FORM N-CSRS
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-6471
Van Kampen Trust For Investment Grade Municipals
 
(Exact name of registrant as specified in charter)
522 Fifth Avenue, New York, New York 10036
 
(Address of principal executive offices)     (Zip code)
Edward C. Wood III
522 Fifth Avenue, New York, New York 10036
 
(Name and address of agent for service)
Registrant’s telephone number, including area code: 212-762-4000
Date of fiscal year end: 10/31
Date of reporting period: 4/30/09
 
 


 

Item 1. Report to Shareholders.
 
The Trust’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1
under the Investment Company Act of 1940 is as follows:
 
Welcome, Shareholder
 
In this report, you’ll learn about how your investment in Van Kampen Trust for Investment Grade Municipals performed during the semiannual period. The portfolio management team will provide an overview of the market conditions and discuss some of the factors that affected investment performance during the reporting period. In addition, this report includes the trust’s financial statements and a list of trust investments as of April 30, 2009.
 
 
Market forecasts provided in this report may not necessarily come to pass. There is no assurance that the trust will achieve its investment objective. Trusts are subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of the trust shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in this trust.
 
Income may subject certain individuals to the federal Alternative Minimum Tax (AMT).
 
             
NOT FDIC INSURED
    OFFER NO BANK GUARANTEE     MAY LOSE VALUE
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
    NOT A DEPOSIT
             


 

Performance Summary as of 4/30/09
 
                         
Trust for Investment Grade
Municipals
Symbol: VGM
Average Annual
    Based
    Based on
Total Returns     on NAV     Market Price
                         
Since Inception (1/24/92)       5.75 %         5.58 %  
                         
10-year       3.33           3.51    
                         
5-year       –0.11           2.31    
                         
1-year       –11.92           –10.33    
                         
6-month       14.04           20.65    
 
 
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit vankampen.com or speak with your financial adviser. Investment returns, net asset value (NAV) and common share market price will fluctuate and trust shares, when sold, may be worth more or less than their original cost.
 
NAV per share is determined by dividing the value of the trust’s portfolio securities, cash and other assets, less all liabilities and preferred shares, by the total number of common shares outstanding. The common share market price is the price the market is willing to pay for shares of the trust at a given time. Common share market price is influenced by a range of factors, including supply and demand and market conditions. Total return assumes an investment at the beginning of the period, reinvestment of all distributions for the period in accordance with the trust’s dividend reinvestment plan, and sale of all shares at the end of the period. The Trust’s adviser has waived or reimbursed fees and expenses from time to time; absent such waivers/ reimbursements the trust’s returns would have been lower. Periods of less than a year are not annualized.
 
The Lehman Brothers Municipal Bond Index, which has been shown in the Trust’s previous shareholder reports, changed its name to Barclays Capital Municipal Bond Index as of November 3, 2008. The Barclays Capital Municipal Bond Index is generally representative of investment-grade, tax exempt bonds. The Index is unmanaged and its returns do not include any sales charges or fees. Such costs would lower performance. It is not possible to invest directly in an index.
 
 
1


 

Trust Report
For the six-month period ended April 30, 2009
 
Market Conditions
 
The six months under review can be divided into two distinct periods in terms of municipal market performance. The first of these, spanning the last two months of 2008, marked one of the worst periods in the history of the financial markets as the sell off that began in September continued through year end. Investors fled risky assets in favor of the relative safety of Treasury securities and money market funds, massive deleveraging and forced selling ensued, and tax-exempt bond funds experienced significant outflows. These factors pushed municipal bond prices to their cheapest levels in history relative to Treasury bonds.
 
Not surprisingly in this risk-averse environment, the lower-rated segment of the market underperformed, with high-yield municipal bonds (those rated below triple-B or non-rated issues) returning -12.91 percent for the last two months of 2008 (as measured by the Barclays Capital High Yield Municipal Bond Index) while triple-B rated issues returned -7.33 percent and triple-A rated issues returned 3.46 percent (as measured within the Barclays Capital Municipal Bond Index).
 
The first four months of 2009 were markedly better for municipal bond investors. Credit concerns eased, deleveraging slowed considerably, and investors re-entered the market, driving municipal bond prices higher. Yields declined by as much as 95 basis points on the front end of the municipal yield curve during the period, while yields on long-maturity issues fell roughly 50 basis points. The rally was accompanied by a narrowing of credit spreads, which helped the high-yield segment of the market to outperform. As a result, high-yield municipals returned 10.00 percent, triple-B rated issues returned 11.11 percent and triple-A rated issues returned 4.83 percent for the first four months of 2009.
 
Although the high-yield segment rebounded nicely in 2009 to date, the gains were not enough to offset the losses in the last two months of 2008. As a result, higher-quality issues outperformed for the overall six-month reporting period. With regard to sectors, performance was largely dependent on credit quality, with the lower-quality industrial development revenue/pollution control revenue (i.e. corporate-backed) and tobacco sectors turning in the worst performance while water and sewer and housing bonds posted the highest returns.
 
For the first four months of 2009, municipal bond issuance was down 13 percent versus the same period in 2008 yet was easily placed due to robust retail demand. With the continued deterioration of credit quality of municipal bond issuers, insured bond volume represented a mere 12 percent of total issuance, a dramatic decline from the 55 percent average over the past few years. This large increase in uninsured bonds has disrupted many historical measures of value in the municipal bond market. In a significant reversal from the last months of 2008,
 
 
2


 

municipal bond funds saw approximately $17 billion in net inflows as investors recognized the historical cheapness of the municipal sector.
 
Performance Analysis
 
The Trust’s return can be calculated based upon either the market price or the net asset value (NAV) of its shares. NAV per share is determined by dividing the value of the Trust’s portfolio securities, cash and other assets, less all liabilities and preferred shares, by the total number of common shares outstanding, while market price reflects the supply and demand for the shares. As a result, the two returns can differ, as they did during the reporting period. On both an NAV basis and a market price basis, the Trust outperformed the Barclays Capital Municipal Bond Index (the “Index”).
 
Total return for the six-month period ended April 30, 2009
 
                                       
    Based on
    Based on
    Barclays Capital
   
    NAV     Market Price     Municipal Bond Index    
                                       
      14.04 %         20.65 %         8.20 %      
 
 
 
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Investment return, net asset value and common share market price will fluctuate and Trust shares, when sold, may be worth more or less than their original cost. See Performance Summary for additional performance information and index definition.
 
The primary contributors to the Trust’s performance during the reporting period included strong security selection in the industrial development revenue/pollution control revenue (IDR/PCR) sector. The Trust’s holdings in the housing, airport transportation and public utilities sectors, held in the form of inverse floating-rate securities,* were additive to performance. Additionally, the portfolio’s greater relative exposure to the long end of the municipal yield curve was advantageous as longer maturity issues generally outperformed.
 
Other positions, however, detracted from relative performance. A significant underweight in tax-supported state and local general obligation bonds with coupons of 5.0 to 5.5 percent held back returns as these securities performed well. A modest underweight in the higher education sector, which performed well during the period, as well as unfavorable security selection in the sector hindered returns. Lastly, an overweight in the tobacco sector was disadvantageous. This was the only sector in the portfolio that experienced negative returns during the period.
 
The Trust’s Board of Trustees has approved a procedure whereby the Trust may, when appropriate, repurchase its shares in the open market or in privately negotiated transactions at a price not above market value or NAV, whichever is

*An inverse floating-rate security, or “inverse floater”, is a variable rate security whose coupon rate changes in the opposite direction from the change in the reference rate used to calculate the coupon rate.
 
 
3


 

lower at the time of purchase. This may help support the market value of the Trust’s shares.
 
There is no guarantee that any sectors mentioned will continue to perform as discussed herein or that securities in such sectors will be held by the Trust in the future.
 
 
4


 

         
Ratings Allocation as of 4/30/09 (Unaudited)
 
AAA/Aaa
    27.1 %
AA/Aa
    34.0  
A/A
    16.6  
BBB/Baa
    12.9  
BB/Ba
    1.0  
B/B
    0.1  
Non-Rated
    8.3  
 
         
Top Five Sectors as of 4/30/09 (Unaudited)
 
Hospital
    20.7 %
General Purpose
    7.7  
Public Transportation
    7.7  
Airports
    6.6  
Water & Sewer
    5.1  
 
         
Summary of Investments by State Classification as of 4/30/09 (Unaudited)
 
Florida
    18.0 %
California
    11.0  
Texas
    10.7  
Illinois
    7.1  
New York
    6.9  
Ohio
    4.9  
New Jersey
    4.0  
South Carolina
    3.0  
North Carolina
    2.7  
Michigan
    2.4  
Arizona
    2.3  
Massachusetts
    2.0  
Georgia
    1.9  
Washington
    1.8  
Colorado
    1.8  
Nevada
    1.6  
Wisconsin
    1.4  
Missouri
    1.4  
Tennessee
    1.3  
Indiana
    1.1  
District of Columbia
    1.0  
Connecticut
    1.0  
Kentucky
    0.9  
Alabama
    0.9  
Louisiana
    0.8  
Pennsylvania
    0.8  
Iowa
    0.8  
Minnesota
    0.8  
Maryland
    0.7  
Kansas
    0.7  
Oklahoma
    0.4  
Alaska
    0.4  
South Dakota
    0.3  
West Virginia
    0.3  
New Hampshire
    0.3  
(continued on next page)
 
 
 
5


 

         
Summary of Investments by State Classification as of 4/30/09 (Unaudited)
(continued from previous page)
 
U.S. Virgin Islands
    0.3 %
Idaho
    0.3  
Virginia
    0.3  
New Mexico
    0.3  
Rhode Island
    0.3  
Guam
    0.3  
Nebraska
    0.2  
Oregon
    0.2  
Utah
    0.1  
North Dakota
    0.1  
Wyoming
    0.1  
Puerto Rico
    0.1  
         
Total Investments
    100.0 %
 
 
Subject to change daily. Provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned or securities in the sectors shown above. Ratings allocation and summary of investments by state classification are as a percentage of total investments. Sectors are as a percentage of long-term investments. Securities are classified by sectors that represent broad groupings of related industries. Van Kampen is a wholly owned subsidiary of a global securities firm which is engaged in a wide range of financial services including, for example, securities trading and brokerage activities, investment banking, research and analysis, financing and financial advisory services. Rating allocations based upon ratings as issued by Standard and Poor’s and Moody’s, respectively.
 
 
6


 

Portfolio Management
 
Van Kampen Trust for Investment Grade Municipals is managed by members of the Adviser’s Municipal Fixed Income team. The Municipal Fixed Income team consists of portfolio managers and analysts. The current members of the team jointly and primarily responsible for the day-to-day management of the Trust’s portfolio are William D. Black, an Executive Director of the Adviser, Thomas Byron, a Vice President of the Adviser, and Robert W. Wimmel, an Executive Director of the Adviser.
 
Mr. Black has been associated with the Adviser in an investment management capacity since 1998 and began managing the Trust in December 2007. Mr. Byron has been associated with the Adviser in an investment management capacity since 1981 and began managing the Trust in January 1997. Mr. Wimmel has been associated with the Adviser in an investment management capacity since 1996 and began managing the Trust in November 2001. All team members are responsible for the execution of the overall strategy of the Trust’s portfolio. The composition of the team may change from time to time.
For More Information About Portfolio Holdings
 
Each Van Kampen trust provides a complete schedule of portfolio holdings in its semiannual and annual reports within 60 days of the end of the trust’s second and fourth fiscal quarters. The semiannual reports and the annual reports are filed electronically with the Securities and Exchange Commission (SEC) on Form N-CSRS and Form N-CSR, respectively. Van Kampen also delivers the semiannual and annual reports to fund shareholders, and makes these reports available on its public Web site, www.vankampen.com. In addition to the semiannual and annual reports that Van Kampen delivers to shareholders and makes available through the Van Kampen public Web site, each fund files a complete schedule of portfolio holdings with the SEC for the trust’s first and third fiscal quarters on Form N-Q. Van Kampen does not deliver the reports for the first and third fiscal quarters to shareholders, nor are the reports posted to the Van Kampen public Web site. You may, however, obtain the Form N-Q filings (as well as the Form N-CSR and N-CSRS filings) by accessing the SEC’s Web site, http://www.sec.gov. You may also review and copy them at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the SEC’s Public Reference Room may be obtained by calling the SEC at (800) SEC-0330. You can also request copies of these materials, upon payment of a duplicating fee, by electronic request at the SEC’s e-mail address (publicinfo@sec.gov) or by writing the Public Reference section of the SEC, Washington, DC 20549-0102.
 
You may obtain copies of a trust’s fiscal quarter filings by contacting Van Kampen Client Relations at (800) 341-2929.
 
 
7


 

Proxy Voting Policy and Procedures and Proxy Voting Record
 
You may obtain a copy of the Trust’s Proxy Voting Policy and Procedures without charge, upon request, by calling toll free (800) 341-2929 or by visiting our Web site at www.vankampen.com. It is also available on the Securities and Exchange Commission’s Web site at http://www.sec.gov.
 
You may obtain information regarding how the Trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 without charge by visiting our Web site at www.vankampen.com. This information is also available on the Securities and Exchange Commission’s Web site at http://www.sec.gov.
 
 
8


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Municipal Bonds  187.5%
Alabama  1.7%
$ 3,660     Alabama St Brd Ed Rev & Impt Southn Univ St Cmnty Rfdg (NATL Insd)     5.250 %   07/01/20   $ 3,801,459  
  3,225     Bessemer, AL Governmental Util Svc Corp Wtr Supply Rev Rfdg, Ser A (AGL Insd) (a)     5.000     06/01/39     3,169,788  
  750     Birmingham Baptist Med Ctr AL Baptist Hlth Sys, Ser A     5.875     11/15/24     650,355  
  2,000     Healthcare Auth for Baptist Hlth AL, Ser A (b)     6.125     11/15/36     2,008,060  
  2,525     Huntsville Redstone Vlg, AL Spl Care Fac Fin Auth Redstone Vlg Proj     5.500     01/01/43     1,485,003  
                             
                          11,114,665  
                             
        Alaska  0.7%
  1,575     Matanuska-Susitna Boro, AK Ctf Partn Pub Safety Bldg Lease (FSA Insd)     5.750     03/01/16     1,625,494  
  5,300     Northern Tob Sec Corp Rev Bkd, Ser A     5.000     06/01/46     2,775,398  
                             
                          4,400,892  
                             
        Arizona  4.4%
  2,560     Arizona St Trans Brd Hwy Rev, Ser B     5.000     07/01/25     2,749,670  
  3,835     Arizona St Trans Brd Hwy Rev, Ser B     5.000     07/01/26     4,087,304  
  6,075     Glendale, AZ Indl Dev Auth John C Lincoln Hlth Rfdg, Ser B     5.000     12/01/37     4,611,897  
  3,050     Glendale, AZ Indl Dev Auth Rfdg     5.000     12/01/35     2,306,440  
  3,000     Goodyear, AZ McDowell Rd Coml Corridor Impt Dist Impt
(AMBAC Insd)
    5.250     01/01/32     2,668,560  
  3,400     Pima Cnty, AZ Indl Dev Auth Wtr & Wastewtr Rev Global Wtr Resh LLC Proj (AMT)     6.550     12/01/37     2,367,930  
  3,145     Salt Riv Proj AZ Agric Impt & Pwr Dist Elec Sys Rev, Ser A     5.000     01/01/28     3,287,091  
  8,250     University of AZ Med Ctr Corp     5.000     07/01/35     6,273,465  
                             
                          28,352,357  
                             
 
 
