than the ISS recommendation, such vote will not require compliance with the Proxy Vote Override procedures set forth above.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">H.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Legacy Securities.&#160;&#160;</font>To the extent that NAM receives proxies for securities that are transferred into an Account&#8217;s portfolio that were not recommended or selected by it and are sold or expected to be sold promptly in an orderly manner (&#8220;legacy securities&#8221;), NAM will generally instruct ISS to refrain from voting such proxies. In such circumstances, since legacy securities are expected to be sold promptly, voting proxies on such securities would not further NAM&#8217;s interest in maximizing the value of client investments. NAM may agree to an institutional account&#8217;s special request to vote a legacy security proxy, and would instruct ISS to vote such proxy in accordance with its guidelines.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">I.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Terminated Accounts.</font>&#160;&#160;Proxies received after the termination date of an Account generally will not be voted.&#160;&#160;An exception will be made if the record date is for a period in which an Account was under management or if a separately managed account (&#8220;SMA&#8221;) custodian failed to remove the account&#8217;s holdings from its aggregated voting list.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">J.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Non-votes.&#160;&#160;</font>NGO shall be responsible for obtaining reasonable assurance that proxies are voted and submitted in a timely manner.&#160;&#160;It should not be considered a breach of this responsibility if NAM does not receive a proxy from ISS or a custodian with adequate time to analyze and direct to vote or vote a proxy by the required voting deadline.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 72pt">NAM may determine not to vote proxies associated with the securities of any issuer if as a result of voting, subsequent purchases or sales of such securities would be blocked. However, NAM may decide, on an individual security basis that it is in the best interests of its clients to vote the proxy associated with such a security, taking into account the loss of liquidity.&#160;&#160;In addition, NAM may not to vote proxies where the voting would in NAM&#8217;s judgment result in some other financial, legal, regulatory disability or burden to the client (such as imputing control with respect to the issuer) or subject to resolution of any conflict of interest as provided herein, to NAM.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 27pt">In the case of SMAs, NAM may determine not to vote securities where voting would require the transfer of the security to another custodian designated by the issuer.&#160;&#160;Such transfer is generally outside the scope of NAM&#8217;s authority and may result in significant operational limitations on NAM&#8217;s ability to conduct transactions relating to the securities during the period of transfer.&#160;&#160;From time to time, situations may arise (operational or otherwise) that prevent NAM from voting proxies after reasonable attempts have been made.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">The PVC shall maintain a review schedule. The schedule shall include reviews of the proxy voting policy (including the policies of any sub-adviser engaged by NAM), the proxy voting record, account maintenance, and other reviews as deemed appropriate by the PVC. The PVC shall review the schedule at least annually.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">The PVC will report to NAM&#8217;s Compliance Committee with respect to all identified conflicts and how they were addressed. These reports will include all Accounts, including those that are sub-advised.&#160;&#160;NAM also shall provide the Funds that it sub-advises with information necessary for preparing Form N-PX.</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">L.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Vote Disclosure to Clients.&#160;&#160;</font>NAM&#8217;s institutional and SMA clients can contact their relationship manager for more information on NAM&#8217;s policies and the proxy voting record for their account. The information available includes name of issuer, ticker/CUSIP, shareholder meeting date, description of item and NAM&#8217;s vote.</div>

<div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">IV.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Policy Owner</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">PVC</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">V.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Responsible Parties</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">PVC</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">NGO</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Compliance</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Legal Department</div>

<div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">As amended:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3/1/13</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">6/5/14</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">10/27/14</div>

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

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

<div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">6</div>

<div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
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end
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>fsc.jpg
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end
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<DOCUMENT>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>njv.jpg
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end
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