Investment Company Act file number 811-6384
Nuveen Texas Quality Income Municipal Fund
(Exact name of
registrant as specified in charter)
Nuveen
Investments
333 West
Wacker Drive, Chicago, Illinois 60606
(Address of
principal executive offices) (Zip code)
Kevin
J. McCarthy Vice President and
Secretary
333 West Wacker
Drive, Chicago, Illinois 60606
(Name and address of
agent for service)
Registrant's telephone number, including area code: 312-917-7700
Date of fiscal year end: 7/31
Date of reporting period: 10/31/08
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
| Portfolio of Investments (Unaudited) | ||||||||
| Nuveen Texas Quality Income Municipal Fund (NTX) | ||||||||
| October 31, 2008 | ||||||||
| Principal | Optional Call | |||||||
| Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
|
| ||||||||
| Consumer Staples – 1.6% (1.1% of Total Investments) | ||||||||
| $ 2,500 | Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, | 5/12 at 100.00 | BBB | $ | 1,885,375 | |||
| Series 2002, 5.375%, 5/15/33 | ||||||||
|
| ||||||||
| Education and Civic Organizations – 16.5% (11.2% of Total Investments) | ||||||||
| 1,000 | Central Texas Higher Education Authority Inc., Texas, Student Loan Revenue Bonds, Auction | 3/09 at 100.00 | A2 | 974,434 | ||||
| Rate Coupon, 6.108%, 12/01/37 (4) | ||||||||
| Red River Education Finance Corporation, Texas, Revenue Bonds, Hockaday School, Series 2005: | ||||||||
| 1,170 | 5.000%, 5/15/27 | 5/15 at 100.00 | AA | 1,098,630 | ||||
| 1,230 | 5.000%, 5/15/28 | 5/15 at 100.00 | AA | 1,144,355 | ||||
| 1,290 | 5.000%, 5/15/29 | 5/15 at 100.00 | AA | 1,185,884 | ||||
| Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, | ||||||||
| Series 2003: | ||||||||
| 1,710 | 5.000%, 5/01/18 – FGIC Insured | 5/13 at 100.00 | Ba3 | 1,544,250 | ||||
| 1,795 | 5.000%, 5/01/19 – FGIC Insured | 5/13 at 100.00 | Ba3 | 1,589,508 | ||||
| 1,885 | 5.000%, 5/01/20 – FGIC Insured | 5/13 at 100.00 | Ba3 | 1,629,507 | ||||
| 1,665 | Texas State University System, Financing Revenue Bonds, Series 2004, 5.000%, 3/15/24 – | 9/14 at 100.00 | AAA | 1,636,862 | ||||
| FSA Insured | ||||||||
| 2,000 | Texas State University System, Financing Revenue Refunding Bonds, Series 2002, 5.000%, | 3/12 at 100.00 | AAA | 2,007,520 | ||||
| 3/15/20 – FSA Insured | ||||||||
| 2,330 | Universal City Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist | 3/11 at 102.00 | A– | 2,224,358 | ||||
| University Project, Series 2001, 5.625%, 3/01/26 | ||||||||
| 5,000 | University of North Texas, Financing System Revenue Bonds, Series 2001, 5.000%, 4/15/24 – FSA | 4/12 at 100.00 | AAA | 4,812,299 | ||||
| Insured | ||||||||
|
| ||||||||
| 21,075 | Total Education and Civic Organizations | 19,847,607 | ||||||
|
| ||||||||
| Energy – 1.6% (1.1% of Total Investments) | ||||||||
| 3,000 | Gulf Coast Waste Disposal Authority, Texas, Waste Disposal Revenue Bonds, Valero Energy | 4/09 at 101.00 | BBB | 1,918,140 | ||||