9
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        California  20.7%
$ 1,300     Anaheim, CA Pub Fin Auth Lease Rev Pub Impt Proj, Ser C (FSA Insd)     6.000 %   09/01/16   $ 1,494,363  
  6,000     Bay Area Toll Auth CA Toll Brdg Rev San Francisco Bay Area, Ser F1     5.000     04/01/39     5,917,260  
  1,250     Beverly Hills, CA Uni Sch Dist Cap Apprec 2008 Election     *       08/01/28     448,950  
  1,000     California Cnty, CA Tob Agy Tob Sec Sonoma Cnty Corp Rfdg     5.250     06/01/45     530,160  
  3,000     California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a)     4.950     08/01/23     2,617,320  
  2,000     California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a)     5.050     02/01/29     1,631,840  
  7,300     California Hsg Fin Agy Rev Home Mtg, Ser I (AMT) (a)     4.800     08/01/36     5,541,722  
  4,800     California Hsg Fin Agy Rev Home Mortgage, Ser K (AMT) (a)     5.300     08/01/23     4,369,200  
  5,500     California Hsg Fin Agy Rev Home Mortgage, Ser K (AMT) (a)     5.450     08/01/28     4,755,410  
  1,500     California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt Inc Proj, Ser B (AMT)     5.000     07/01/27     1,265,520  
  695     California St (AMBAC Insd)     5.125     10/01/27     695,090  
  990     California St Dept Wtr Res Cent VY Proj Rev Bal Wtr Sys, Ser X (NATL Insd)
(Prerefunded @ 12/01/12)
    5.000     12/01/29     1,004,909  
  10     California St Dept Wtr Res Cent VY Proj Rev Wtr Sys, Ser X (FGIC Insd)
(Prerefunded @ 12/01/12)
    5.000     12/01/29     11,305  
  1,500     California St Dept Wtr Res Wtr Cent Vy Proj, Ser AE (a)     5.000     12/01/25     1,584,015  
  1,500     California St Dept Wtr Res Wtr Cent Vy Proj, Ser AE (a)     5.000     12/01/26     1,561,050  
  875     California St Dept Wtr Res Wtr Cent Vy Proj, Ser AE (a)     5.000     12/01/27     916,615  
  2,675     California St Dept Wtr Res Wtr Cent Vy Proj, Ser AE (a)     5.000     12/01/28     2,855,983  
  5,000     California St Univ Rev & Co Systemwide, Ser A (AMBAC Insd)     5.000     11/01/33     4,909,900  
  2,700     California St Var Purp     5.750     04/01/31     2,755,080  
  9,150     California St Veterans, Ser CD (AMT) (a)     4.600     12/01/32     7,164,176  
 
 
10
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        California (Continued)
$ 1,500     California Statewide Cmnty Dev Auth Rev Front Porch Cmnty & Svc, Ser A (c)     5.125 %   04/01/37   $ 981,300  
  2,700     California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A     5.000     03/01/30     2,295,621  
  3,750     California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A     5.000     03/01/35     3,070,163  
  3,360     California Statewide Cmnty Dev Auth Rev Sutter Hlth, Ser A     5.000     11/15/43     2,921,890  
  750     Chawanakee, CA Uni Sch Dist Ctf Partn, Ser A (b)     6.250/9.000     05/01/39     749,460  
  595     Daly City, CA Hsg Dev Fin Agy Mobile Home Pk Rev Third Tier Franciscan Rfdg, Ser C     6.500     12/15/47     424,098  
  1,750     Florin, CA Res Consv Dist Cap Impt Elk Grove Wtr Svc, Ser A (NATL Insd)     5.000     09/01/33     1,489,740  
  3,000     Florin, CA Res Consv Dist Cap Impt Elk Grove Wtr Svc, Ser B (NATL Insd)     5.000     03/01/33     2,557,890  
  2,000     Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg (NATL Insd)     *       01/15/17     1,055,560  
  10,750     Foothill/Eastern Corridor Agy CA Toll Rd Rev Sr Lien, Ser A (d)     *       01/01/23     6,082,350  
  3,000     Fremont, CA Uni Sch Dist, Ser A (NATL Insd)     5.000     08/01/25     2,883,540  
  11,440     Golden St Tob Sec Corp CA Tob Settlement Rev Asset Bkd Sr, Ser A-1     5.750     06/01/47     6,587,152  
  4,000     Golden St Tob Sec Corp CA Tob Settlement Rev Enhanced, Ser A     5.000     06/01/45     3,141,160  
  1,000     Hesperia, CA Pub Fin Auth Rev Redev & Hsg Proj, Ser A (Syncora Gtd)     5.000     09/01/37     713,330  
  4,000     Los Angeles, CA Dept Wtr & Pwr, Ser A (NATL Insd)     5.125     07/01/40     3,923,400  
  1,800     Los Angeles, CA Uni Sch Dist, Ser D     5.000     07/01/22     1,894,464  
  2,000     Los Angeles, CA Wtr & Pwr Rev Pwr Sys, Ser B (FSA Insd)     5.000     07/01/28     2,018,580  
  2,500     Metropolitan Wtr Dist Southn CA Wtrwks Rev Auth, Ser A     5.000     01/01/34     2,553,675  
 
 
11
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        California (Continued)
$ 1,500     Metropolitan Wtr Dist Southn CA Wtrwks Rev Auth, Ser B1 (NATL Insd)     5.000 %   10/01/33   $ 1,509,390  
  660     Morongo Band of Mission Indians CA Enterprise Rev Indians Enterprise Casino, Ser B (c)     5.500     03/01/18     548,889  
  3,500     Palm Springs, CA Fin Auth Lease Rev Convention Ctr Proj, Ser A (NATL Insd)     5.500     11/01/35     3,363,325  
  1,000     Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser B (FSA Insd) (b) (e)     2.700     11/01/36     1,000,000  
  2,275     Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser C (FSA Insd) (b) (e)     4.000     11/01/36     2,275,000  
  3,400     Quechan Indian Tribe Ft Yuma Indian Reservation CA & Govt Proj     7.000     12/01/27     2,363,408  
  2,400     Rancho Mirage, CA Jt Pwr Fin Auth Rev Eisenhower Med Ctr, Ser A     5.000     07/01/47     1,937,928  
  1,850     San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rfdg 2nd, Ser A-4 (AMT) (b)     6.500     05/01/19     1,920,744  
  1,000     Santa Clara Cnty, CA Brd Ed Ctf Partn Rfdg (NATL Insd)     5.000     04/01/25     961,730  
  3,000     Temecula, CA Redev Agy Tax Temecula Redev Proj No 1 (NATL Insd)     5.250     08/01/36     2,616,450  
  4,700     Tobacco Sec Auth Northn CA Tob Settlement Rev, Ser A-1     5.375     06/01/38     2,838,424  
  3,550     Tobacco Sec Auth Northn CA Tob Settlement Rev, Ser A-1     5.500     06/01/45     1,966,949  
  3,800     Tobacco Sec Auth Southn CA Tob Settlement, Ser A-1     5.000     06/01/37     2,165,202  
  9,650     Tobacco Sec Auth Southn CA Tob Settlement, Ser A-1     5.125     06/01/46     4,988,085  
  1,600     Turlock, CA Hlth Fac Rev Emanuel Med Ctr Inc     5.375     10/15/34     1,038,112  
  4,895     Vernon, CA Nat Gas Fin Auth Rev Vernon Gas Proj, Ser C (NATL Insd) (b) (e)     6.750     08/01/21     5,000,000  
                             
                          133,866,877  
                             
 
 
12
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Colorado  3.3%
$ 2,000     Aurora, CO Ctf Partn (AMBAC Insd)
(Prerefunded @ 12/01/10)
    5.500 %   12/01/30   $ 2,149,420  
  3,405     Colorado Ed & Cultural Fac Auth Rev Impt Charter Sch Rfdg (Syncora Gtd)     5.250     12/01/23     3,103,589  
  800     Colorado Hlth Fac Auth Hlth & Residential Care Fac Volunteers of Amer Care, Ser A     5.250     07/01/27     519,576  
  600     Colorado Hlth Fac Auth Hlth & Residential Care Fac Volunteers of Amer Care, Ser A     5.300     07/01/37     338,226  
  7,300     Colorado Hlth Fac Auth Rev Catholic Hlth, Ser 2999 (FSA Insd) (a)     5.000     09/01/36     7,046,617  
  1,125     Colorado Hlth Fac Auth Rev Hosp Portercare Adventist Hlth (Prerefunded @ 11/15/11)     6.500     11/15/31     1,274,220  
  1,400     Colorado Hlth Fac Auth Rev Poudre Vly CO Hlth Fac Auth Hosp, Ser A (FSA Insd)     5.200     03/01/31     1,341,732  
  1,805     Lakewood, CO Ctf Part (AMBAC Insd) (Prerefunded @ 12/01/10)     5.300     12/01/16     1,935,068  
  985     Montezuma Cnty, CO Hosp Dist Hlth Fac Enterprise Hosp Rfdg (f)     5.900     10/01/37     642,053  
  1,200     North Range, CO Met Dist No 2 Ltd Tax     5.500     12/15/37     619,284  
  2,050     Salida, CO Hosp Dist Rev     5.250     10/01/36     1,207,922  
  1,500     University of CO Hosp Auth Rev, Ser A     5.250     11/15/39     1,155,510  
                             
                          21,333,217  
                             
        Connecticut  1.8%
  7,500     Connecticut St Hsg Fin Auth Hsg Mtg Fin Pg Sub, Ser B-2 (AMT)     5.100     05/15/38     6,874,575  
  3,580     Connecticut St Spl Oblig Pkg Rev Bradley Intl Arpt, Ser A (ACA Insd) (AMT)     6.600     07/01/24     2,734,368  
  1,000     Hartford, CT Pkg Sys Rev, Ser A
(Prerefunded @ 7/01/10)
    6.500     07/01/25     1,067,730  
  1,925     Mashantucket Western Pequot Tribe CT 2006 Sub Spl Rev Bd, Ser A (c)     5.500     09/01/36     922,383  
                             
                          11,599,056  
                             
 
 
13
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        District of Columbia  1.9%
$ 1,150     District Columbia Wtr & Swr Auth Pub Util Rev Rfdg Sub Lien, Ser A (AGL Insd) (a)     5.000 %   10/01/29   $ 1,164,617  
  2,350     District Columbia Wtr & Swr Auth Pub Util Rev Rfdg Sub Lien, Ser A (AGL Insd) (a)     5.000     10/01/34     2,356,909  
  6,000     District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien, Ser A (FSA Insd)     5.500     10/01/41     6,203,820  
  2,000     District of Columbia Rev Friendship Pub Charter Sch Inc (ACA Insd)     5.750     06/01/18     1,615,520  
  5     District of Columbia, Ser E (FSA Insd)     6.000     06/01/13     5,020  
  1,000     Metropolitan Washington DC Arpt Auth Sys, Ser A (NATL Insd) (AMT)     5.250     10/01/32     933,610  
                             
                          12,279,496  
                             
        Florida  33.8%
  1,000     Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg     5.250     11/15/17     829,930  
  1,000     Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg     5.875     11/15/36     667,460  
  500     Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg     5.875     11/15/42     325,620  
  340     Beacon Lakes, FL Cmnty Dev FL Spl Assmt, Ser A     6.000     05/01/38     212,990  
  250     Beacon Lakes, FL Cmnty Dev FL Spl Assmt Sub, Ser B     6.200     05/01/38     153,547  
  4,960     Brevard Cnty, FL Hlth Fac Auth Hlthcare Fac Rev Hlth First Inc Proj     5.000     04/01/34     3,880,059  
  1,780     Brevard Cnty, FL Hlth Fac Auth Residential Care Fac Rev Buena Vida Estates Inc     6.750     01/01/37     1,277,079  
  1,000     Broward Cnty, FL Hsg Fin Auth Multi-Family Hsg Rev Pembroke Pk Apts Proj (AMT)     5.650     10/01/28     976,910  
  1,500     Capital Tr Agy FL Rev Ft Lauderdale Proj (AMT)     5.750     01/01/32     1,005,285  
  995     Cross Creek Cmnty Dev Dist FL Spl Assmt Rev Cross Creek Comm Dev, Ser B (f)     5.500     05/01/17     465,441  
  565     Escambia Cnty, FL Hlth Fac Auth Rev (AMBAC Insd)     5.950     07/01/20     582,436  
 
 
14
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Florida (Continued)
$ 1,250     Florida Agric & Mechanical Univ Rev Student Apt Fac (NATL Insd)     6.500 %   07/01/23   $ 1,250,812  
  245     Florida Hsg Fin Agy Homeownership Mtg, Ser B (AMT)     8.595     11/01/18     275,223  
  2,750     Florida Hsg Fin Agy Hsg Willow Lake Apts, Ser J-1 (AMBAC Insd) (AMT)     5.350     07/01/27     2,689,472  
  390     Florida Hsg Fin Corp Rev Homeowner Mtg, Ser 4 (FSA Insd) (AMT)     6.250     07/01/22     401,567  
  1,000     Florida Hsg Fin Corp Rev Hsg Wentworth II Apts, Ser A (AMBAC Insd) (AMT)     5.375     11/01/29     970,400  
  8,475     Florida Ports Fin Comm Rev St Trans Tr Fd Intermodal Pgm (NATL Insd) (AMT)     5.500     10/01/29     7,960,568  
  2,000     Florida Ports Fin Comm Rev St Trans Tr Fd (NATL Insd) (AMT)     5.375     06/01/27     1,873,540  
  15,000     Florida St Brd Ed Pub Ed Cap Outlay, Ser D (a)     4.750     06/01/35     14,184,900  
  12,775     Florida St Brd of Ed Cap Outlay Pub Ed Rfdg, Ser D     5.750     06/01/22     13,273,736  
  4,500     Florida St Brd of Ed Cap Outlay Pub Ed, Ser C (FGIC Insd)
(Prerefunded @ 6/01/10)
    5.750     06/01/29     4,798,665  
  2,000     Florida St Brd of Ed Lottery Rev, Ser A (NATL Insd)     5.250     07/01/17     2,054,920  
  1,000     Florida St Brd of Ed Rev FL St Univ Hsg Fac, Ser A (NATL Insd)     5.000     05/01/29     985,090  
  7,295     Florida St Dept Trans Tpk Rev, Ser A (a)     5.000     07/01/29     7,306,015  
  1,500     Florida St Div Bd Fin Dept Gen Svc Rev Dept Envrnmtl Preservtn 2000, Ser A (AMBAC Insd)     5.000     07/01/11     1,504,350  
  2,000     Florida St Div Bd Fin Dept Gen Svc Rev Dept Envrnmtl Preservtn 2000, Ser A (NATL Insd)     5.250     07/01/12     2,031,700  
  1,910     Florida St Tpk Auth Tpk Rev Dept Trans Rfdg, Ser A (a)     5.000     07/01/26     1,913,285  
  1,935     Florida St Tpk Auth Tpk Rev Dept Trans Rfdg, Ser A (a)     5.000     07/01/27     1,927,163  
  2,100     Florida St Tpk Auth Tpk Rev Dept Trans Rfdg, Ser A (a)     5.000     07/01/28     2,069,361  
 
 
15
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Florida (Continued)
$ 2,500     Florida St Tpk Auth Tpk Rev Dept Trans Rfdg, Ser A (a)     5.000 %   07/01/32   $ 2,433,000  
  1,475     Florida St Tpk Auth Tpk Rev Dept Trans, Ser B     5.000     07/01/30     1,448,435  
  1,635     Fort Myers, FL Util Rev Rfdg, Ser A (NATL Insd)     5.500     10/01/24     1,655,666  
  365     Gainesville, FL Util Sys Rev (d)     8.125     10/01/14     425,619  
  1,000     Gramercy Farms Cmnty Dev Dist FL Spl Assmt, Ser B (f)     5.100     05/01/14     486,790  
  500     Gulf Breeze, FL Rev Loc Govt (FGIC Insd) (b)     5.650     12/01/20     505,400  
  730     Gulf Breeze, FL Rev Loc Govt (FGIC Insd) (b)     5.750     12/01/20     733,030  
  1,000     Gulf Breeze, FL Rev Loc Govt (FGIC Insd) (b)     5.800     12/01/20     1,026,380  
  2,610     Halifax Hosp Med Ctr FL Hosp Rev Impt Rfdg, Ser A     5.250     06/01/26     2,188,459  
  1,270     Highlands, FL Cmnty Dev Dist Spl Assmt     5.550     05/01/36     688,365  
  750     Hillsborough Cnty, FL Assmt Rev Capacity Assmt Spl (FSA Insd)     5.000     03/01/15     775,290  
  750     Hillsborough Cnty, FL Assmt Rev Capacity Assmt Spl (FSA Insd)     5.000     09/01/15     774,675  
  1,450     Hillsborough Cnty, FL Aviation Auth Rev, Ser A (AGL Insd) (AMT) (a)     5.375     10/01/33     1,361,028  
  3,260     Hillsborough Cnty, FL Aviation Auth Rev, Ser A (AGL Insd) (AMT) (a)     5.500     10/01/38     3,074,539  
  14,150     Hillsborough Cnty, FL Indl Dev Auth Hosp Rev Tampa Gen Hosp Proj     5.250     10/01/41     10,874,983  
  1,100     Hillsborough Cnty, FL Indl Dev Auth Pollutn Ctl Rev Hillsborough Cnty IDA Rfdg (AMBAC Insd) (b)     5.000     12/01/34     1,107,689  
  1,225     Hillsborough Cnty, FL Indl Dev Auth Pollutn Ctl Rev Tampa Elec, Ser B (b)     5.150     09/01/25     1,224,584  
  400     Hillsborough Cnty, FL Indl Dev Tampa Gen Hosp Proj, Ser B     5.250     10/01/28     332,556  
  2,745     Hillsborough Cnty, FL Port Dist Rev Tampa Port Auth Proj, Ser A (NATL Insd) (AMT)     5.375     06/01/27     2,571,434  
 
