| Portfolio of Investments (Unaudited) | ||||
| Nuveen Missouri Premium Income Municipal Fund (NOM) | ||||
| February 28, 2010 | ||||
| Principal | Optional Call | |||
| Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value |
| Consumer Staples – 3.3% (2.1% of Total Investments) | ||||
| $ 1,000 | Missouri Development Finance Board, Solid Waste Disposal Revenue Bonds, Procter and Gamble | No Opt. Call | AA– | $ 1,031,830 |
| Inc., Series 1999, 5.200%, 3/15/29 (Alternative Minimum Tax) | ||||
| Education and Civic Organizations – 2.0% (1.3% of Total Investments) | ||||
| 250 | Lincoln University, Missouri, Auxiliary System Revenue Bonds, Series 2007, 5.125%, 6/01/37 – | 6/17 at 100.00 | AAA | 253,538 |
| AGC Insured | ||||
| 365 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Webster University, | 4/11 at 100.00 | A3 | 370,960 |
| Series 2001, 5.500%, 4/01/18 – NPFG Insured | ||||
| 615 | Total Education and Civic Organizations | 624,498 | ||
| Health Care – 21.6% (13.9% of Total Investments) | ||||
| 710 | Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue | 6/17 at 100.00 | N/R | 652,135 |
| Bonds, Southeast Missouri Hospital Association, Series 2007, 5.000%, 6/01/27 | ||||
| 930 | Cass County, Missouri, Hospital Revenue Bonds, Series 2007, 5.625%, 5/01/38 | 11/16 at 100.00 | N/R | 811,360 |
| 480 | Clinton County Industrial Development Authority, Missouri, Revenue Bonds, Cameron Regional | 12/17 at 100.00 | N/R | 339,811 |
| Medical Center, Series 2007, 5.000%, 12/01/37 | ||||
| 750 | Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman | 2/15 at 102.00 | BBB+ | 728,498 |
| Health System, Series 2004, 5.500%, 2/15/29 | ||||
| 500 | Missouri Health & Educational Facilities Authority, St. Luke’s Episcopal- Presbyterian | 6/11 at 101.00 | AAA | 508,165 |
| Hospitals Revenue Bonds, Series 2001, 5.250%, 12/01/26 – AGM Insured | ||||
| Missouri Health and Educational Facilities Authority, Revenue Bonds, BJC Health System, | ||||
| Series 2003: | ||||
| 1,500 | 5.125%, 5/15/25 | 5/13 at 100.00 | AA | 1,534,470 |
| 1,155 | 5.250%, 5/15/32 | 5/13 at 100.00 | AA | 1,173,341 |
| 425 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health | 8/10 at 100.00 | BBB+ | 425,310 |
| System, Series 1996, 6.500%, 2/15/21 | ||||
| 500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health | 2/14 at 100.00 | BBB+ | 499,990 |
| System, Series 2003, 5.700%, 2/15/34 | ||||
| 6,950 | Total Health Care | 6,673,080 | ||
| Housing/Multifamily – 3.6% (2.3% of Total Investments) | ||||
| 395 | Jefferson County Industrial Development Authority, Missouri, Multifamily Housing Revenue | 12/11 at 100.00 | N/R | 377,462 |
| Bonds, Lakewood Apartments Project, Series 2001B, 5.750%, 11/01/34 (Mandatory put 11/01/16) | ||||
| (Alternative Minimum Tax) | ||||
| 230 | Missouri Housing Development Commission, Multifamily Housing Revenue Bonds, Series 2001II, | 12/11 at 100.00 | AA | 236,702 |
| 5.250%, 12/01/16 | ||||
| 500 | St. Charles County Industrial Development Authority, Missouri, FHA-Insured Multifamily Housing | 4/10 at 100.00 | AAA | 500,240 |
| Revenue Bonds, Ashwood Apartments, Series 1998A, 5.600%, 4/01/30 – AGM Insured (Alternative | ||||
| Minimum Tax) | ||||
| 1,125 | Total Housing/Multifamily | 1,114,404 | ||
| Housing/Single Family – 4.7% (3.0% of Total Investments) | ||||
| 60 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership | 3/10 at 100.00 | AAA | 62,108 |
| Loan Program, Series 2000B-1, 6.250%, 3/01/31 (Alternative Minimum Tax) | ||||
| 580 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership | 9/16 at 100.00 | AAA | 573,852 |
| Loan Program, Series 2007A-1, 4.700%, 9/01/27 (Alternative Minimum Tax) | ||||