| Corporation Project, Series 1998, 5.600%, 4/01/32 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| Health Care – 15.5% (10.5% of Total Investments) | ||||||||
| 3,500 | Abilene Health Facilities Development Corporation, Texas, Hospital Revenue Refunding and | 3/09 at 100.00 | AA | 3,156,615 | ||||
| Improvement Bonds, Hendrick Medical Center Project, Series 1995C, 6.150%, 9/01/25 – | ||||||||
| MBIA Insured | ||||||||
| Brazoria County Health Facilities Development Corporation, Texas, Revenue Bonds, Brazosport | ||||||||
| Memorial Hospital, Series 2004: | ||||||||
| 1,745 | 5.250%, 7/01/20 – RAAI Insured | 7/14 at 100.00 | A3 | 1,494,715 | ||||
| 1,835 | 5.250%, 7/01/21 – RAAI Insured | 7/14 at 100.00 | A3 | 1,546,116 | ||||
| 4,140 | Midland County Hospital District, Texas, Hospital Revenue Bonds, Series 1992, 0.000%, 6/01/11 | No Opt. Call | BBB | 3,552,658 | ||||
| 2,000 | North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds, Baylor | 5/11 at 100.00 | Aa2 | 1,731,260 | ||||
| Healthcare System, Series 2001A, 5.125%, 5/15/29 | ||||||||
| 2,000 | Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center, | 12/13 at 100.00 | Baa2 | 1,736,080 | ||||
| Series 2004, 5.875%, 12/01/24 | ||||||||
| 2,500 | Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds, | 11/17 at 100.00 | AA– | 1,977,100 | ||||
| Tarrant County Health Resources, Series 2007B, 5.000%, 11/15/42 | ||||||||
| 2,000 | Tom Green County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, | 5/11 at 101.00 | Baa3 | 1,981,620 | ||||
| Shannon Health System Project, Series 2001, 6.750%, 5/15/21 | ||||||||
| 2,000 | Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances | 7/17 at 100.00 | BBB+ | 1,446,820 | ||||
| Hospital Regional Healthcare Center, Series 2007, 5.000%, 7/01/33 | ||||||||
|
| ||||||||
| 21,720 | Total Health Care | 18,622,984 | ||||||
|
| ||||||||
| Housing/Multifamily – 1.8% (1.2% of Total Investments) | ||||||||
| Bexar County Housing Finance Corporation, Texas, Insured Multifamily Housing Revenue Bonds, | ||||||||
| Waters at Northern Hills Apartments Project, Series 2001A: | ||||||||
| 2,000 | 6.000%, 8/01/31 – MBIA Insured | 8/11 at 102.00 | A2 | 1,571,500 | ||||
| 750 | 6.050%, 8/01/36 – MBIA Insured | 8/11 at 102.00 | A2 | 577,695 | ||||
|
| ||||||||
| 2,750 | Total Housing/Multifamily | 2,149,195 | ||||||
|
| ||||||||
| Housing/Single Family – 3.6% (2.4% of Total Investments) | ||||||||
| 1,861 | El Paso Housing Finance Corporation, Texas, GNMA Collateralized Single Family Mortgage Revenue | 4/11 at 106.75 | AAA | 1,920,837 | ||||
| Bonds, Series 2001A-3, 6.180%, 4/01/33 | ||||||||
| 40 | Galveston Property Finance Authority Inc., Texas, Single Family Mortgage Revenue Bonds, Series | 3/09 at 100.00 | Caa1 | 38,474 | ||||
| 1991A, 8.500%, 9/01/11 | ||||||||
| 2,805 | Texas Department of Housing and Community Affairs, Single Family Mortgage Bonds, Series 2002B, | 3/12 at 100.00 | AAA | 2,309,048 | ||||
| 5.550%, 9/01/33 – MBIA Insured (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 4,706 | Total Housing/Single Family | 4,268,359 | ||||||