 
16
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Florida (Continued)
$ 9,900     Hillsborough Cnty, FL Solid Waste & Res Recovery Rev, Ser A (BHAC Insd) (AMT)     4.500 %   09/01/34   $ 7,791,201  
  1,380     Hollywood, FL Cmnty Redev Agy Beach Cra     5.625     03/01/24     1,148,408  
  7,000     Lakeland, FL Elec & Wtr Rev (d)     *       10/01/13     6,385,470  
  2,230     Lakeland, FL Elec & Wtr Rev (d)     5.750     10/01/19     2,412,080  
  5,105     Lakeland, FL Hosp Sys Rev Lakeland Regl Hlth Sys Rfdg     5.000     11/15/25     4,308,212  
  1,000     Lee Cnty, FL Arpt Rev, Ser A (FSA Insd) (AMT)     5.750     10/01/22     1,008,240  
  1,080     Lee Cnty, FL Hsg Fin Auth Single Family Mtg Rev Multi-Cnty Pgm, Ser A
(GNMA Collateralized) (AMT)
    5.000     03/01/39     985,025  
  2,400     Lee Cnty, FL Indl Dev Auth Hlthcare Fac Rev Shell PT/Alliance Oblig Group     5.125     11/15/36     1,450,752  
  1,000     Lee Cnty, FL Indl Dev Auth Indl Dev Rev Lee Charter Fndtn, Ser A     5.375     06/15/37     570,330  
  1,010     Main Str Cmnty Dev Dist FL Cap Impt Rev, Ser A
(Acquired 02/19/08, Cost $1,010,000) (g)
    6.800     05/01/38     642,522  
  650     Main Str Cmnty Dev Dist FL Cap Impt Rev, Ser B
(Acquired 02/19/08, Cost $650,000) (g)
    6.900     05/01/17     519,545  
  3,500     Marion Cnty, FL Hosp Dist Rev Hlth Sys Munroe Reg Impt & Rfdg     5.000     10/01/34     2,578,450  
  1,500     Miami Beach, FL Stormwtr Rev (NATL Insd)     5.250     09/01/25     1,510,365  
  1,460     Miami Beach, FL Stormwtr Rev (NATL Insd)     5.750     09/01/14     1,539,818  
  1,045     Miami Beach, FL Stormwtr Rev (NATL Insd)     5.750     09/01/15     1,102,130  
  3,200     Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (AGC Insd) (AMT)     5.000     10/01/38     2,795,936  
  2,000     Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (AGC Insd) (AMT)     5.375     10/01/27     1,944,120  
 
 
17
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Florida (Continued)
$ 4,720     Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (AGC Insd) (AMT)     5.375 %   10/01/32   $ 4,458,795  
  870     Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt, Ser B (NATL Insd)     5.450     10/01/15     886,208  
  3,000     Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt, Ser B (NATL Insd)     5.750     10/01/29     3,026,640  
  2,000     Miami-Dade Cnty, FL Aviation Rev, Ser A (FSA Insd) (AMT)     5.000     10/01/33     1,780,400  
  2,000     Miami-Dade Cnty, FL Aviation, Ser A (FSA Insd) (AMT)     5.125     10/01/35     1,801,120  
  905     Midtown Miami, FL Cmnty Dev FL Spl Assmt Rev, Ser A     6.000     05/01/24     649,591  
  3,860     North Broward, FL Hosp Dist Rev Impt (Prerefunded @ 1/15/11)     6.000     01/15/31     4,191,883  
  390     North Broward, FL Hosp Dist Rev Impt (Prerefunded @ 1/15/11)     6.000     01/15/31     423,532  
  1,000     Orange Cnty, FL Cap Rev Impt & Rfdg (AMBAC Insd)     *       10/01/12     902,280  
  1,000     Orange Cnty, FL Cap Rev Impt & Rfdg (AMBAC Insd)     *       10/01/13     867,400  
  980     Orange Cnty, FL Hlth Fac Auth Hosp Hlthcare, Ser E     6.000     10/01/26     946,102  
  20     Orange Cnty, FL Hlth Fac Auth Hosp Hlthcare, Ser E (Prerefunded @ 10/01/09)     6.000     10/01/26     20,655  
  2,475     Orange Cnty, FL Hlth Fac Auth Rev First Mtg Orlando Lutheran Tower     5.500     07/01/32     1,532,495  
  1,000     Orange Cnty, FL Hsg Fin Auth Multi-Family Rev Mtg Hands Inc Proj, Ser A
(Acquired 06/19/95, Cost $1,000,000) (g)
    7.000     10/01/25     1,035,940  
  1,500     Orlando & Orange Cnty Expwy Auth FL Expwy Rev Jr Lien (NATL Insd)     5.000     07/01/28     1,488,930  
  890     Overoaks, FL Cmnty Dev Dist Cap Impt Rev, Ser A     6.125     05/01/35     494,822  
  1,650     Palm Beach Cnty, FL Hlth Fac Auth Rev Wtrford Proj     5.875     11/15/37     1,237,896  
  1,000     Palm Beach Cnty, FL Sch Brd Ctf Partn, Ser A (FGIC Insd)
(Prerefunded @ 8/01/10)
    5.875     08/01/21     1,075,190  
 
 
18
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Florida (Continued)
$ 4,000     Palm Beach Cnty, FL Solid Waste Auth Rev Impt (BHAC Insd)     5.500 %   10/01/23   $ 4,308,920  
  765     Pembroke Pines, FL Cons Util Sys Rev (FGIC Insd) (d)     6.250     09/01/11     816,400  
  1,500     Pensacola, FL Arpt Rev Rfdg, Ser A (NATL Insd) (AMT)     6.000     10/01/12     1,531,095  
  1,565     Pensacola, FL Arpt Rev Rfdg, Ser A (NATL Insd) (AMT)     6.125     10/01/18     1,577,645  
  500     Polk Cnty, FL Sch Brd Ctf Partn Master Lease, Ser A (FSA Insd)     5.500     01/01/25     510,895  
  2,000     Port Saint Lucie, FL Spl Assmt Rev Southwest Annexation Dist, Ser 1-B (NATL Insd)     5.000     07/01/33     1,628,300  
  4,675     Putnam Cnty, FL Dev Auth Pollutn Ctl Rev Rfdg Seminole Proj, Ser A (AMBAC Insd) (b)     5.350     03/15/42     4,729,277  
  880     Reunion East Cmnty Dev Dist FL Spl Assmt     5.800     05/01/36     450,982  
  1,000     Saint Johns Cnty, FL Indl Dev Auth Hlthcare Glenmoor Proj, Ser A     5.250     01/01/26     655,400  
  1,500     Saint John’s Cnty, FL Indl Dev Auth Hlthcare Glenmoor Proj, Ser A     5.375     01/01/40     853,755  
  2,000     Saint Lucie Cnty, FL Sch Brd Ctf, Ser A (FSA Insd)     5.000     07/01/21     2,040,960  
  750     Saint Lucie Cnty, FL Sch Brd Ctf, Ser A (FSA Insd)     5.000     07/01/23     759,150  
  600     Seminole Tribe FL Spl Oblig Rev, Ser A (c)     5.250     10/01/27     415,584  
  1,405     Seven Oaks, FL Cmnty Dev Dist II Spl Assmt Rev, Ser A     5.875     05/01/35     719,796  
  1,000     South Lake Cnty Hosp Dist FL South Lake Hosp Inc     6.375     10/01/28     847,130  
  2,800     South Vlg Cmnty Dev Dist FL Cap Impt Rev, Ser A     5.700     05/01/35     1,611,792  
  500     Split Pine Cmnty Dev Dist FL Spl Assmt, Ser A     5.250     05/01/39     274,500  
  1,250     Sterling Hill Cmnty Dev Dist FL Cap Impt Rev, Ser A     6.200     05/01/35     994,550  
  1,000     Tallahassee, FL Hlth Fac Rev Tallahassee Mem Hlthcare Proj     6.375     12/01/30     849,490  
  1,000     Tallahassee, FL Lease Rev FL St Univ Proj, Ser A (NATL Insd)     5.500     08/01/17     1,054,650  
 
 
19
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Florida (Continued)
$ 1,115     Tallahassee, FL Lease Rev FL St Univ Proj, Ser A (NATL Insd)     5.500 %   08/01/19   $ 1,162,410  
  300     Tolomato Cmnty, FL Dev Dist Spl Assmt     6.550     05/01/27     215,235  
  3,170     Tolomato Cmnty, FL Dev Dist Spl Assmt     6.650     05/01/40     2,147,770  
  3,500     Village Ctr Cmnty Dev Dist FL Recreational Rev, Ser A (NATL Insd)     5.125     11/01/36     2,822,680  
  1,000     Village Ctr Cmnty Dev Dist FL Recreational Rev, Ser A (NATL Insd)     5.200     11/01/25     834,050  
  1,000     Village Ctr Cmnty Dev Dist FL Util Rev (FGIC Insd) (d)     6.000     11/01/18     1,218,890  
  2,000     Village Ctr Cmnty Dev Dist FL Util Rev (NATL Insd)     5.250     10/01/23     1,817,480  
  1,000     Volusia Cnty, FL Ed Fac Auth Rev Ed Fac Embry Riddle Aero, Ser A     5.750     10/15/29     869,980  
  3,000     West Orange Hlthcare Dist FL, Ser A     5.800     02/01/31     2,597,490  
  820     West Palm Beach, FL Cmnty Redev Agy Northwood—Pleasant Cmnty Redev, Ser A     5.000     03/01/35     635,697  
  740     World Comm Cmnty Dev Dist FL Spl Assmt     5.500     05/01/38     293,447  
                             
                          218,293,329  
                             
        Georgia  3.6%
  5,250     Atlanta, GA Arpt Passenger Fac Charge Rev Gen Sub Lien, Ser C (FSA Insd) (a)     5.000     01/01/33     5,225,640  
  1,421     Fulton Cnty, GA Lease Rev
(Acquired 12/23/94, Cost $1,420,926) (g)
    7.250     06/15/10     1,438,588  
  1,500     George L Smith II GA World Congress Cent Auth Rev Domed Stadium Proj Rfdg (NATL Insd) (AMT)     5.500     07/01/20     1,423,665  
  2,635     Georgia Muni Elec Auth Pwr Rev, Ser A (NATL Insd)     6.500     01/01/20     3,113,041  
  5,575     Georgia Muni Elec Auth Pwr Rev, Ser Y (NATL Insd)     6.500     01/01/17     6,411,083  
  240     Georgia Muni Elec Auth Pwr Rev, Ser Y (NATL Insd)     6.500     01/01/17     285,185  
 
 
20
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Georgia (Continued)
$ 85     Georgia Muni Elec Auth Pwr Rev, Ser Y (NATL Insd) (Prerefunded @ 1/01/14)     6.500 %   01/01/17   $ 102,749  
  2,400     Putnam Cnty, GA Dev Auth Pollutn Ctl Rev GA Pwr Co, Ser 1     5.100     06/01/23     2,422,848  
  2,500     Royston, GA Hosp Auth Hosp Rev Ctf Hlthcare Sys Inc     6.500     07/01/27     1,899,200  
  800     Royston, GA Hosp Auth Hosp Rev Ctf Hlthcare Sys Inc     6.700     07/01/16     721,392  
                             
                          23,043,391  
                             
        Idaho  0.5%
  1,000     Idaho Hlth Fac Auth Rev Saint Lukes Hlth Sys Proj, Ser A     6.500     11/01/23     1,072,480  
  1,500     Idaho Hlth Fac Auth Rev Saint Lukes Hlth Sys Proj, Ser A     6.750     11/01/37     1,559,670  
  1,305     Idaho Hlth Fac Auth Rev Vly Vista Care Corp Rfdg (f)     6.125     11/15/27     922,948  
                             
                          3,555,098  
                             
        Illinois  13.4%
  1,910     Bartlett, IL Tax Increment Rev Rfdg Sr Lien Quarry Redev Proj     5.600     01/01/23     1,451,065  
  11,675     Chicago, IL Brd Ed Rfdg, Ser C (FSA Insd) (a)     5.000     12/01/27     11,852,227  
  2,000     Chicago, IL Brd of Ed (FGIC Insd)
(Prerefunded @ 12/01/10)
    5.500     12/01/31     2,149,420  
  1,130     Chicago, IL Proj & Rfdg (NATL Insd)
(Prerefunded @ 1/01/11)
    5.000     01/01/31     1,121,062  
  685     Chicago, IL Rfdg, Ser B (AMBAC Insd)     5.125     01/01/15     762,234  
  4,400     Chicago, IL O’Hare Intl Arpt Rev Gen Arpt Third Lien (AGC Insd) (a)     5.250     01/01/24     4,488,924  
  11,500     Chicago, IL O’Hare Intl Arpt Rev Gen Arpt Third Lien (AGC Insd) (a)     5.250     01/01/25     11,693,200  
  1,000     Chicago, IL O’Hare Intl Arpt Rev Second Lien Passenger Fac, Ser B (AMBAC Insd)     5.500     01/01/16     1,041,380  
  2,000     Chicago, IL O’Hare Intl Arpt Rev Second Lien Passenger Fac, Ser B (AMBAC Insd)     5.500     01/01/17     2,076,140  
  5,700     Chicago, IL O’Hare Intl Arpt Rev, Ser A (FSA Insd) (a)     5.000     01/01/33     5,530,482  
 
 
21
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Illinois (Continued)
$ 2,370     Chicago, IL Proj Rfdg, Ser A (NATL Insd) (Prerefunded @ 1/01/11)     5.000 %   01/01/31   $ 2,550,878  
  375     Chicago, IL Proj Rfdg, Ser C (FGIC Insd)     5.750     01/01/14     397,129  
  375     Chicago, IL Proj Rfdg, Ser C (NATL Insd)     5.750     01/01/15     397,129  
  315     Chicago, IL Rfdg, Ser B (AMBAC Insd) (d)     5.125     01/01/15     350,601  
  3,500     Chicago, IL, Ser A (AGL Insd)     5.250     01/01/25     3,658,375  
  3,500     Du Page Cnty, IL Fst Presv Dist     *       11/01/10     3,423,280  
  2,310     Illinois Dev Fin Auth Rev Adventist Hlth, Ser A (NATL Insd)     5.500     11/15/13     2,399,651  
  2,500     Illinois Dev Fin Auth Rev Adventist Hlth, Ser A (NATL Insd)     5.500     11/15/15     2,577,250  
  1,860     Illinois Fin Auth Hosp Rev Rfdg Kish Hlth Sys Oblig Group     5.500     10/01/22     1,851,184  
  400     Illinois Fin Auth Rev Christian Homes Inc Rfdg, Ser A     5.750     05/15/31     263,696  
  1,000     Illinois Fin Auth Rev IL Fin Auth Roosevelt Univ     5.500     04/01/37     839,400  
  2,000     Illinois Fin Auth Rev IL Inst of Technology, Ser A     5.000     04/01/31     1,523,820  
  3,500     Illinois Fin Auth Rev Northwestn Mem Hosp, Ser A     5.375     08/15/24     3,534,160  
  2,000     Illinois Fin Auth Rev Northwestn Mem Hosp, Ser A     5.750     08/15/30     2,030,860  
  4,500     Illinois Fin Auth Rev Osf Hlthcare Sys, Ser A     5.750     11/15/37     3,882,915  
  2,885     Illinois Fin Auth Rev Rush Univ Med Ctr Oblig Group, Ser A     7.250     11/01/38     3,017,883  
  4,500     Illinois Fin Auth Rev Sherman Hlth Sys 2007, Ser A     5.500     08/01/37     3,067,560  
  1,330     Illinois Fin Auth Solid Waste Rev Disp Waste Mgmt Inc Proj (AMT)     5.050     08/01/29     1,121,389  
  1,250     Illinois Hlth Fac Auth Rev Evangelical Hosp, Ser C (FSA Insd)     6.750     04/15/17     1,524,500  
  2,275     Illinois Hlth Fac Auth Rev South Suburban Hosp (d)     7.000     02/15/18     2,768,038  
  285     Illinois St (NATL Insd)     5.250     12/01/20     285,744  
  250     Metropolitan Pier & Expo Auth IL Dedicated St Tax Rev McCormick Pl Expn Proj, Ser A (NATL Insd)     5.375     12/15/18     257,342  
 