| 855 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership | 3/17 at 100.00 | AAA | 819,141 |
| Loan Program, Series 2007C-1, 4.800%, 9/01/38 (Alternative Minimum Tax) | ||||
| 1,495 | Total Housing/Single Family | 1,455,101 | ||
| Long-Term Care – 8.2% (5.2% of Total Investments) | ||||
| 1,750 | Cole County Industrial Development Authority, Missouri, Revenue Bonds, Lutheran Senior | 2/14 at 100.00 | N/R | 1,637,493 |
| Services – Heisinger Project, Series 2004, 5.500%, 2/01/35 | ||||
| 475 | Lees Summit Industrial Development Authority, Missouri, Revenue Bonds, John Knox Village | 8/17 at 100.00 | N/R | 410,937 |
| Obligated Group, Series 2007A, 5.125%, 8/15/32 | ||||
| 500 | St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village | 9/17 at 100.00 | N/R | 468,035 |
| of West County, Series 2007A, 5.500%, 9/01/28 | ||||
| 2,725 | Total Long-Term Care | 2,516,465 | ||
| Materials – 2.2% (1.4% of Total Investments) | ||||
| 750 | Sugar Creek, Missouri, Industrial Development Revenue Bonds, Lafarge North America Inc., | 6/13 at 101.00 | BBB– | 681,113 |
| Series 2003A, 5.650%, 6/01/37 (Alternative Minimum Tax) | ||||
| Tax Obligation/General – 31.2% (20.0% of Total Investments) | ||||
| 1,500 | Camdenton Reorganized School District R3, Camden County, Missouri, General Obligation Bonds, | No Opt. Call | AAA | 1,644,375 |
| Series 2005, 5.250%, 3/01/24 – AGM Insured (5) | ||||
| 1,685 | Independence School District, Jackson County, Missouri, General Obligation Bonds, Series 2010, | 3/20 at 100.00 | AA+ | 1,846,945 |
| 5.000%, 3/01/27 | ||||
| 500 | Jackson County School District R-7, Lees Summit, Missouri, General Obligation Refunding and | 3/12 at 100.00 | AAA | 538,965 |
| Improvement Bonds, Series 2002, 5.250%, 3/01/18 – AGM Insured | ||||
| 500 | Missouri School Boards Association, Lease Participation Certificates, Clay County School | 3/17 at 100.00 | AAA | 537,895 |
| District 53 Liberty, Series 2007, 5.250%, 3/01/27 – AGM Insured | ||||
| 1,630 | North Kansas City School District, Missouri, General Obligation Bonds, Series 2003A, | 3/13 at 100.00 | AA+ | 1,763,676 |
| 5.000%, 3/01/23 | ||||
| 1,000 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.500%, | No Opt. Call | A | 1,056,490 |
| 7/01/20 – NPFG Insured | ||||
| 1,800 | Ritenour Consolidated School District, St. Louis County, Missouri, General Obligation Bonds, | No Opt. Call | A1 | 1,961,586 |
| Series 1995, 7.375%, 2/01/12 – FGIC Insured | ||||
| 270 | St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series | 3/14 at 100.00 | AAA | 298,885 |
| 2004, 5.250%, 3/01/20 – AGM Insured | ||||
| 8,885 | Total Tax Obligation/General | 9,648,817 | ||
| Tax Obligation/Limited – 21.8% (14.0% of Total Investments) | ||||
| 600 | Chesterfield, Missouri, Certificates of Participation, Series 2005, 5.000%, 12/01/24 – | 12/15 at 100.00 | Aa1 | 622,134 |
| FGIC Insured | ||||
| 80 | Cottleville, Missouri, Certificates of Participation, Series 2006, 5.250%, 8/01/31 | 8/14 at 100.00 | N/R | 68,353 |
| 390 | Fenton, Missouri, Tax Increment Revenue Bonds, Gravois Bluffs Redevelopment Project, Series | 4/14 at 100.00 | N/R | 389,310 |
| 2006, 4.500%, 4/01/21 | ||||
| 315 | Fulton, Missouri, Tax Increment Revenue Bonds, Fulton Commons Redevelopment Project, Series | 6/16 at 100.00 | N/R | 245,965 |
| 2006, 5.000%, 6/01/28 | ||||
| 475 | Kansas City Tax Increment Financing District, Missouri, Tax Increment Revenue Bonds, | 6/14 at 102.00 | N/R | 400,240 |
| Briarcliff West Project, Series 2006A, 5.400%, 6/01/24 | ||||
| 415 | Missouri Development Finance Board, Independence, Infrastructure Facilities Revenue Bonds, | 3/16 at 100.00 | A | 412,560 |
| Crackerneck Creek Project, Series 2006C, 5.000%, 3/01/28 | ||||