|
| ||||||||
| Long-Term Care – 0.9% (0.6% of Total Investments) | ||||||||
| Bexar County, Texas, Health Facilities Development Corporation Revenue Bonds, Army Retirement | ||||||||
| Residence, Series 2007: | ||||||||
| 1,000 | 5.000%, 7/01/27 | 7/17 at 100.00 | BBB | 690,870 | ||||
| 600 | 5.000%, 7/01/37 | 7/17 at 100.00 | BBB | 417,816 | ||||
|
| ||||||||
| 1,600 | Total Long-Term Care | 1,108,686 | ||||||
|
| ||||||||
| Materials – 4.5% (3.0% of Total Investments) | ||||||||
| 3,000 | Cass County Industrial Development Corporation, Texas, Environmental Improvement Revenue | 3/10 at 101.00 | BBB | 2,419,470 | ||||
| Bonds, International Paper Company, Series 2000A, 6.600%, 3/15/24 (Alternative Minimum Tax) | ||||||||
| 3,000 | Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal Facility Bonds, E.I. | 4/09 at 100.00 | A | 2,999,790 | ||||
| DuPont de Nemours and Company Project, Series 1996, 6.400%, 4/01/26 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 6,000 | Total Materials | 5,419,260 | ||||||
|
| ||||||||
| Tax Obligation/General – 47.3% (32.0% of Total Investments) | ||||||||
| 1,260 | Bexar County, Texas, Combined Tax and Revenue Certificates of Obligation, Series 2004, | 6/14 at 100.00 | AA+ | 1,275,498 | ||||
| 5.000%, 6/15/19 | ||||||||
| 2,500 | Borger Independent School District, Hutchison County, Texas, General Obligation Bonds, Series | 2/16 at 100.00 | AAA | 2,307,650 | ||||
| 2006, 5.000%, 2/15/36 | ||||||||
| 1,190 | Canutillo Independent School District, El Paso County, Texas, General Obligation Bonds, Series | 8/15 at 100.00 | AAA | 1,193,582 | ||||
| 2006A, 5.000%, 8/15/22 | ||||||||
| 1,275 | Copperas Cove, Texas, Certificates of Obligation, Series 2003, 5.000%, 8/15/23 – MBIA Insured (5) | 8/12 at 100.00 | AA | 1,242,398 | ||||
| 2,305 | Corpus Christi, Texas, Combination Tax and Municipal Hotel Occupancy Tax Revenue Certificates | 9/12 at 100.00 | AAA | 2,338,169 | ||||
| of Obligation, Series 2002, 5.500%, 9/01/21 – FSA Insured | ||||||||
| 2,595 | Denton County, Texas, Permanent Improvement General Obligation Bonds, Series 2005, | 7/12 at 100.00 | AA+ | 2,562,978 | ||||
| 5.000%, 7/15/25 | ||||||||
| 1,750 | El Paso County, Texas, Certificates of Obligation, Series 2001, 5.000%, 2/15/21 – FSA Insured | No Opt. Call | AAA | 1,780,135 | ||||
| Fort Bend County Municipal Utility District 25, Texas, General Obligation Bonds, Series 2005: | ||||||||
| 1,330 | 5.000%, 10/01/26 – FGIC Insured | 10/12 at 100.00 | AA | 1,240,411 | ||||
| 1,320 | 5.000%, 10/01/27 – FGIC Insured | 10/12 at 100.00 | AA | 1,223,904 | ||||
| 3,615 | Frisco, Texas, General Obligation Bonds, Series 2006, 5.000%, 2/15/26 – FGIC Insured | 2/16 at 100.00 | AA | 3,500,874 | ||||
| Houston Community College, Texas, Limited Tax General Obligation Bonds, Series 2003: | ||||||||
| 2,500 | 5.000%, 2/15/20 – AMBAC Insured | 2/13 at 100.00 | AA | 2,493,400 | ||||
| 2,235 | 5.000%, 2/15/21 – AMBAC Insured | 2/13 at 100.00 | AA | 2,200,581 | ||||