 
22
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Illinois (Continued)
$ 1,170     University IL Univ Rev Auxiliary Fac Sys (NATL Insd)     4.500 %   04/01/36   $ 1,066,034  
  775     Will-Kankakee Regl Dev Auth IL Multi-Family Hsg Rev Sr Estates Supportive Living (AMT)     7.000     12/01/42     577,290  
  1,500     Yorkville, IL Utd City Spl Svc Area Spl Tax No 2006-113 Cannonball/Beecher     5.750     03/01/28     823,995  
                             
                          86,356,237  
                             
        Indiana  2.0%
  2,200     Indiana Fin Auth Hosp Rev Deaconess Hosp Oblig, Ser A     6.750     03/01/39     2,205,984  
  5,600     Indiana Hlth & Ed Fac Fin Auth Rev Ascension Hlth Sr Credit (a)     5.000     11/15/36     5,319,384  
  4,000     Indiana Hlth Fac Fin Auth Rev Deaconess Hosp, Ser A (AMBAC Insd)     5.375     03/01/34     3,354,080  
  1,280     North Adams, IN Cmnty Sch Renovation Bldg Corp Cap Apprec First Mtg (FSA Insd)     *       01/15/19     869,427  
  1,500     Petersburg, IN Pollutn Ctl Rev IN
Pwr & Lt (AMT)
    5.950     12/01/29     1,154,190  
  500     Vigo Cnty, IN Hosp Auth Rev Union Hosp Inc (c)     5.750     09/01/42     326,965  
                             
                          13,230,030  
                             
        Iowa  1.5%
  1,685     Des Moines, IA Pub Pkg Sys, Ser A (NATL Insd)     5.750     06/01/15     1,747,850  
  1,785     Des Moines, IA Pub Pkg Sys, Ser A (NATL Insd)     5.750     06/01/16     1,851,580  
  500     Jefferson Cnty, IA Hosp Rev Jefferson Cnty Hosp Proj, Ser C     5.950     08/01/37     318,765  
  500     Sibley, IA Hlthcare Fac Rev Osceola Cmnty Hosp Proj     6.000     12/01/37     319,470  
  1,410     Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C     5.375     06/01/38     791,024  
  5,950     Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C     5.500     06/01/42     3,340,152  
 
 
23
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Iowa (Continued)
$ 2,250     Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C     5.625 %   06/01/46   $ 1,270,913  
                             
                          9,639,754  
                             
        Kansas  1.3%
  2,100     Burlington, KS Environmental Impt Rev KC Rfdg Pwr LT, Ser B (Syncora Gtd) (b)     5.000     12/01/23     2,125,389  
  850     Labette Cnty, KS Hosp Rev Rfdg & Impt, Ser A     5.750     09/01/37     753,389  
  1,250     Lenexa, KS Hlthcare Fac Rev Rfdg & Impt     5.500     05/15/39     776,762  
  3,300     Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser A     5.000     05/15/24     2,467,377  
  1,650     Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser A     5.000     05/15/36     1,079,958  
  700     Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser B     5.125     05/15/42     450,702  
  1,075     Olathe, KS Sr Living Fac Rev Catholic Care Campus Inc, Ser A     6.000     11/15/38     713,026  
                             
                          8,366,603  
                             
        Kentucky  1.7%
  2,300     Kentucky Econ Dev Fin Auth Louisville Arena Proj Rev Louisville Arena Sub, Ser A-1 (AGL Insd)     5.750     12/01/28     2,382,133  
  2,470     Kentucky St Ppty & Bldg Commn Rev Rfdg Proj No 93 (AGL Insd)     5.250     02/01/24     2,630,426  
  2,780     Kentucky St Ppty & Bldg Commn Rev Rfdg Proj No 93 (AGL Insd)     5.250     02/01/25     2,938,210  
  3,915     Louisville & Jefferson Cnty, KY Metro Govt Hlth Sys Rev Norton Hlthcare Inc     5.250     10/01/36     3,173,264  
                             
                          11,124,033  
                             
        Louisiana  1.6%
  830     Colonial Pinnacle Cmnty Dev Dist Dev     6.750     05/01/23     588,943  
  1,485     Lakeshore Vlg Master Cmnty Dev Dist LA Spl Assmt     5.250     07/01/17     1,144,772  
 
 
24
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Louisiana (Continued)
$ 2,300     Louisiana Hsg Fin Agy Rev Azalea Estates Rfdg, Ser A (GNMA Collateralized) (AMT)     5.375 %   10/20/39   $ 2,302,277  
  3,100     Louisiana St Ctzn Ppty Ins Corp Assmt Rev, Ser C-2 (AGL Insd)     6.750     06/01/26     3,333,833  
  2,750     Rapides Fin Auth LA Rev Cleco Pwr Proj (AMT) (b)     5.250     11/01/37     2,654,520  
                             
                          10,024,345  
                             
        Maryland  1.4%
  1,050     Gaithersburg, MD Econ Dev Rev Asbury MD Oblig Group A     5.125     01/01/36     722,988  
  1,535     Maryland St Cmnty Dev Admin Dept Hsg & Cmnty Dev, Ser H (AMT)     5.100     09/01/37     1,483,562  
  2,500     Maryland St Hlth & Higher Ed Fac Auth Rev MD Inst College of Art     5.000     06/01/40     1,857,250  
  2,750     Maryland St Hlth & Higher Ed Fac Auth Rev Mercy Med Ctr, Ser A     5.500     07/01/42     2,238,472  
  2,250     Maryland St Trans Auth Arpt Baltimore/WA Intl Arpt, Ser B (AMBAC Insd) (AMT)     5.125     03/01/24     2,102,198  
  950     Prince Georges Cnty, MD Spl Oblig Natl Harbor Proj     5.200     07/01/34     531,079  
                             
                          8,935,549  
                             
        Massachusetts  3.7%
  350     Massachusetts St Dev Fin Agy Rev Linden Ponds Inc Fac, Ser A     5.750     11/15/35     202,412  
  750     Massachusetts St Dev Fin Agy Rev Linden Ponds Inc Fac, Ser A     5.750     11/15/42     419,783  
  7,000     Massachusetts St Hlth & Ed Fac Auth Rev Harvard Univ, Ser B (a)     5.000     10/01/38     7,232,890  
  500     Massachusetts St Hlth & Ed Fac Auth Rev Hlthcare Sys Covenant
(Prerefunded @ 1/01/12)
    6.000     07/01/31     504,908  
  35     Massachusetts St Hlth & Ed Fac Auth Rev Partn Hlthcare Sys, Ser C     5.750     07/01/32     35,329  
  4,435     Massachusetts St Hlth & Ed Fac Auth Rev Univ MA Mem Issue, Ser D     5.000     07/01/33     3,244,557  
  1,000     Massachusetts St Hsg Fin Agy Hsg, Ser A (AMT)     5.100     12/01/27     949,290  
 
 
25
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Massachusetts (Continued)
$ 5,740     Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev, Ser A (AMBAC Insd) (a)     4.500 %   08/15/35   $ 5,483,996  
  3,850     Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev, Ser A (FSA Insd) (a)     5.000     08/15/30     3,928,848  
  1,800     Massachusetts St Wtr Res Auth, Ser B     5.000     08/01/22     1,995,624  
                             
                          23,997,637  
                             
        Michigan  4.5%
  3,015     Detroit, MI Downtown Dev Auth Tax Increment Rev, Ser C1 (f)     *       07/01/17     1,951,700  
  3,050     Detroit, MI Downtown Dev Auth Tax Increment Rev, Ser C1 (f)     *       07/01/18     1,838,052  
  3,050     Detroit, MI Downtown Dev Auth Tax Increment Rev, Ser C1 (f)     *       07/01/19     1,703,547  
  3,050     Detroit, MI Downtown Dev Auth Tax Increment Rev, Ser C1 (f)     *       07/01/22     1,361,367  
  3,050     Detroit, MI Downtown Dev Auth Tax Increment Rev, Ser C1 (f)     *       07/01/23     1,253,489  
  3,050     Detroit, MI Downtown Dev Auth Tax Increment Rev, Ser C1 (f)     *       07/01/24     1,153,266  
  3,500     Grand Rapids, MI Downtown Dev Cap Apprec (NATL Insd)     *       06/01/15     2,727,445  
  2,765     Grand Rapids, MI Downtown Dev Cap Apprec (NATL Insd)     *       06/01/16     2,031,777  
  1,760     Kent Hosp Fin Auth MI Rev Metro Hosp Proj, Ser A     6.000     07/01/35     1,268,890  
  1,350     Kent Hosp Fin Auth MI Rev Spectrum Hlth, Ser A (b)     5.250     01/15/47     1,382,076  
  600     Kent Hosp Fin Auth MI Rev Spectrum Hlth, Ser A (b)     5.500     01/15/47     619,800  
  2,500     Michigan St Strategic Fd Detroit Edison Co Proj Rfdg, Ser C (Syncora Gtd) (AMT)     5.450     12/15/32     2,134,300  
  2,500     Michigan St Strategic Fd Detroit Edison Pollutn Ctl Rfdg (AMBAC Insd) (b)     4.850     09/01/30     2,461,425  
  1,000     Michigan St Strategic Fd Detroit Edison Polutnl Ctl Rfdg, Ser B (AMT)     5.650     09/01/29     899,550  
 
 
26
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Michigan (Continued)
$ 2,250     Michigan St Strategic Fd Ltd Oblig Rev Detroit Edison Co Proj Rfdg, Ser A (Syncora Gtd) (AMT)     5.500 %   06/01/30   $ 1,970,213  
  7,000     Michigan Tob Settlement Fin Auth Tob Settlement Asset Sr, Ser A     6.000     06/01/48     4,110,120  
                             
                          28,867,017  
                             
        Minnesota  1.5%
  1,380     Annandale, MN Econ Dev Auth
Sr Hsg & Hlthcare Rev Annandale Care Ctr Proj, Ser A
    5.900     11/01/37     922,627  
  525     Chisago, MN Hlthcare Fac Rev CDL Homes LLC Proj     6.000     08/01/42     357,105  
  1,000     Meeker Cnty, MN Gross Rev Hosp Fac Mem Hosp Proj     5.750     11/01/37     744,850  
  2,750     Minneapolis, MN Hlthcare Sys Rev Fairview Hlth Svc, Ser A     6.375     11/15/23     2,928,805  
  1,850     Minneapolis, MN Hlthcare Sys Rev Fairview Hlth Svc, Ser A     6.625     11/15/28     1,946,736  
  50     Minnesota Agric & Econ Dev Brd Rev Hlthcare Sys (NATL Insd)     5.750     11/15/26     46,354  
  300     North Oaks, MN Sr Hsg Rev Presbyterian Homes North Oaks     6.000     10/01/27     241,068  
  775     North Oaks, MN Sr Hsg Rev Presbyterian Homes North Oaks     6.000     10/01/33     601,230  
  2,200     Saint Paul, MN Hsg & Redev Auth Hlthcare Fac Rev Hlth Partners Oblig Group Proj     5.250     05/15/36     1,717,914  
                             
                          9,506,689  
                             
        Missouri  2.6%
  245     Cape Girardeau Cnty, MO Indl Dev Auth Hlthcare Fac Rev Southeast MO Hosp Assoc     5.625     06/01/27     214,358  
  1,700     Cass Cnty, MO Hosp Rev     5.625     05/01/38     1,262,182  
  1,250     Cole Cnty, MO Indl Dev Auth Sr Living Fac Rev Lutheran Sr Svc Heisinger Proj     5.500     02/01/35     934,825  
  1,625     Jefferson Cnty, MO Reorg Sch Dist No R-6 (FGIC Insd)     5.625     03/01/20     1,685,222  
  2,500     Joplin, MO Indl Dev Auth Indl Rev Christian Homes Inc Rfdg, Ser F     5.750     05/15/26     1,762,300  
  1,000     Joplin, MO Indl Dev Auth Indl Rev Christian Homes Inc Rfdg, Ser F     5.750     05/15/31     659,240  
 
 
27
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Missouri (Continued)
$ 1,265     Maryland Heights, MO Tax Increment Rev South Heights Redev Proj Rfdg, Ser A     5.500 %   09/01/18   $ 1,080,057  
  1,250     Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Friendship Vlg West Cnty, Ser A     5.375     09/01/21     1,096,088  
  975     Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Saint Andrews Res for Srs, Ser A     6.375     12/01/30     720,262  
  2,335     Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Saint Andrews Res for Srs, Ser A     6.375     12/01/41     1,623,572  
  900     Saint Louis, MO Indl Dev Auth Tax Increment & Cmnty Impt Dist Loughborough Com Redev Rfdg     5.750     11/01/27     671,562  
  2,765     Springfield, MO Pub Bldg Corp Leasehold Rev Springfield Branson Arpt, Ser B
(AMBAC Insd) (AMT)
    4.550     07/01/29     2,301,088  
  3,195     Springfield, MO Pub Bldg Corp Leasehold Rev Springfield Branson Arpt, Ser B
(AMBAC Insd) (AMT)
    4.600     07/01/36     2,525,072  
                             
                          16,535,828  
                             
        Nebraska  0.4%
  2,615     Omaha Pub Dist NE Elec Rev Sub Sys, Ser A (a)     5.000     02/01/34     2,625,774  
                             
         
        Nevada  3.1%
  3,000     Clark Cnty, NV Indl Dev Rev Southwest Gas Corp Proj, Ser A (AMBAC Insd) (AMT)     5.250     07/01/34     2,207,340  
  70     Clark Cnty, NV Indl Dev Rev Southwest Gas Corp Proj, Ser A (BHAC Insd) (AMT)     4.750     09/01/36     55,474  
  3,500     Clark Cnty, NV Indl Dev Southwest Gas Corp Proj, Ser D1 (NATL Insd) (AMT)     5.250     03/01/38     2,535,435  
  4,020     Nevada Hsg Div Single Family Mtg Rev, Ser A (GNMA Collateralized) (AMT)     5.875     04/01/38     4,093,727  
  4,300     Nevada St Cap Impt & Cultural Affairs, Ser C     5.000     06/01/22     4,609,514  
 
 
28
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Nevada (Continued)
$ 3,300     Nevada St Cap Impt & Cultural Affairs, Ser C     5.000 %   06/01/23   $ 3,509,913  
  3,460     Reno, NV Hosp Rev Renown Regl Med Ctr Proj, Ser A     5.250     06/01/37     2,716,515  
                             
                          19,727,918  
                             
        New Hampshire  0.6%
  1,000     New Hampshire Hlth & Ed Fac Auth Rev Derryfield Sch (Prerefunded @ 7/01/10)     7.000     07/01/30     1,086,790  
  750     New Hampshire St Business Fin Auth Pollutn Ctl Rev The Utd Illum Rfdg, Ser A (AMT) (b)     6.875     12/01/29     790,830  
  1,050     New Hampshire St Business Fin Auth Pollutn Ctl Rev Utd Illum Co Proj (AMT) (b)     7.125     07/01/27     1,056,457  
  900     New Hampshire St Business Fin Auth Wtr Fac Rev Pennichuck Wtrwks Inc
(AMBAC Insd) (AMT)
    6.300     05/01/22     900,477  
                             
                          3,834,554  
                             
        New Jersey  7.5%
  375     Burlington Cnty, NJ Brdg Cmnty Econ Dev Rev The Evergreens Proj     5.625     01/01/38     226,410  
  1,200     New Jersey Econ Dev Auth Rev Cig Tax     5.750     06/15/29     889,860  
  3,150     New Jersey Econ Dev Auth Rev Cig Tax     5.750     06/15/34     2,251,400  
  25,000     New Jersey Econ Dev Auth St Contract Econ Recovery (NATL Insd) (f)     5.900     03/15/21     30,048,000  
  2,000     New Jersey Hlthcare Fac Fin Auth Rev Holy Name Hosp     5.000     07/01/36     1,388,520  
  2,300     New Jersey Hlthcare Fac Fin Auth Rev Saint Peters Univ Hosp Oblig     5.750     07/01/37     1,806,144  
  2,095     New Jersey St Trans Tr Fd Auth Trans Sys, Ser A     5.750     06/15/17     2,382,266  
  4,500     Tobacco Settlement Fin Corp NJ, Ser 1-A     4.750     06/01/34     2,439,900  
  13,750     Tobacco Settlement Fin Corp NJ, Ser 1-A     5.000     06/01/41     7,280,350  
                             
                          48,712,850  
                             
 
 
29
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        New Mexico  0.5%
$ 1,250     Jicarilla, NM Apache Nation Rev, Ser A (Acquired 10/23/03, Cost $1,275,475) (g)     5.500 %   09/01/23   $ 1,282,987  
  2,050     New Mexico St Hosp Equip Ln Council Hosp Rev Presbyterian Hlthcare Svc, Ser A     6.375     08/01/32     2,170,889  
                             