| 360 | Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, Branson Landing | 6/15 at 100.00 | A | 328,237 |
| Project, Series 2005A, 5.000%, 6/01/35 | ||||
| 450 | Monarch-Chesterfield Levee District, St. Louis County, Missouri, Levee District Improvement | 3/10 at 101.00 | A | 456,134 |
| Bonds, Series 1999, 5.750%, 3/01/19 – NPFG Insured | ||||
| 500 | Osage Beach, Missouri, Tax Increment Revenue Bonds, Prewitts Point Transportation Development | 5/12 at 102.00 | N/R | 387,650 |
| District, Series 2006, 5.000%, 5/01/23 | ||||
| 600 | Riverside, Missouri, L-385 Levee Redevelopment Plan Tax Increment Revenue Bonds, Series 2004, | 5/15 at 100.00 | A | 612,762 |
| 5.250%, 5/01/20 | ||||
| 2,000 | Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park | 6/10 at 100.00 | N/R | 2,007,100 |
| Projects, Series 2000A, 6.125%, 6/01/21 – AMBAC Insured | ||||
| St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North | ||||
| Village Project, Series 2005A: | ||||
| 340 | 5.375%, 11/01/24 | 11/14 at 100.00 | N/R | 298,857 |
| 400 | 5.500%, 11/01/27 | 11/14 at 100.00 | N/R | 346,560 |
| 200 | St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North | 11/14 at 100.00 | N/R | 173,280 |
| Village Project, Series 2005B, 5.500%, 11/01/27 | ||||
| 7,125 | Total Tax Obligation/Limited | 6,749,142 | ||
| Transportation – 13.3% (8.6% of Total Investments) | ||||
| 500 | Kansas City, Missouri, Passenger Facility Charge Revenue Bonds, Kansas City International | 4/11 at 101.00 | A | 501,085 |
| Airport, Series 2001, 5.000%, 4/01/23 – AMBAC Insured (Alternative Minimum Tax) | ||||
| 1,000 | St. Louis Land Clearance Redevelopment Authority, Missouri, Revenue Refunding and Improvement | 3/10 at 102.00 | N/R | 976,990 |
| Bonds, LCRA Parking Facilities, Series 1999C, 7.000%, 9/01/19 | ||||
| 2,500 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series | 7/17 at 100.00 | AAA | 2,638,925 |
| 2007A, 5.000%, 7/01/21 – AGM Insured | ||||
| 4,000 | Total Transportation | 4,117,000 | ||
| U.S. Guaranteed – 28.2% (18.1% of Total Investments) (4) | ||||
| 685 | Fenton, Missouri, Tax Increment Refunding and Improvement Revenue Bonds, Gravois Bluffs | 10/12 at 100.00 | N/R (4) | 771,289 |
| Redevelopment Project, Series 2002, 6.125%, 10/01/21 (Pre-refunded 10/01/12) | ||||
| 2,500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Healthcare System, | 6/11 at 101.00 | AA– (4) | 2,678,400 |
| Series 2001A, 5.250%, 6/01/28 (Pre-refunded 6/01/11) – AMBAC Insured | ||||
| 1,000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, St. Anthony’s Medical | 12/10 at 101.00 | N/R (4) | 1,054,220 |
| Center, Series 2000, 6.250%, 12/01/30 (Pre-refunded 12/01/10) | ||||
| 1,380 | Springfield Center City Development Corporation, Missouri, Lease Revenue Bonds, Jordan Valley | 11/11 at 100.00 | A1 (4) | 1,479,940 |
| Park Parking Garage, Series 2002D, 5.000%, 11/01/22 (Pre-refunded 11/01/11) – AMBAC Insured | ||||
| 80 | St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series | 3/14 at 100.00 | AAA | 92,837 |
| 2004, 5.250%, 3/01/20 (Pre-refunded 3/01/14) – AGM Insured | ||||
| 500 | St. Louis County, Missouri, GNMA Collateralized Mortgage Revenue Bonds, Series 1993D, 5.650%, | No Opt. Call | AAA | 578,735 |
| 7/01/20 (Alternative Minimum Tax) (ETM) | ||||
| 1,000 | St. Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Carnahan | 2/12 at 100.00 | N/R (4) | 1,101,400 |
| Courthouse, Series 2002A, 5.750%, 2/15/16 (Pre-refunded 2/15/12) – FGIC Insured | ||||
| 950 | Texas County, Missouri, Hospital Revenue Bonds, Texas County Memorial Hospital, Series 2000, | 6/10 at 100.00 | N/R (4) | 970,036 |
| 7.250%, 6/15/25 (Pre-refunded 6/15/10) | ||||
| 8,095 | Total U.S. Guaranteed | 8,726,857 | ||
| Water and Sewer – 9.9% (6.4% of Total Investments) | ||||