| 5,000 | Houston, Texas, General Obligation Bonds, Series 2005E, 5.000%, 3/01/23 – AMBAC Insured | 3/15 at 100.00 | AA | 4,944,249 | ||||
| 100 | Judson Independent School District, Bexar County, Texas, General Obligation Refunding Bonds, | 2/11 at 100.00 | Aaa | 100,789 | ||||
| Series 2002, 5.250%, 2/01/21 | ||||||||
| 4,900 | Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation | 8/14 at 17.78 | AAA | 464,814 | ||||
| Bonds, Series 2006, 0.000%, 8/15/45 | ||||||||
| 5,220 | Leander Independent School District, Williamson and Travis Counties, Texas, Unlimited Tax | 8/09 at 46.74 | AAA | 2,370,402 | ||||
| School Building and Refunding Bonds, Series 2000, 0.000%, 8/15/21 | ||||||||
| 1,000 | Mansfield Independent School District, Tarrant County, Texas, General Obligation Bonds, Series | 2/14 at 100.00 | AAA | 1,012,710 | ||||
| 2004, 5.000%, 2/15/20 | ||||||||
| 1,010 | Mercedes Independent School District, Hidalgo County, Texas, General Obligation Bonds, Series | 8/15 at 100.00 | AAA | 1,009,919 | ||||
| 2005, 5.000%, 8/15/23 | ||||||||
| 5,515 | Midlothian Independent School District, Ellis County, Texas, General Obligation Bonds, Series | 2/15 at 100.00 | Aaa | 5,133,196 | ||||
| 2005, 5.000%, 2/15/34 | ||||||||
| 925 | Northside Independent School District, Bexar County, Texas, Unlimited Tax School Building and | 8/10 at 100.00 | AAA | 938,135 | ||||
| Refunding Bonds, Series 2000, 5.875%, 8/15/25 | ||||||||
| 500 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.500%, 7/01/29 | No Opt. Call | AAA | 456,770 | ||||
| Roma Independent School District, Texas, General Obligation Bonds, Series 2005: | ||||||||
| 1,110 | 5.000%, 8/15/22 | 8/15 at 100.00 | AAA | 1,113,341 | ||||
| 1,165 | 5.000%, 8/15/23 – FSA Insured | 8/15 at 100.00 | AAA | 1,164,907 | ||||
| 1,250 | Southside Independent School District, Bexar County, Texas, General Obligation Bonds, Series | 8/14 at 100.00 | Aaa | 1,253,275 | ||||
| 2004A, 5.000%, 8/15/22 | ||||||||
| 1,140 | Sunnyvale School District, Texas, General Obligation Bonds, Series 2004, 5.250%, 2/15/25 | 2/14 at 100.00 | AAA | 1,147,228 | ||||
| 5,000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2006A, | 4/17 at 100.00 | Aa1 | 4,717,299 | ||||
| 5.000%, 4/01/33 | ||||||||
| 1,000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2008, | 4/18 at 100.00 | Aa1 | 961,810 | ||||
| 5.000%, 4/01/30 | ||||||||
| 1,110 | Texas State, General Obligation Bonds, Water Utility, Series 2001, 5.250%, 8/01/23 | 8/11 at 100.00 | Aa1 | 1,116,671 | ||||
| 1,500 | Texas, General Obligation Refunding Bonds, Public Finance Authority, Series 2002, | 10/12 at 100.00 | Aa1 | 1,529,295 | ||||
| 5.000%, 10/01/18 | ||||||||
| 3,025 | Victoria Independent School District, Victoria County, Texas, General Obligation Bonds, Series | 2/17 at 100.00 | AAA | 2,861,620 | ||||
| 2007, 5.000%, 2/15/32 | ||||||||
| West Texas Independent School District, McLennan and Hill Counties, General Obligation | ||||||||