                          3,453,876  
                             
        New York  12.9%
  4,000     Metropolitan Trans Auth NY Dedicated Tax Fd, Ser B     5.250     11/15/28     4,077,800  
  2,500     Metropolitan Trans Auth NY Rev Rfdg, Ser A (NATL Insd)     5.250     11/15/31     2,503,125  
  2,400     New York City Hsg Dev Corp Multi-Family Hsg Rev, Ser E1 (AMT)     5.350     11/01/37     2,279,088  
  3,165     New York City Indl Dev Agy Rev Liberty 7 World Trade Ctr Proj, Ser B     6.750     03/01/15     2,747,410  
  8,450     New York City Mun Wtr Fin Auth Wtr & Swr Rev, Ser AA     5.000     06/15/22     8,975,421  
  16,930     New York City Trans Auth Trans Fac Livingston Plaza Proj Rfdg, Ser 1993 (FSA Insd) (d)     5.400     01/01/18     19,644,725  
  2,800     New York City Trans Fin Auth Bldg Aid Rev
Fiscal 2009, Ser S-3
    5.250     01/15/39     2,754,248  
  7,225     New York, NY Sub, Ser I-1 (a)     5.000     02/01/26     7,290,748  
  2,500     New York St Dorm Auth Lease Rev Muni Hlth Fac Impt Pgm, Ser A (FSA Insd)     5.500     05/15/25     2,501,625  
  5,170     New York St Dorm Auth Rev City Univ Sys, Ser C     7.500     07/01/10     5,333,113  
  3,000     New York St Dorm Auth Rev Hosp (NATL Insd)     5.000     08/01/33     2,942,730  
  2,840     New York St Loc Assistance Corp Rfdg, Ser E     6.000     04/01/14     3,190,428  
  1,500     New York St Urban Dev Corp Rev Correctional Fac Rfdg     5.500     01/01/13     1,577,190  
  6,050     Port Auth NY & NJ Cons 144th (a)     5.000     10/01/35     6,087,026  
  6,050     Port Auth NY & NJ, Ser 1546 (a)     5.000     10/01/35     6,087,026  
  3,000     Port Auth NY & NJ Spl Oblig Rev Spl Proj JFK Intl Arpt Term 6 (NATL Insd) (AMT)     5.750     12/01/22     2,502,240  
 
 
30
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        New York (Continued)
$ 3,000     Port Auth NY & NJ Spl Oblig Rev Spl Proj JFK Intl Arpt Term 6 (NATL Insd) (AMT)     5.750 %   12/01/25   $ 2,400,930  
  950     Seneca Nation Indians Cap Impt Auth NY Spl Oblig, Ser A (c)     5.000     12/01/23     610,708  
                             
                          83,505,581  
                             
        North Carolina  5.0%
  4,000     North Carolina Eastern Muni Pwr Agy Pwr Sys Rev, Ser D     6.750     01/01/26     4,045,280  
  1,500     North Carolina Med Care Commn Retirement Fac Rev First Mtg Southminster Proj, Ser A     5.750     10/01/37     1,110,915  
  25,000     North Carolina Muni Pwr Agy No 1 Catawba Elec Rev Rfdg (NATL Insd)     6.000     01/01/12     27,143,750  
                             
                          32,299,945  
                             
        North Dakota  0.2%
  470     North Dakota St Hsg Fin Agy Rev Hsg Fin Pgm Home Mtg Fin, Ser B (NATL Insd) (AMT)     5.500     07/01/29     462,983  
  1,500     Ward Cnty, ND Hlthcare Fac Rev Trinity Obligated Group Rfdg     5.125     07/01/29     1,089,315  
                             
                          1,552,298  
                             
        Ohio  9.2%
  8,055     Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2     5.750     06/01/34     5,099,701  
  4,770     Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2     5.875     06/01/30     3,235,396  
  6,500     Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2     5.875     06/01/47     3,651,505  
  450     Cuyahoga Cnty, OH Hlthcare & Indpt Living Fac Rev Eliza Jennings Sr Care, Ser A     5.750     05/15/27     306,797  
  2,000     Cuyahoga Cnty, OH Hosp Fac Rev Canton Inc Proj     7.500     01/01/30     1,983,120  
  1,000     Delaware Cnty, OH Cap Fac
(Prerefunded @ 12/01/10)
    6.000     12/01/25     1,092,970  
  1,000     Lorain Cnty, OH Hosp Rev Catholic Hlthcare, Ser S     5.375     10/01/30     956,470  
  4,525     Lorain Cnty Ohio Hosp Rev Fac Catholic (FSA Insd) (a)     5.000     02/01/24     4,657,402  
  4,500     Lorain Cnty Ohio Hosp Rev Fac Catholic (FSA Insd) (a)     5.000     02/01/24     4,631,670  
 
 
31
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Ohio (Continued)
$ 4,800     Lorain Cnty Ohio Hosp Rev Rfdg Catholic (FSA Insd) (a)     5.000 %   04/01/24   $ 4,940,448  
  1,625     Montgomery Cnty, OH Rev Catholic Hlth, Ser C (FSA Insd) (a)     5.000     10/01/41     1,493,505  
  2,370     Montgomery Cnty, OH Rev Miami Vly Hosp, Ser A     6.000     11/15/28     2,408,915  
  1,465     Montgomery Cnty, OH Rev Miami Vly Hosp, Ser A     6.250     11/15/39     1,488,894  
  8,000     Ohio St Air Quality Dev Auth Rev Dayton Pwr (BHAC Insd) (AMT) (a)     4.800     09/01/36     6,996,160  
  1,000     Ohio St Higher Ed Fac Commn Rev Hosp Univ Hosp Hlth Sys Inc, Ser A (BHAC Insd)     5.250     01/15/46     1,008,750  
  3,000     Ohio St Higher Ed Fac Commn Rev Univ Hosp Hlth Sys, Ser 2009A     6.750     01/15/39     3,042,030  
  3,110     Ohio St Hsg Fin Agy Residential Mtg Rev Bkd Secs Pgm, Ser D
(GNMA Collateralized) (AMT) (a)
    5.300     09/01/28     3,043,539  
  5,475     Ohio St Hsg Fin Agy Residential Mtg Rev Bkd Secs Pgm, Ser D
(GNMA Collateralized) (AMT) (a)
    5.400     03/01/33     5,338,563  
  3,780     Ohio St Hsg Fin Agy Residential Mtg Rev Bkd Secs Pgm, Ser F (GNMA Collateralized) (a)     5.500     09/01/39     3,806,006  
                             
                          59,181,841  
                             
        Oklahoma  0.8%
  2,175     Chickasaw Nation, OK Hlth Sys (c)     6.250     12/01/32     1,780,716  
  1,500     Jenks, OK Aquarium Auth Rev First Mtg (NATL Insd) (Prerefunded @ 7/01/10)     6.100     07/01/30     1,611,525  
  1,575     Oklahoma City, OK Arpt Tr Jr Lien 27th, Ser B (FSA Insd) (AMT)     5.750     07/01/16     1,590,010  
                             
                          4,982,251  
                             
        Oregon  0.3%
  1,985     Portland, OR Urban Renewal & Redev Downtown Wtrfront, Ser A (AMBAC Insd)     5.750     06/15/16     2,058,108  
                             
 
 
32
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
         
        Pennsylvania  1.5%
$ 2,750     Allegheny Cnty, PA Hosp Dev Auth Rev Hlth Sys West PA, Ser A     5.000 %   11/15/28   $ 1,513,765  
  230     Allegheny Cnty, PA San Auth Swr Rev (NATL Insd)     5.500     12/01/30     233,344  
  875     Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Continuing Care Proj     6.250     02/01/35     539,070  
  1,550     Pennsylvania Econ Dev Fin Auth Exempt Fac Rev Reliant Energy, Ser B (AMT)     6.750     12/01/36     1,438,726  
  1,600     Pennsylvania Hsg Fin Agy Single Family Mtg Rev, Ser 94-A (AMT)     5.100     10/01/31     1,500,416  
  2,000     Pennsylvania St Tpk Com Tpk Rev Sub, Ser A (AGL Insd)     5.000     06/01/39     2,026,800  
  1,000     Philadelphia, PA Auth Indl Dev PA Arpt Sys Proj, Ser A (NATL Insd) (AMT)     5.125     07/01/19     974,800  
  1,355     Ridley Park, PA Hosp Auth Rev Taylor Hosp, Ser A (d)     6.000     12/01/13     1,494,375  
                             
                          9,721,296  
                             
        Rhode Island  0.5%
  1,100     Rhode Island Hsg & Mtg Fin Corp Homeownership Oppty, Ser 57-B (AMT)     5.350     10/01/37     1,044,593  
  3,000     Tobacco Settlement Fin Corp, Ser A     6.250     06/01/42     2,215,350  
                             
                          3,259,943  
                             
        South Carolina  5.6%
  2,375     Berkeley Cnty, SC Sch Dist Ctf Partn Berkeley Sch Fac Grp Inc (NATL Insd) (d)     5.250     02/01/16     2,756,947  
  3,375     Charleston Ed Excellence Fin Corp SC Rev (a)     5.250     12/01/25     3,444,863  
  10,125     Charleston Ed Excellence Fin Corp SC Rev (a)     5.250     12/01/26     10,282,140  
  1,840     Myrtle Beach, SC Hospitality Fee Rev, Ser A (NATL Insd)     5.375     06/01/21     1,873,782  
  1,935     Myrtle Beach, SC Hospitality Fee Rev, Ser A (NATL Insd)     5.375     06/01/22     1,961,084  
  1,400     South Carolina Jobs Econ Dev Auth Hlth Fac Rev First Mtg Wesley Commons Rfdg     5.300     10/01/36     802,242  
  915     South Carolina Jobs Econ Dev Auth Hlthcare Fac Rev First Mtg Lutheran Homes Rfdg     5.500     05/01/28     608,475  
 
 
33
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        South Carolina (Continued)
$ 1,000     South Carolina Jobs Econ Dev Auth Hlthcare Fac Rev First Mtg Lutheran Homes Rfdg     5.625 %   05/01/42   $ 593,950  
  3,000     South Carolina Jobs Econ Dev Auth Hosp Fac Rev Palmetto Hlth Alliance Rfdg, Ser A     6.250     08/01/31     2,640,690  
  1,000     South Carolina Jobs Econ Dev Auth Hosp Rev Rfdg & Impt Anmed Hlth, Ser B (AGL Insd) (h)     5.500     02/01/38     977,320  
  4,500     South Carolina Jobs Econ Dev Auth Indl Rev Elec & Gas Co Proj, Ser A (AMBAC Insd)     5.200     11/01/27     4,527,135  
  3,750     South Carolina Jobs Econ Dev Auth Indl Rev Elec & Gas Co Proj, Ser B (AMBAC Insd) (AMT)     5.450     11/01/32     3,378,750  
  750     South Carolina Jobs Econ Dev Auth Rev Woodlands at Furman Proj, Ser A     6.000     11/15/27     523,823  
  1,920     Tobacco Settlement Rev Mgmt Auth SC Tob Settlement Rev Rfdg     5.000     06/01/18     1,898,669  
                             
                          36,269,870  
                             
        South Dakota  0.6%
  2,250     Deadwood, SD Ctf Partn (ACA Insd)     6.375     11/01/20     2,303,820  
  1,000     South Dakota St Hlth & Ed Fac Auth Rev Children’s Care Hosp Rfdg
(Prerefunded @ 11/01/09)
    6.125     11/01/29     1,038,260  
  710     South Dakota St Hlth & Ed Fac Auth Rev Vocational Ed Prog, Ser A (AMBAC Insd)     5.400     08/01/13     715,559  
                             
                          4,057,639  
                             
        Tennessee  2.4%
  4,345     Chattanooga, TN Hlth Ed & Hsg Fac Brd Rev CDFI Phase I LLC Proj Rfdg, Ser A     5.125     10/01/35     2,854,882  
  3,500     Johnson City, TN Hlth & Ed Fac Brd Hosp Rev First Mtg Mtn St Hlth Rfdg, Ser A (NATL Insd) (Prerefunded @ 7/01/12)     7.500     07/01/25     3,985,835  
 
 
34
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Tennessee (Continued)
$ 5,345     Johnson City, TN Hlth & Ed Fac Brd Hosp Rev First Mtg Mtn St Hlth, Ser A     5.500 %   07/01/36   $ 4,193,527  
  4,550     Shelby Cnty, TN Hlth Ed & Hsg Fac Brd Rev Methodist, Ser B (FSA Insd) (a)     5.250     09/01/27     4,588,084  
                             
                          15,622,328  
                             
        Texas  20.0%
  2,375     Alliance Arpt Auth Inc TX Spl Fac Rev FedEx Corp Proj Rfdg (AMT)     4.850     04/01/21     1,930,827  
  300     Brazos Cnty, TX Hlth Fac Dev Oblig Grp     5.375     01/01/32     246,432  
  8,000     Coastal Bend Hlth Fac Dev Corp TX Christus Hlth Sub, Ser B-2 (FSA Insd) (b) (e)     1.920     07/01/31     8,000,000  
  1,080     Dallas Cnty, TX Flood Ctl Dist Rfdg     6.750     04/01/16     1,095,077  
  1,875     Dallas, TX Civic Ctr Rfdg & Impt (AGL Insd)     5.000     08/15/18     2,065,387  
  2,200     Dallas, TX Civic Ctr Rfdg & Impt (AGL Insd)     5.000     08/15/19     2,402,224  
  4,000     Dallas-Fort Worth, TX Intl Arpt Rev Impt & Rfdg, Ser A (BHAC Insd) (AMT)     5.500     11/01/31     3,773,600  
  1,050     Dallas-Fort Worth, TX Intl Arpt Rev Jt, Ser C (NATL Insd) (AMT)     5.750     11/01/18     1,052,635  
  2,000     Dallas-Fort Worth, TX Intl Arpt Rev Jt, Ser C (NATL Insd) (AMT)     6.000     11/01/23     2,004,000  
  4,000     Dallas-Fort Worth, TX Intl Arpt Rev, Ser A (NATL Insd) (AMT)     5.750     11/01/30     3,965,880  
  7,960     El Paso Cnty, TX Hosp Dist, Ser A (AGL Insd) (a)     5.000     08/15/37     7,794,352  
  1,500     Gulf Coast Waste Disp Auth TX Waste Mgmt, Ser D (AMT)     4.550     04/01/12     1,431,570  
  1,200     Harris Cnty, TX Hlth Fac Dev Corp Hosp Rev Rfdg Mem Hermann Hlthcare Sys, Ser B     7.250     12/01/35     1,277,460  
  2,000     Harris Cnty, TX Hlth Fac Dev Corp Rev Christus Hlth, Ser A-4 (FSA Insd) (b) (e)     2.250     07/01/31     2,000,000  
  1,000     Harris Cnty, TX Hlth Fac Dev Mem Hermann Hlthcare, Ser A (Prerefunded @ 6/01/11)     6.375     06/01/29     1,115,840  
 
 
35
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Texas (Continued)
$ 1,000     Harris Cnty, TX Sr Lien-Toll Rd, Ser A (h)     5.000 %   08/15/32   $ 1,003,920  
  1,000     Houston, TX Arpt Sys Rev Sub Lien, Ser A (FSA Insd) (AMT)     5.625     07/01/30     964,570  
  5,105     Houston, TX Hotel Occupancy Tax & Spl Rev Convention & Entmt, Ser B (AMBAC Insd)     5.750     09/01/15     5,322,881  
  225     Houston, TX Pub Impt & Rfdg (FSA Insd)     5.750     03/01/15     237,546  
  12,800     Houston, TX Util Sys Rev Rfdg Comb First Lien, Ser A (FSA Insd) (a)     5.000     11/15/36     12,852,736  
  5,025     Judson, TX Indpt Sch Dist Sch Bldg (AGL Insd) (a)     5.000     02/01/37     5,040,678  
  1,650     Lufkin, TX Hlth Fac Dev Corp Hlth Sys Rev Mem Hlth Sys East TX     5.500     02/15/32     1,151,618  
  1,250     Lufkin, TX Hlth Fac Dev Corp Hlth Sys Rev Mem Hlth Sys East TX     5.500     02/15/37     846,000  
  1,825     MC Lennan Cnty, TX Pub Fac Corp Proj Rev     6.625     06/01/35     1,953,115  
  1,410     Mesquite, TX Hlth Fac Dev Retirement Fac Christian Care Ctr     5.625     02/15/35     946,378  
  1,500     Mesquite, TX Hlth Fac Dev Retirement Fac Christian Care Ctr
(Prerefunded @ 2/15/10)
    7.500     02/15/18     1,594,965  
  1,100     Metropolitan Hlth Fac Dev Corp TX Wilson N Jones Mem Hosp Proj     7.200     01/01/21     977,779  
  1,500     Metropolitan Hlth Fac Dev Corp TX Wilson N Jones Mem Hosp Proj     7.250     01/01/31     1,188,015  
  1,500     Mission, TX Econ Dev Corp Solid Waste Disp Rev Waste Mgmt Inc Proj (AMT) (b)     6.000     08/01/20     1,468,260  
  1,500     North Central, TX Hlth Fac Dev Corp Rev Hosp Baylor Hlthcare Sys Proj, Ser A     5.125     05/15/29     1,426,920  
  5,750     North Central, TX Hlth Fac Dev Corp Rev Hosp Childrens Med Ctr Dallas (AMBAC Insd)     5.250     08/15/32     5,389,993  
  1,000     North TX Twy Auth Rev Rfdg Sys First Tier, Ser B     5.625     01/01/28     1,010,500  
  1,000     North TX Twy Auth Rev Rfdg Sys First Tier, Ser B     6.000     01/01/26     1,046,650  
 