| 2,965 | Missouri Environmental Improvement and Energy Resources Authority, Water Facility Revenue | 12/16 at 100.00 | AA+ | 2,665,832 |
| Bonds, Missouri-American Water Company, Series 2006, 4.600%, 12/01/36 – AMBAC Insured | ||||
| (Alternative Minimum Tax) (UB) | ||||
| 350 | Missouri Environmental Improvement and Energy Resources Authority, Water Pollution | No Opt. Call | Aaa | 387,555 |
| Control Revenue Bonds, State Revolving Fund Program – Kansas City Project, Series 1997C, | ||||
| 6.750%, 1/01/12 | ||||
| 3,315 | Total Water and Sewer | 3,053,387 | ||
| $ 46,080 | Total Long-Term Investments (cost $46,488,648) – 150.0% | 46,391,694 | ||
| Short-Term Investments – 5.8% (3.7% of Total Investments) | ||||
| Tax Obligation/Limited – 5.8% (3.7% of Total Investments) | ||||
| $ 1,800 | Kansas City, Missouri, Special Obligation Bonds, H. Roe Bartle Convention Center Refunding, | 3/10 at 100.00 | VMIG-1 | $ 1,800,000 |
| Varialble Rate Demand Obligations, Series 2008F, 0.230%, 4/15/25 (6) | ||||
| Total Short-Term Investments (cost $1,800,000) | 1,800,000 | |||
| Total Investments (cost $48,288,648) – 155.8% | 48,191,694 | |||
| Floating Rate Obligations – (7.2)% | (2,225,000) | |||
| Other Assets Less Liabilities – 3.1% | 964,830 | |||
| Preferred Shares, at Liquidation Value – (51.7)% (7) | (16,000,000) | |||
| Net Assets Applicable to Common Shares – 100% | $ 30,931,524 |
Fair Value Measurements
In determining the value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
Level 1 – Quoted prices in active markets for identical securities.
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of February 28, 2010:
| Level 1 | Level 2 | Level 3 | Total | |
| Investments: | ||||
| Municipal Bonds | $ — | $46,391,694 | $ — | $46,391,694 |
| Short-Term Investments | — | 1,800,000 | — | 1,800,000 |
| Total | $ — | $48,191,694 | $ — | $48,191,694 |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At February 28, 2010, the cost of investments was $46,041,610.
Gross unrealized appreciation and gross unrealized depreciation of investments at February 28, 2010, were as follows:
| Gross unrealized: | |
| Appreciation | $ 1,383,081 |
| Depreciation | (1,457,419) |
| Net unrealized appreciation (depreciation) of investments | $ (74,338) |
| (1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to Common |
| shares unless otherwise noted. | |
| (2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. |
| There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities | |
| may be subject to periodic principal paydowns. | |
| (3) | Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, |
| Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be | |
| below investment grade. | |
| (4) | 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. Such investments are normally considered to | |
| be equivalent to AAA rated securities. | |
| (5) | Investment, or portion of investment, has been pledged as collateral for inverse floating rate transactions. |
| (6) | Investment has a maturity of more than one year, but has variable rate and demand features which qualify |
| it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This | |
| rate changes periodically based on market conditions or a specified market index. | |
| (7) | Preferred Shares, at Liquidation Value as a percentage of Total Investments is 33.2%. |
| N/R | Not rated. |
| (ETM) | Escrowed to maturity. |
| (UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
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a.
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The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
|
b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
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