| Refunding Bonds, Series 1998: | ||||||||
| 1,000 | 0.000%, 8/15/22 | 8/13 at 61.20 | AAA | 461,330 | ||||
| 1,000 | 0.000%, 8/15/24 | 8/13 at 54.88 | AAA | 399,900 | ||||
| White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds, | ||||||||
| Series 2006: | ||||||||
| 1,500 | 0.000%, 8/15/43 | 8/15 at 23.11 | AAA | 162,270 | ||||
| 1,500 | 0.000%, 8/15/44 | 8/15 at 21.88 | AAA | 151,740 | ||||
| 425 | 0.000%, 8/15/45 | 8/15 at 20.76 | AAA | 40,226 | ||||
|
| ||||||||
| 69,770 | Total Tax Obligation/General | 56,871,476 | ||||||
|
| ||||||||
| Tax Obligation/Limited – 3.9% (2.7% of Total Investments) | ||||||||
| 3,155 | Dallas Area Rapid Transit, Texas, Senior Lien Sales Tax Revenue Bonds, Series 2007, Drivers | 12/16 at 100.00 | AAA | 2,518,195 | ||||
| 1771, 8.866%, 12/01/36 – AMBAC Insured (IF) | ||||||||
| 2,250 | Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Bonds, Series 2001G, | 11/11 at 100.00 | AA | 2,204,033 | ||||
| 5.250%, 11/15/22 – MBIA Insured | ||||||||
|
| ||||||||
| 5,405 | Total Tax Obligation/Limited | 4,722,228 | ||||||
|
| ||||||||
| Transportation – 5.9% (4.0% of Total Investments) | ||||||||
| 1,000 | Austin, Texas, Airport System Prior Lien Revenue Bonds, Series 2003, 5.250%, 11/15/16 – | 11/13 at 100.00 | AA | 1,019,910 | ||||
| MBIA Insured | ||||||||
| 3,260 | Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue | 1/15 at 100.00 | AA | 2,908,442 | ||||
| Bonds, Series 2005, 5.000%, 1/01/22 – FGIC Insured | ||||||||
| 2,600 | Dallas-Ft. Worth International Airport Facility Improvement Corporation, Texas, Revenue Bonds, | 11/09 at 101.00 | CCC+ | 1,043,458 | ||||
| American Airlines Inc., Series 1999, 6.375%, 5/01/35 (Alternative Minimum Tax) | ||||||||
| 2,000 | Houston, Texas, Subordinate Lien Airport System Revenue Bonds, Series 2000A, 5.625%, 7/01/30 – | 7/10 at 100.00 | AAA | 1,701,320 | ||||
| FSA Insured (Alternative Minimum Tax) | ||||||||
| 500 | North Texas Thruway Authority, Second Tier System Revenue Refunding Bonds, Series 2008, | 1/18 at 100.00 | A3 | 422,120 | ||||
| 5.750%, 1/01/38 | ||||||||
|
| ||||||||
| 9,360 | Total Transportation | 7,095,250 | ||||||
|
| ||||||||
| U.S. Guaranteed – 21.8% (14.7% of Total Investments) (6) | ||||||||
| 3,835 | Coppell Independent School District, Dallas County, Texas, Unlimited Tax School Building and | 8/09 at 75.34 | AA (6) | 2,824,017 | ||||
| Refunding Bonds, Series 1992, 0.000%, 8/15/14 (Pre-refunded 8/15/09) – MBIA Insured | ||||||||
| 295 | Coppell Independent School District, Dallas County, Texas, Unlimited Tax School Building and | 8/09 at 75.34 | Aa3 (6) | 218,539 | ||||
| Refunding Bonds, Series 1992, 0.000%, 8/15/14 (Pre-refunded 8/15/09) – MBIA Insured | ||||||||
| Gregg County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good | ||||||||
| Shepherd Medical Center Project, Series 2000: | ||||||||
| 2,000 | 6.875%, 10/01/20 (Pre-refunded 10/01/10) – RAAI Insured | 10/10 at 101.00 | A3 (6) | 2,185,720 | ||||