 
36
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Texas (Continued)
$ 1,420     North TX Twy Auth Rev Rfdg Sys First Tier, Ser B     6.000 %   01/01/27   $ 1,479,242  
  2,250     North TX Twy Auth Rev Rfdg Sys First Tier, Ser L-2 (b)     6.000     01/01/38     2,333,543  
  4,300     North TX Twy Auth Rev Toll Second Tier Rfdg, Ser F     5.750     01/01/33     4,107,188  
  1,000     Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckingham Sr Living Cmnty Inc     5.625     11/15/27     709,970  
  4,200     Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckingham Sr Living Cmnty Inc     5.750     11/15/37     2,765,070  
  8,000     Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckner Retirement Svc Inc Proj     5.250     11/15/37     6,247,920  
  650     Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac CC Young Mem Home Proj     5.750     02/15/25     461,247  
  4,900     Tarrant Cnty, TX Cultural Ed Fac Fin Corp Rev Christus Hlth Rfdg, Ser A (AGL Insd)     6.250     07/01/28     5,275,095  
  4,000     Texas A & M Univ Rev Fin Sys, Ser A     5.000     05/15/28     4,189,720  
  8,700     Texas Commn Mobility Fd (a)     5.000     04/01/28     9,074,883  
  535     Texas St Pub Ppty Fin Corp Rev Mental Hlth & Retardation Rfdg (FSA Insd)     5.500     09/01/13     539,933  
  2,750     Texas St Vets Housing Assistance Pgm Vet, Ser B (FHA Gtd) (AMT)     6.100     06/01/31     2,753,575  
  1,500     Texas Wtr Dev Brd Rev St Revolving Fd Sr Lien, Ser B     5.250     07/15/17     1,537,770  
  4,900     Tyler, TX Hlth Fac Dev Corp Hosp Rev & Impt East TX Med Ctr Rfdg, Ser A     5.375     11/01/37     3,398,738  
                             
                          129,451,702  
                             
        Utah  0.3%
  1,000     Utah Hsg Corp Single Family Mtg Rev, Ser E (AMT) (a)     5.250     01/01/39     934,530  
  1,100     Utah St Charter Sch Fin Auth Charter Sch Rev Summit Academy, Ser A     5.800     06/15/38     763,477  
                             
                          1,698,007  
                             
 
 
37
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        Virginia  0.5%
$ 750     Lexington, VA Indl Dev Auth Residential Care Fac Rev Mtg Kendal at Lexington, Ser A     5.500 %   01/01/37   $ 466,957  
  750     Peninsula Town Ctr Cmnty Dev Auth VA Spl Oblig     6.450     09/01/37     475,538  
  800     Tobacco Settlement Fin Corp VA     5.500     06/01/26     897,144  
  2,000     White Oak Vlg Shops VA Cmnty Dev Auth Spl Assmt Rev     5.300     03/01/17     1,663,660  
                             
                          3,503,299  
                             
        Washington  3.3%
  2,500     Energy Northwest WA Elec Rev Proj No 3 Rfdg, Ser A (FSA Insd)     5.500     07/01/18     2,679,350  
  5,360     Energy Northwest WA Elec Rev Proj No 3 Rfdg, Ser B (FSA Insd)     6.000     07/01/16     5,948,796  
  1,000     Goat Hill Ppty WA Lease Rev Govt Office Bldg Proj (NATL Insd)     5.000     12/01/33     1,000,920  
  1,950     Kalispel Tribe Indians Priority Dist WA Rev     6.625     01/01/28     1,450,585  
  1,000     Port Seattle, WA Rev, Ser B
(NATL Insd) (AMT)
    5.625     02/01/24     1,001,160  
  1,435     Radford Ct Ppty WA Student Hsg Rev (NATL Insd)     6.000     06/01/15     1,509,548  
  1,585     Radford Ct Ppty WA Student Hsg Rev (NATL Insd)     6.000     06/01/16     1,667,341  
  1,000     Seattle, WA Muni Lt & Pwr Rev     5.625     12/01/18     1,046,010  
  3,000     Spokane, WA Pub Fac Dist Hotel Motel & Sales Use Tax (NATL Insd)     5.250     09/01/33     3,003,480  
  2,325     Washington St Hsg Fin Commn Nonprofit Rev Custodial Rcpt Wesley Homes, Ser 2007A-2027
(Acquired 05/07/08, Cost $2,325,000) (f) (g)
    6.000     01/01/27     1,757,398  
  1,000     Washington St Hsg Fin Commn Nonprofit Rev Skyline at First Hill Proj, Ser A     5.625     01/01/38     578,830  
                             
                          21,643,418  
                             
        West Virginia  0.6%
  250     Ohio Cnty, WV Cnty Commn Tax Increment Rev Fort Henry Ctr Fin Dist, Ser A     5.625     06/01/22     197,120  
 
 
38
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
        West Virginia (Continued)
$ 1,290     Pleasants Cnty, WV Pollutn Ctl Rev Cnty Comm Allegheny Rfdg, Ser F     5.250 %   10/15/37   $ 1,061,993  
  1,500     West Virginia St Hosp Fin Auth Hosp Rev Thomas Hlth Sys     6.000     10/01/20     1,324,575  
  1,695     West Virginia St Hosp Fin Auth Hosp Rev Thomas Hlth Sys     6.250     10/01/23     1,450,835  
                             
                          4,034,523  
                             
        Wisconsin  2.7%
  510     Badger Tob Asset Sec Corp WI
(Prerefunded @ 6/01/12)
    6.375     06/01/32     573,423  
  2,000     Southeast WI Professional Baseball Pk Dist Sales Tax Rev Rfdg, Ser A (NATL Insd)     5.500     12/15/20     2,404,500  
  700     Superior, WI Coll Util Rev Rfdg Superior Wtr Lt & Pwr Proj, Ser A (AMT)     5.375     11/01/21     627,767  
  625     Superior, WI Coll Util Rev Superior Wtr Lt & Pwr Proj, Ser B (AMT)     5.750     11/01/37     523,750  
  4,100     Wisconsin Hsg & Econ Dev Auth Home Ownership Rev, Ser A (AMT) (a)     5.300     09/01/23     4,152,070  
  4,895     Wisconsin Hsg & Econ Dev Auth Home Ownership Rev, Ser A (AMT) (a)     5.500     09/01/28     4,865,826  
  1,545     Wisconsin St Gen Rev Appropriation Rev, Ser A     5.375     05/01/25     1,592,617  
  1,040     Wisconsin St Hlth & Ed Fac Auth Rev Ministry Hlth (FSA Insd)     5.000     08/01/34     956,103  
  1,825     Wisconsin St Hlth & Ed Fac Auth Rev Pro Hlthcare Inc Oblig Group     6.625     02/15/39     1,835,859  
                             
                          17,531,915  
                             
        Wyoming  0.2%
  2,000     Sweetwater Cnty, WY Solid Waste Disp Rev FMC Corp Proj Rfdg (AMT)     5.600     12/01/35     1,493,020  
                             
         
        Guam  0.5%
  3,985     Guam Pwr Auth Rev, Ser A (AMBAC Insd)     5.250     10/01/34     3,151,179  
                             
 
 
39
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
                             
Par
               
Amount
               
(000)   Description   Coupon   Maturity   Value
 
 
         
        Puerto Rico  0.1%
$ 1,000     Puerto Rico Indl Tourist Ed Med & Environmental Ctl Fac Fin Auth Higher Ed Rev     5.375 %   02/01/19   $ 838,500  
      50     Puerto Rico Pub Bldgs Auth Rev Govt Fac, Ser I (Comwth Gtd)
(Prerefunded @ 7/01/14)
    5.250     07/01/33     56,770  
                             
                          895,270  
                             
        U.S. Virgin Islands  0.6%
   1,500     Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt, Ser A     6.375     10/01/19     1,521,150  
   1,000     Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt, Ser A (ACA Insd)
(Prerefunded @ 10/01/10)
    6.125     10/01/29     1,083,020  
   1,000     Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt, Ser A
(Prerefunded @ 10/01/10)
    6.500     10/01/24     1,092,200  
                             
                          3,696,370  
                             
         
Total Investments  187.5%
  (Cost $1,314,822,400)
    1,212,386,875  
         
Liability for Floating Rate Note Obligations Related to Securities Held  (23.9%)
(Cost ($154,490,000))
       
  (154,490 )   Notes with interest rates ranging from 0.51% to 1.74% at April 30, 2009 and contractual maturities of collateral ranging from 2023 to 2041 (See Note 1) (i)     (154,490,000 )
                 
         
Total Net Investments  163.6%
(Cost $1,160,332,400)
    1,057,896,875  
         
Other Assets in Excess of Liabilities  2.7%
    17,395,704  
         
Preferred Shares (including accrued distributions)  (66.3%)
    (428,842,331 )
         
         
Net Assets Applicable to Common Shares  100.0%
  $ 646,450,248  
         
 
Percentages are calculated as a percentage of net assets applicable to common shares.
 
* Zero coupon bond
 
(a) Underlying security related to Inverse Floaters entered into by the Trust. See Note 1.
 
(b) Variable Rate Coupon
 
 
40
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments  n  April 30, 2009 (Unaudited)  
continued
 
 
(c) 144A-Private Placement security which is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. This security may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers.
 
(d) Escrowed to Maturity
 
(e) Security includes a feature allowing the Trust an option on any interest rate payment date to offer the security for sale at par. The sale is contingent upon market conditions.
 
(f) Security has been deemed illiquid.
 
(g) Security is restricted and may be resold only in transactions exempt from registration which are normally those transactions with qualified institutional buyers. Restricted securities comprise 1.0% of net assets applicable to common shares.
 
(h) Security purchased on a when-issued or delayed delivery basis.
 
(i) Floating rate notes. The interest rates shown reflect the rates in effect at April 30, 2009.
 
ACA—American Capital Access
AGC—AGC Insured Custody Certificates
AGL—Assured Guaranty Ltd.
AMBAC—AMBAC Indemnity Corp.
AMT—Alternative Minimum Tax
BHAC—Berkshire Hathaway Assurance Corp.
Comwth—Commonwealth of Puerto Rico
FGIC—Financial Guaranty Insurance Co.
FHA—Federal Housing Administration
FSA—Financial Security Assurance Inc.
GNMA—Government National Mortgage Association
NATL—National Public Finance Guarantee Corp.
Syncora—Syncora Guarantee Inc.
 
 
41
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Financial Statements
 
Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
 
             
Assets:
           
Total Investments (Cost $1,314,822,400)
  $ 1,212,386,875      
Receivables:
           
Interest
    20,570,795      
Investments Sold
    962,843      
Other
    2,506      
             
Total Assets
    1,233,923,019      
             
Liabilities:
           
Payables:
           
Floating Rate Note Obligations
    154,490,000      
Investments Purchased
    1,978,500      
Investment Advisory Fee
    431,875      
Custodian Bank
    199,428      
Income Distributions—Common Shares
    152,752      
Other Affiliates
    23,232      
Trustees’ Deferred Compensation and Retirement Plans
    1,078,756      
Accrued Expenses
    275,897      
             
Total Liabilities
    158,630,440      
Preferred Shares (including accrued distributions)
    428,842,331      
             
Net Assets Applicable to Common Shares
  $ 646,450,248      
             
Net Asset Value Per Common Share ($646,450,248 divided by 53,821,931 shares outstanding)
  $ 12.01      
             
Net Assets Consist of:
           
Common Shares ($0.01 par value with an unlimited number of shares authorized, 53,821,931 shares issued and outstanding)
  $ 538,219      
Paid in Surplus
    822,854,059      
Accumulated Undistributed Net Investment Income
    17,480,628      
Accumulated Net Realized Loss
    (91,987,133 )    
Net Unrealized Depreciation
    (102,435,525 )    
             
Net Assets Applicable to Common Shares
  $ 646,450,248      
             
Preferred Shares ($0.01 par value, authorized 100,000,000 shares, 17,152 issued with liquidation preference of $25,000 per share)
  $ 428,800,000      
             
Net Assets Including Preferred Shares
  $ 1,075,250,248      
             
 
 
42
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Financial Statements  continued
 
Statement of Operations
For the Six Months Ended April 30, 2009 (Unaudited)
 
             
Investment Income:
           
Interest
  $ 36,646,188      
             
Expenses:
           
Investment Advisory Fee
    3,098,781      
Interest and Residual Trust Expense
    1,279,042      
Preferred Share Maintenance
    519,013      
Accounting and Administrative Expenses
    126,821      
Professional Fees
    113,593      
Transfer Agent Fees
    76,608      
Reports to Shareholders
    48,750      
Custody
    33,014      
Registration Fees
    20,224      
Trustees’ Fees and Related Expenses
    10,630      
Depreciation in Trustees’ Deferred Compensation Accounts
    (280,436 )    
Other
    21,145      
             
Total Expenses
    5,067,185      
Investment Advisory Fee Reduction
    563,414      
Less Credits Earned on Cash Balances
    719      
             
Net Expenses
    4,503,052      
             
Net Investment Income
  $ 32,143,136      
             
Realized and Unrealized Gain/Loss:
           
Net Realized Loss
  $ (27,990,470 )    
             
Unrealized Appreciation/Depreciation:
           
Beginning of the Period
    (178,981,146 )    
End of the Period
    (102,435,525 )    
             
Net Unrealized Appreciation During the Period
    76,545,621      
             
Net Realized and Unrealized Gain
  $ 48,555,151      
             
Distributions to Preferred Shareholders
  $ (1,889,894 )    
             
Net Increase in Net Assets Applicable to Common Shares from Operations
  $ 78,808,393      
             
 
 
43
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Financial Statements  continued
 
Statements of Changes in Net Assets  (Unaudited)
 
                 
    For The
  For The
    Six Months Ended
  Year Ended
    April 30, 2009   October 31, 2008
     
 
From Investment Activities:
               
Operations:
               
Net Investment Income
  $ 32,143,136     $ 68,828,372  
Net Realized Loss
    (27,990,470 )     (54,091,880 )
Net Unrealized Appreciation/Depreciation During the Period
    76,545,621       (219,980,173 )
Distributions to Preferred Shareholders:
               
Net Investment Income
    (1,889,894 )     (16,126,788 )
                 
                 
Change in Net Assets Applicable to Common Shares from Operations
    78,808,393       (221,370,469 )
Distributions to Common Shareholders:
               
Net Investment Income
    (23,090,320 )     (45,002,791 )
                 
                 
Net Change in Net Assets Applicable to Common Shares from Investment Activities
    55,718,073       (266,373,260 )
                 
                 
From Capital Transactions:
               
Repurchase of Shares
    (93,449 )     (10,565,264 )
                 
Net Change in Net Assets Applicable to Common Shares
    55,624,624       (276,938,524 )
Net Assets Applicable to Common Shares:
               
Beginning of the Period
    590,825,624       867,764,148  
                 
End of the Period (Including accumulated undistributed net investment income of $17,480,628 and $10,317,706, respectively)
  $ 646,450,248     $ 590,825,624  
                 
 
 
44
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Financial Statements  continued
 
Statement of Cash Flows
For the Six Months Ended April 30, 2009 (Unaudited)
 
             
Change in Net Assets from Operations (including Preferred Share Distributions)
  $ 78,808,393      
             
Adjustments to Reconcile the Change in Net Assets from Operations to Net Cash Provided by Operating Activities:
           
Purchases of Investments
    (128,574,933 )    
Proceeds from Sales of Investments
    177,723,524      
Amortization of Premium
    565,493      
Accretion of Discount
    (1,205,080 )    
Net Realized Loss on Investments
    27,990,470      
Net Change in Unrealized Appreciation on Investments
    (76,545,621 )    
Decrease in Interest Receivables
    560,620      
Decrease in Receivable for Investments Sold
    333,027      
Increase in Other Assets
    (1,574 )    
Decrease in Investments Purchased Payable
    (3,135,744 )    
Decrease in Investment Advisory Fees
    (3,444 )    
Decrease in Other Affiliates Payable
    (42,000 )    
Decrease in Trustees’ Deferred Compensation and Retirement Plans
    (277,119 )    
Decrease in Accrued Expenses
    (59,043 )    
Decrease in Custodian Bank Payable
    (1,825,374 )    
             
Total Adjustments
    (4,496,798 )    
             
Net Cash Provided by Operating Activities
    74,311,595      
             
Cash Flows From Financing Activities
           
Repurchased Shares
    (93,449 )    
Dividends Paid
    (23,703,146 )    
Proceeds from and Repayments of Floating Rate Note Obligations
    (50,515,000 )    
             
Net Cash Used for Financing Activities
    (74,311,595 )    
             
Net Increase in Cash
    -0-      
Cash at the Beginning of the Period
    -0-      
             
Cash at the End of the Period
  $ -0-      
             
Supplemental Disclosures of Cash Flow Information
           
Cash Paid During the Period for Interest
  $ 1,279,042      
             
 
 
45
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Financial Highlights  (Unaudited)
 
The following schedule presents financial highlights for one common share of the Trust outstanding throughout the periods indicated.
 
                                                 
    Six Months
                   
    Ended
                   
    April 30,
  Year Ended October 31,
    2009   2008   2007   2006   2005   2004
     
 
Net Asset Value, Beginning of the Period
  $ 10.98     $ 15.89     $ 16.97     $ 16.80     $ 17.34     $ 17.15  
                                                 
Net Investment Income
    0.60 (a)     1.27 (a)     1.18 (a)     1.11 (a)     1.09       1.09  
Net Realized and Unrealized Gain/Loss
    0.90       (5.05 )     (1.06 )     0.47       (0.48 )     0.31  
Common Share Equivalent of Distributions Paid to Preferred Shareholders:
                                               
Net Investment Income
    (0.04 )     (0.30 )     (0.37 )     (0.29 )     (0.22 )     (0.10 )
Net Realized Gain
    -0-       -0-       (0.01 )     (0.06 )     -0-       (0.01 )
                                                 
Total from Investment Operations
    1.46       (4.08 )     (0.26 )     1.23       0.39       1.29  
Distributions Paid to Common Shareholders:
                                               
Net Investment Income
    (0.43 )     (0.83 )     (0.80 )     (0.82 )     (0.93 )     (1.00 )
Net Realized Gain
    -0-       -0-       (0.02 )     (0.24 )     -0-       (0.10 )
                                                 
Net Asset Value, End of the Period
  $ 12.01     $ 10.98     $ 15.89     $ 16.97     $ 16.80     $ 17.34  
                                                 
                                                 
Common Share Market Price at End of the Period
  $ 11.71     $ 10.11     $ 14.11     $ 14.94     $ 14.61     $ 15.34  
Total Return* (b)
    20.65% **     –23.77%       –0.39%       9.86%       1.31%       5.76%  
Net Assets Applicable to Common Shares at End of the Period (In millions)
  $ 646.5     $ 590.8     $ 867.8     $ 743.4     $ 736.0     $ 468.3  
Ratio of Expenses to Average Net Assets Applicable to Common Shares* (c)
    1.51%       2.23%       2.45%       1.28%       1.17%       1.27%  
Ratio of Net Investment Income to Average Net Assets Applicable to Common Shares* (c)
    10.80%       8.78%       7.85%       6.68%       6.51%       6.43%  
Portfolio Turnover
    11% **     55%       26%       25%       25%       18%  
*  If certain expenses had not been voluntarily assumed by Van Kampen, total return would have been lower and the ratios would have been as follows:
Ratio of Expenses to Average Net Assets Applicable to Common Shares (c)
    1.70%       2.40%       2.61%       N/A       N/A       N/A  
Ratio of Net Investment Income to Average Net Assets Applicable to Common Shares (c)
    10.61%       8.61%       7.69%       N/A       N/A       N/A  
                                                 
Supplemental Ratios:                                                
Ratio of Expenses (Excluding Interest and Residual Trust Expenses) to Average Net Assets Applicable to Common Shares (c)
    1.08%       0.98%       1.12%       1.17%       1.17%       1.27%  
Ratio of Expenses (Excluding Interest and Residual Trust Expenses) to Average Net Assets Applicable Including Preferred Shares (c)
    0.63%       0.60%       0.64%       0.73%       0.74%       0.80%  
Ratio of Net Investment Income to Average Net Assets Applicable to Common Shares (d)
    10.17%       6.72%       5.36%       4.94%       5.22%       5.82%  
                                                 
Senior Securities:                                                
Total Preferred Shares Outstanding
    17,152       17,152       21,440       17,200       17,200       10,600  
Asset Coverage Per Preferred Share (e)
  $ 62,692     $ 59,484     $ 65,519     $ 68,253     $ 67,812     $ 69,204  
Involuntary Liquidating Preference Per Preferred Share
  $ 25,000     $ 25,000     $ 25,000     $ 25,000     $ 25,000     $ 25,000  
Average Market Value Per Preferred Share
  $ 25,000     $ 25,000     $ 25,000     $ 25,000     $ 25,000     $ 25,000  
 
** Non-Annualized
(a) Based on average shares outstanding.
(b) Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trust’s dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated.
(c) Ratios do not reflect the effect of dividend payments to preferred shareholders.
(d) Ratios reflect the effect of dividend payments to preferred shareholders.
(e) Calculated by subtracting the Trust’s total liabilities (not including the preferred shares) from the Trust’s total assets and dividing this by the number of preferred shares outstanding.
N/A=Not Applicable
 
 
46
See Notes to Financial Statements


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  n  April 30, 2009 (Unaudited)
 
1. Significant Accounting Policies
Van Kampen Trust for Investment Grade Municipals (the “Trust”) is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Trust’s investment objective is to seek to provide a high level of current income exempt from federal income taxes, consistent with preservation of capital.
The Trust will invest substantially all of its assets in municipal securities rated investment grade at the time of investment. The Trust commenced investment operations on January 24, 1992.
The following is a summary of significant accounting policies consistently followed by the Trust in the preparation of its financial statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
 
A. Security Valuation Municipal bonds are valued by independent pricing services or dealers using the mean of the last reported bid and asked prices or, in the absence of market quotations, at fair value based upon yield data relating to municipal bonds with similar characteristics and general market conditions. Securities which are not valued by independent pricing services or dealers are valued at fair value using procedures established in good faith by the Board of Trustees. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances. Futures contracts are valued at the settlement price established each day on the exchange on which they are traded. Short-term securities with remaining maturities of 60 days or less are valued at amortized cost, which approximates market value.
The Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157), effective November 1, 2008. In accordance with FAS 157, fair value is defined as the price that the Trust would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. FAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Trust’s investments. The inputs are summarized in the three broad levels listed below.
 
Level 1— quoted prices in active markets for identical investments
Level 2— other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
 
 
47


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
Level 3— significant unobservable inputs (including the Trust’s own assumptions in determining the fair value of investments)
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of April 30, 2009 in valuing the Trust’s investments carried at value:
 
         
    Investments in
Valuation Inputs   Securities
 
Level 1—Quoted Prices
  $ -0-  
Level 2—Other Significant Observable Inputs
    1,212,386,875  
Level 3—Significant Unobservable Inputs
    -0-  
         
Total
  $ 1,212,386,875  
         
 
B. Security Transactions Security transactions are recorded on a trade date basis. Realized gains and losses are determined on an identified cost basis. The Trust may purchase and sell securities on a “when-issued” or “delayed delivery” basis, with settlement to occur at a later date. The value of the security so purchased is subject to market fluctuations during this period. Purchasing securities on this basis involves a risk that the market value at the time of delivery may be lower than the agreed upon purchase price resulting in an unrealized loss. The Trust will segregate assets with the custodian having an aggregate value at least equal to the amount of the when-issued, delayed delivery purchase commitments until payment is made. At April 30, 2009, the Trust had $1,978,500 of when-issued or delayed delivery purchase commitments.
 
C. Investment Income Interest income is recorded on an accrual basis. Bond premium is amortized and discount is accreted over the expected life of each applicable security.
 
D. Federal Income Taxes It is the Trust’s policy to comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable income to its shareholders. Therefore, no provision for federal income taxes is required. Financial Accounting Standards Board Interpretation No. 48 Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has concluded there are no significant uncertain tax positions that would require recognition in the financial statements. If applicable, the Trust recognizes interest accrued related to unrecognized tax benefits in “Interest Expense” and penalties in “Other” expenses on the Statement of Operations. The Trust files tax returns with the U.S. Internal Revenue Service, New York and various states. Generally, each of the tax years in the four year period ended October 31, 2008, remains subject to examination by taxing authorities.
The Trust intends to utilize provisions of the federal income tax laws which allow it to carry a realized capital loss forward for eight years following the year of the loss and offset these losses against any future realized capital gains. At October 31, 2008, the Trust had an
 
 
48


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
accumulated capital loss carryforward for tax purposes of $63,647,992, which will expire according to the following schedule:
 
                 
Amount       Expiration
 
$ 11,260,708           October 31, 2015  
  52,387,284           October 31, 2016  
 
At April 30, 2009, the cost and related gross unrealized appreciation and depreciation were as follows:
 
             
Cost of investments for tax purposes
  $ 1,139,032,146      
             
Gross tax unrealized appreciation
  $ 39,164,453      
Gross tax unrealized depreciation
    (120,302,353 )    
             
Net tax unrealized depreciation on investments
  $ (81,137,900 )    
             
 
E. Distribution of Income and Gains The Trust declares and pays monthly dividends from net investment income to common shareholders. Net realized gains, if any, are distributed at least annually on a pro rata basis to common and preferred shareholders. Distributions from net realized gains for book purposes may include short-term capital gains and a portion of future gains, which are included as ordinary income for tax purposes.
The tax character of distributions paid during the year ended October 31, 2008 was as follows:
 
         
Distributions paid from:
       
Ordinary income
  $ 142,380  
Tax exempt income
    61,279,813  
Long-term capital gain
    -0-  
         
    $ 61,422,193  
         
 
As of October 31, 2008, the components of distributable earnings on a tax basis were as follows:
 
         
Undistributed ordinary income
  $ 262,882  
Undistributed tax-exempt income
    10,808,732  
 
Net realized gains or losses may differ for financial reporting and tax purposes as a result of the deferral of gains relating to wash sale transactions and gains or losses recognized for tax purposes but not for book.
 
F. Floating Rate Note Obligations Related to Securities Held The Trust enters into transactions in which it transfers to dealer trusts fixed rate bonds in exchange for cash and residual interests in the dealer trusts’ assets and cash flows, which are in the form of inverse floating rate investments. The dealer trusts fund the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The Trust enters into shortfall agreements with the dealer trusts, which commit the Trust to pay the dealer trusts, in certain circumstances, the difference between the liquidation
 
 
49


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
value of the fixed rate bonds held by the dealer trusts and the liquidation value of the floating rate notes held by third parties, as well as any shortfalls in interest cash flows. The residual interests held by the Trust (inverse floating rate investments) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the dealer trusts to the Trust, thereby collapsing the dealer trusts. The Trust accounts for the transfer of bonds to the dealer trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust liabilities under the caption “Floating Rate Note Obligations” on the Statement of Assets and Liabilities. The Trust records the interest income from the fixed rate bonds under the caption “Interest” and records the expenses related to floating rate note obligations and any administrative expenses of the dealer trusts under the caption “Interest and Residual Trust Expenses” on the Trust’s Statement of Operations. The notes issued by the dealer trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the dealer trusts for redemption at par at each reset date. At April 30, 2009, Trust investments with a value of $261,788,173 are held by the dealer trusts and serve as collateral for the $154,490,000 in floating rate notes outstanding at that date. Contractual maturities of the floating rate notes and interest rates in effect at April 30, 2009 are presented on the Portfolio of Investments. The average floating rate notes outstanding and average annual interest and fee rate related to residual interests during the six months ended April 30, 2009 were $177,211,397 and 1.46%, respectively.
 
G. Credits Earned on Cash Balances During the six months ended April 30, 2009 the Trust’s custody fee was reduced by $719 as a result of credits earned on cash balances.
 
2. Investment Advisory Agreement and Other Transactions with Affiliates
Under the terms of the Trust’s Investment Advisory Agreement, Van Kampen Asset Management (the “Adviser”) provides investment advice and facilities to the Trust for an annual fee payable monthly of .55% of the average daily net assets including current preferred shares and leverage of $107,200,000 entered into to retire previously issued preferred shares of the Trust. The Adviser has agreed to waive investment advisory fees equal to 0.10% of the average daily net assets including current preferred shares and leverage of $107,200,000 entered into to retire previously issued shares of the Trust. During the six months ended April 30, 2009, the Adviser waived approximately $563,400 of its advisory fees. This waiver is voluntary and can be discontinued at any time.
For the six months ended April 30, 2009, the Trust recognized expenses of approximately $56,600 representing legal services provided by Skadden, Arps, Slate, Meagher & Flom LLP, of which a trustee of the Trust is a partner of such firm and he and his law firm provide legal services as legal counsel to the Trust.
Under separate Legal Services, Accounting Services and Chief Compliance Officer (CCO) Employment agreements, the Adviser provides accounting and legal services and the CCO provides compliance services to the Trust. The costs of these services are allocated to each trust. For the six months ended April 30, 2009, the Trust recognized expenses of approximately $77,400 representing Van Kampen Investments Inc.’s or its affiliates’ (collectively “Van Kampen”) cost of providing accounting and legal services to the Trust, as well as the salary, benefits and related costs of the CCO and related support staff paid by Van Kampen.
 
 
50


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
Services provided pursuant to the Legal Services agreement are reported as part of “Professional Fees” on the Statement of Operations. Services provided pursuant to the Accounting Services and CCO Employment agreement are reported as part of “Accounting and Administrative Expenses” on the Statement of Operations.
Certain officers and trustees of the Trust are also officers and directors of Van Kampen. The Trust does not compensate its officers or trustees who are also officers of Van Kampen.
The Trust provides deferred compensation and retirement plans for its trustees who are not officers of Van Kampen. Under the deferred compensation plan, trustees may elect to defer all or a portion of their compensation to a later date. Benefits under the retirement plan are payable upon retirement for a ten-year period and are based upon each trustee’s years of service to the Trust. The maximum annual benefit per trustee under the plan is $2,500.
 
3. Capital Transactions
For the six months ended April 30, 2009 and the year ended October 31, 2008, transactions in common shares were as follows:
 
                 
    Six Months Ended
  Year Ended
    April 30, 2009   October 31, 2008
 
Beginning Shares
    53,831,731       54,609,130  
Shares Issued Through Dividend Reinvestment
    -0-       182  
Shares Repurchased*
    (9,800 )     (777,581 )
                 
Ending Shares
    53,821,931       53,831,731  
                 
 
* The Trust has a share repurchase program for purposes of enhancing stockholder value and reducing the discount at which the Trust’s shares trade from their net asset value. For the six months ended April 30, 2009 and the year ended October 31, 2008, the Trust repurchased 9,800 and 777,581 of its shares, respectively, at an average discount of 11.74% and 8.60%, respectively, from net asset value per share. The Trust expects to continue to repurchase its outstanding shares at such time and in such amounts as it believes such activity will further the accomplishment of the foregoing objectives, subject to the review of the Trustees.
 
4. Investment Transactions
During the period, the cost of purchases and proceeds from sales of investments, excluding short-term investments, were $128,574,933 and $177,723,524, respectively.
 
5. Derivative Financial Instruments
A derivative financial instrument in very general terms refers to a security whose value is “derived” from the value of an underlying asset, reference rate or index.
In order to seek to manage the interest rate exposure of the Trust’s portfolio in a changing interest rate environment, the Trust may purchase or sell financial futures contracts or engage in transactions involving interest rate swaps, caps, floors or collars. The Trust expects to enter into these transactions primarily as a hedge against anticipated interest rate or fixed-income market changes, for duration management or for risk management purposes, but may also enter into these transactions to generate additional income. All of the Trust’s portfolio holdings, including derivative instruments, are marked to market each day with the change in value reflected in the unrealized appreciation/depreciation. Upon disposition, a realized gain or loss is generally recognized.
 
 
51


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
Summarized below are the specific types of derivative financial instruments used by the Trust.
 
A. Futures Contracts A futures contract is an agreement involving the delivery of a particular asset on a specified future date at an agreed upon price. The Trust generally invests in exchange traded futures contracts on U.S. Treasury Bonds and Notes and typically closes the contract prior to the delivery date. These contracts are generally used to manage the Trust’s effective maturity and duration. Upon entering into futures contracts, the Trust maintains an amount of cash or liquid securities with a value equal to a percentage of the contract amount with either a futures commission merchant pursuant to the rules and regulations promulgated under the 1940 Act, or with its custodian in an account in the broker’s name. This amount is known as initial margin. During the period the futures contract is open, payments are received from or made to the broker based upon changes in the value of the contract (the variation margin). The risk of loss associated with a futures contract is in excess of the variation margin reflected on the Statement of Assets and Liabilities. There were no futures transactions entered into during the six months ended April 30, 2009.
 
B. Inverse Floating Rate Securities The Trust may invest a portion of its assets in inverse floating rate municipal securities, which are variable debt instruments that pay interest at rates that move in the opposite direction of prevailing interest rates. These investments are typically used by the Trust in seeking to enhance the yield of the portfolio or used as an alternative form of leverage in order to redeem a portion of the Trust’s preferred shares. Inverse floating rate investments tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. Inverse floating rate investments have varying degrees of liquidity. Inverse floating rate securities in which the Trust may invest include derivative instruments such as residual interest bonds (“RIBs”) or tender option bonds (“TOBs”). Such instruments are typically created by a special purpose trust that holds long-term fixed rate bonds (which may be tendered by the Trust in certain instances) and sells two classes of beneficial interests: short-term floating rate interests, which are sold to third party investors, and inverse floating residual interests, which are purchased by the Trust. The short-term floating rate interests have first priority on the cash flow from the bonds held by the special purpose trust and the Trust is paid the residual cash flow from the bonds held by the special purpose trust.
The Trust generally invests in inverse floating rate investments that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The market value of a “leveraged” inverse floating rate investment generally will fluctuate in response to changes in market rates of interest to a greater extent than the value of an unleveraged investment. The extent of increases and decreases in the value of inverse floating rate investments generally will be larger than changes in an equal principal amount of a fixed rate security having similar credit quality, redemption provisions and maturity, which may cause the Trust’s net asset value to be more volatile than if it had not invested in inverse floating rate investments.
In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be
 
 
52


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation.
 
6. Preferred Shares
The Trust has outstanding 17,152 Auction Preferred Shares (APS) in nine series. Series A, B and C contain 2,400 shares each, Series D contains 1,280 shares, Series E, F and G contain 1,760 shares each, Series H contains 1,792 shares and Series I contains 1,600 shares. Dividends are cumulative and the dividend rates are generally reset every 28 days through an auction process. Beginning on February 15, 2008 and continuing through April 30, 2009, all series of preferred shares of the Trust were not successfully remarketed. As a result, the dividend rates of these preferred shares were reset to the maximum applicable rate on APS. The average rate in effect on April 30, 2009 was 0.328%. During the six months ended April 30, 2009, the rates ranged from 0.287% to 4.426%.
Historically, the Trust paid annual fees equivalent to .25% of the preferred share liquidation value for the remarketing efforts associated with the preferred auction. Effective March 16, 2009, the Trust decreased this amount to .15% due to auction failures. In the future, if auctions no longer fail, the Trust may return to an annual fee payment of .25% of the preferred share liquidation value. These fees are included as a component of “Preferred Share Maintenance” expense on the Statement of Operations.
The APS are redeemable at the option of the Trust in whole or in part at the liquidation value of $25,000 per share plus accumulated and unpaid dividends. The Trust is subject to certain asset coverage tests and the APS are subject to mandatory redemption if the tests are not met.
The Trust has the option to enter into additional inverse floating rate securities as an alternative form of leverage in order to redeem and retire a portion of its preferred shares. For the six months ended April 30, 2009, the Trust did not exercise this option.
 
7. Indemnifications
The Trust enters into contracts that contain a variety of indemnifications. The Trust’s maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
 
8. Accounting Pronouncements
On March 19, 2008, Financial Accounting Standards Board released Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (FAS 161). FAS 161 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management does not believe the adoption of FAS 161 will impact the financial statement amounts; however, additional footnote disclosures may be required about the use of derivative instruments and hedging items.
 
 
53


 

Van Kampen Trust for Investment Grade Municipals
Notes to Financial Statements  
n  April 30, 2009 (Unaudited)  continued
 
On April 9, 2009, the Financial Accounting Standards Board issued Staff Position No. 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly (FSP 157-4). FSP 157-4 provides additional guidance for estimating fair value in accordance with FAS 157 when the volume and level of activity for the assets or liability have significantly decreased. FSP 157-4 also requires additional disaggregation of the current FAS 157 required disclosures. FSP 157-4 is effective for interim and annual reporting periods ending after June 15, 2009, and shall be applied prospectively. At this time, management is evaluating the implications of FSP 157-4 and the impact it will have on the financial statement disclosures.
 
 
54


 

Van Kampen Trust for Investment Grade Municipals
Board of Trustees, Officers, and Important Addresses
 
     
Board of Trustees
David C. Arch
Jerry D. Choate
Rod Dammeyer
Linda Hutton Heagy
R. Craig Kennedy
Howard J Kerr
Jack E. Nelson
Hugo F. Sonnenschein
Wayne W. Whalen*
 – Chairman
Suzanne H. Woolsey
 
Officers
Edward C. Wood III
President and Principal Executive Officer
Kevin Klingert
Vice President
Stefanie V. Chang Yu
Vice President and Secretary
John L. Sullivan
Chief Compliance Officer
Stuart N. Schuldt
Chief Financial Officer and Treasurer
  Investment Adviser
Van Kampen Asset Management
522 Fifth Avenue
New York, New York 10036

Custodian
State Street Bank
and Trust Company
One Lincoln Street
Boston, Massachusetts 02111

Transfer Agent
Computershare Trust Company, N.A.
c/o Computershare Investor Services
P.O. Box 43078
Providence, Rhode Island 02940-3078

Legal Counsel
Skadden, Arps, Slate,
Meagher & Flom LLP
155 North Wacker Drive
Chicago, Illinois 60606

Independent Registered
Public Accounting Firm
Deloitte & Touche LLP
111 South Wacker Drive
Chicago, Illinois 60606-4301
 
 
 
* “Interested persons” of the Trust, as defined in the Investment Company Act of 1940, as amended.
 
 
55


 

Van Kampen Trust for Investment Grade Municipals
An Important Notice Concerning Our
U.S. Privacy Policy
 
We are required by federal law to provide you with a copy of our Privacy Policy annually.
 
This Policy applies to current and former individual clients of Van Kampen Investments Inc., Van Kampen Asset Management, Van Kampen Advisors Inc., Van Kampen Funds Inc., Van Kampen Investor Services Inc. and Van Kampen Exchange Corp., as well as current and former individual investors in Van Kampen mutual funds, unit investment trusts, and related companies.
 
This Policy is not applicable to partnerships, corporations, trusts or other non-individual clients or account holders, nor is this Policy applicable to individuals who are either beneficiaries of a trust for which we serve as trustee or participants in an employee benefit plan administered or advised by us. This Policy is, however, applicable to individuals who select us to be a custodian of securities or assets in individual retirement accounts, 401(k) accounts, 529 Educational Savings Accounts, accounts subject to the Uniform Gifts to Minors Act, or similar accounts. Please note that we may amend this Policy at any time, and will inform you of any changes to this Policy as required by law.
 
We Respect Your Privacy
 
We appreciate that you have provided us with your personal financial information and understand your concerns about safeguarding such information. We strive to maintain the privacy of such information while we help you achieve your financial objectives. This Policy describes what nonpublic personal information we collect about you, how we collect it, when we may share it with others, and how others may use it. It discusses the steps you may take to limit our sharing of information about you with affiliated Van Kampen companies (“affiliated companies”). It also discloses how you may limit our affiliates’ use of shared information for marketing purposes. Throughout this Policy, we refer to the nonpublic information that personally identifies you or your accounts as “personal information.”
 
1. What Personal Information Do We Collect About You?
 
To better serve you and manage our business, it is important that we collect and maintain accurate information about you. We obtain this information from applications and other forms you submit to us, from your dealings with us, from consumer reporting agencies and from third parties and other sources. For example:
 
  •   We collect information such as your name, address, e-mail address, phone number and account title.  
 
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Van Kampen Trust for Investment Grade Municipals
An Important Notice Concerning Our
U.S. Privacy Policy  continued
 
  •   We may obtain information about account balances, your use of account(s) and the types of products and services you prefer to receive from us through your dealings and transactions with us and other sources.  
 
  •   We may obtain information about your creditworthiness and credit history from consumer reporting agencies.  
 
  •   We may collect background information from and through third-party vendors to verify representations you have made and to comply with various regulatory requirements.  
 
  •   If you interact with us through our public and private Web sites, we may collect information that you provide directly through online communications (such as an e-mail address). We may also collect information about your Internet service provider, your domain name, your computer’s operating system and Web browser, your use of our Web sites and your product and service preferences, through the use of ”cookies.” ”Cookies” recognize your computer each time you return to one of our sites, and help to improve our sites’ content and personalize your experience on our sites by, for example, suggesting offerings that may interest you. Please consult the Terms of Use of these sites for more details on our use of cookies.  
 
2. When Do We Disclose Personal Information We Collect About You?
 
To provide you with the products and services you request, to better serve you, to manage our business and as otherwise required or permitted by law, we may disclose personal information we collect about you to other affiliated companies and to nonaffiliated third parties.
 
A. Information We Disclose to Our Affiliated Companies. In order to manage your account(s) effectively, including servicing and processing your transactions, to let you know about products and services offered by us and affiliated companies, to manage our business, and as otherwise required or permitted by law, we may disclose personal information to other affiliated companies. Offers for products and services from affiliated companies are developed under conditions designed to safeguard your personal information.
 
B. Information We Disclose to Third Parties. We do not disclose personal information that we collect about you to nonaffiliated third parties except to enable them to provide marketing services on our behalf, to perform joint marketing agreements with other financial institutions, and as otherwise required or permitted by law. For example, some instances where we may disclose information about you to third
 
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Van Kampen Trust for Investment Grade Municipals
An Important Notice Concerning Our
U.S. Privacy Policy  continued
 
parties include: for servicing and processing transactions, to offer our own products and services, to protect against fraud, for institutional risk control, to respond to judicial process or to perform services on our behalf. When we share personal information with a nonaffiliated third party, they are required to limit their use of personal information to the particular purpose for which it was shared and they are not allowed to share personal information with others except to fulfill that limited purpose.
 
3. How Do We Protect the Security and Confidentiality of Personal Information We Collect About You?
 
We maintain physical, electronic and procedural security measures to help safeguard the personal information we collect about you. We have internal policies governing the proper handling of client information. Third parties that provide support or marketing services on our behalf may also receive personal information, and we require them to adhere to confidentiality standards with respect to such information.
 
4. How Can You Limit the Sharing of Certain Types of Personal Information With Affiliated Companies?
 
We respect your privacy and offer you choices as to whether we share with affiliated companies personal information that was collected to determine your eligibility for products and services you request (“eligibility information”). Please note that, even if you direct us not to share eligibility information with affiliated companies (“opt-out”), we may still share personal information, including eligibility information, with those companies in circumstances excluded from the opt-out under applicable law, such as to process transactions or to service your account. We may also share certain other types of personal information with affiliated companies—such as your name, address, telephone number, e-mail address and account number(s), and information about your transactions and experiences with us.
 
5. How Can You Limit the Use of Certain Types of Personal Information by Affiliated Companies for Marketing?
 
You may limit affiliated companies from marketing their products or services to you based on your personal information that they receive from affiliated companies. This information includes your income, assets and account history. Your choice to limit marketing offers from affiliated companies will apply until you tell us to change your choice.
 
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Van Kampen Trust for Investment Grade Municipals
An Important Notice Concerning Our
U.S. Privacy Policy  continued
 
If you wish to opt-out of sharing and to limit marketing offers, you may do so by:
 
  •   Calling us at (800) 847-2424
Monday-Friday between 8 a.m. and 8 p.m. (ET)
 
 
  •   Writing to us at the following address:
Van Kampen Privacy Department
Harborside Financial Center, Plaza Two, 3rd Floor
Jersey City, NJ 07311
 
 
If you choose to write to us, your written request should include your name, address, telephone number and account number(s) to which the opt-out applies and should not be sent with any other correspondence. In order to process your request, we require that the request be provided by you directly and not through a third party.
 
If you have previously notified us about your privacy preferences, it is not necessary to do so again unless you decide to change your preferences. Your opt-out preference will remain in effect with respect to this Policy (as it may be amended) until you notify us otherwise in writing. If you have a joint account, your direction for us not to share this information with other affiliated companies and for those affiliated companies not to use your personal information for marketing will be applied to all account holders on that account.
 
Please understand that if you opt-out, you and any joint account holders may not receive information about affiliated company products and services that could help you manage your financial resources and achieve your investment objectives.
 
If you hold more than one account with Van Kampen, you may receive multiple privacy policies from us, and would need to follow the directions stated in each particular policy for each account you have with us.
 
SPECIAL NOTICE TO RESIDENTS OF VERMONT
 
This section supplements our Policy with respect to our individual clients who have a Vermont address and supersedes anything to the contrary in the above Policy with respect to those clients only.
 
The State of Vermont requires financial institutions to obtain your consent prior to sharing personal information that they collect about you with affiliated companies and nonaffiliated third parties other than in certain limited circumstances. Except as permitted by law, we will not share personal information we collect about you with nonaffiliated third parties or other affiliated companies unless you provide us with your written consent to share such information (“opt-in”).
 
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Van Kampen Trust for Investment Grade Municipals
An Important Notice Concerning Our
U.S. Privacy Policy  continued
 
If you wish to receive offers for investment products and services offered by or through other affiliated companies, please notify us in writing at the following address:
 
      Van Kampen Privacy Department
Harborside Financial Center, Plaza Two, 3rd Floor
Jersey City, NJ 07311
 
 
Your authorization should include your name, address, telephone number and account number(s) to which the opt-in applies and should not be sent with any other correspondence. In order to process your authorization, we require that the authorization be provided by you directly and not through a third-party.
 
 
Van Kampen Funds Inc.
522 Fifth Avenue
New York, New York 10036
www.vankampen.com
 
Copyright ©2009 Van Kampen Funds Inc.
All rights reserved. Member FINRA/SIPC
 
VGMSAN 6/09
IU09-02571P-Y04/09
(VAN KAMPEN INVESTMENTS LOGO)
 


 

Item 2. Code of Ethics.
Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semi-annual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semi-annual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable for semi-annual reports.
Item 6. Schedule of Investments.
(a) Please refer to Item #1.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable for semi-annual reports.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable for semi-annual reports.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

                                 
                    Total Number of        
                    Shares Purchased     Maximum Number  
                    as     of Shares that may  
                    Part of Publicly     yet be Purchased  
    Total Number of     Average Price     Announced Plans     Under the Plans or  
Period   Shares Purchased     Paid per Share     or Programs     Programs  
 
November
    9,800       9.47       9,800       767,781  
December
                          767,781  
January
                          767,781  
February
                          767,781  
March
                          767,781  
April
                          767,781  
The Trust expects to continue to repurchase its outstanding shares at such time and in such amounts as it believes will further the accomplishment of the foregoing objectives, subject to review by the Board of Trustees.

 


 

Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11. Controls and Procedures
(a) The Trust’s principal executive officer and principal financial officer have concluded that the Trust’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust in this Form N-CSRS was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.
(b) There were no changes 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.
Item 12. Exhibits.
(1) Code of Ethics — Not applicable for semi-annual reports.
(2)(a) A certification for the Principal Executive Officer of the registrant is attached hereto as part of EX-99.CERT.
(2)(b) A certification for the Principal Financial Officer of the registrant is attached hereto as part of EX-99.CERT.

 


 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Van Kampen Trust For Investment Grade Municipals
By: /s/ Edward C. Wood III
Name: Edward C. Wood III
Title: Principal Executive Officer
Date: June 23, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: /s/ Edward C. Wood III
Name: Edward C. Wood III
Title: Principal Executive Officer
Date: June 23, 2009
By: /s/ Stuart N. Schuldt
Name: Stuart N. Schuldt
Title: Principal Financial Officer
Date: June 23, 2009