| 3,250 | 6.375%, 10/01/25 (Pre-refunded 10/01/10) – RAAI Insured | 10/10 at 101.00 | A3 (6) | 3,521,863 | ||||
| 500 | Harris County Health Facilities Development Corporation, Texas, Revenue Bonds, St. Luke’s | 8/11 at 100.00 | AAA | 534,855 | ||||
| Episcopal Hospital, Series 2001A, 5.500%, 2/15/21 (Pre-refunded 8/15/11) | ||||||||
| 1,400 | Judson Independent School District, Bexar County, Texas, General Obligation Refunding Bonds, | 2/11 at 100.00 | Aaa | 1,478,372 | ||||
| Series 2002, 5.250%, 2/01/21 (Pre-refunded 2/01/11) | ||||||||
| 1,000 | North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds, | No Opt. Call | Aaa | 1,050,540 | ||||
| Presbyterian Healthcare System, Series 1996B, 5.750%, 6/01/26 – MBIA Insured (ETM) | ||||||||
| 1,075 | Northside Independent School District, Bexar County, Texas, Unlimited Tax School Building and | 8/10 at 100.00 | AAA | 1,141,661 | ||||
| Refunding Bonds, Series 2000, 5.875%, 8/15/25 (Pre-refunded 8/15/10) | ||||||||
| 1,760 | Parker County Hospital District, Texas, Hospital Revenue Bonds, Campbell Health System, Series | 8/09 at 102.00 | BB– (6) | 1,857,310 | ||||
| 1999, 6.250%, 8/15/19 (Pre-refunded 8/15/09) | ||||||||
| 2,500 | Retama Development Corporation, Texas, Special Facilities Revenue Bonds, Retama Park | 12/17 at 100.00 | AAA | 2,977,525 | ||||
| Racetrack, Series 1993, 8.750%, 12/15/18 (Pre-refunded 12/15/17) (7) | ||||||||
| 1,750 | San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, Series 2002, 5.375%, | 2/12 at 100.00 | AAA | 1,871,258 | ||||
| 2/01/20 (Pre-refunded 2/01/12) | ||||||||
| 1,440 | South Texas Community College District, General Obligation Bonds, Series 2002, 5.500%, 8/15/17 | 8/12 at 100.00 | AA (6) | 1,564,459 | ||||
| (Pre-refunded 8/15/12) – AMBAC Insured | ||||||||
| 3,500 | Tarrant County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, | 11/10 at 101.00 | A+ (6) | 3,821,405 | ||||
| Adventist Health System – Sunbelt Obligated Group, Series 2000, 6.625%, 11/15/20 | ||||||||
| (Pre-refunded 11/15/10) | ||||||||
| 1,000 | Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances | 7/12 at 100.00 | Baa1 (6) | 1,097,370 | ||||
| Hospital Regional Healthcare Center, Series 2001, 6.000%, 7/01/31 (Pre-refunded 7/01/12) | ||||||||
|
| ||||||||
| 25,305 | Total U.S. Guaranteed | 26,144,894 | ||||||
|
| ||||||||
| Utilities – 10.9% (7.3% of Total Investments) | ||||||||
| 2,560 | Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric | 4/13 at 101.00 | Caa1 | 1,904,717 | ||||
| Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax) | ||||||||
| 2,400 | Brazos River Authority, Texas, Revenue Bonds, Reliant Energy Inc., Series 1999A, | 4/09 at 101.00 | BBB– | 1,810,152 | ||||
| 5.375%, 4/01/19 | ||||||||
| 200 | Brazos River Authority, Texas, Revenue Refunding Bonds, Houston Industries Inc., Series 1998C, | 11/08 at 102.00 | AA | 192,028 | ||||
| 5.125%, 5/01/19 – AMBAC Insured | ||||||||
| 5,000 | Brownsville, Texas, Utility System Priority Revenue Bonds, Series 2005A, 5.000%, 9/01/27 – | 9/15 at 100.00 | AA | 4,513,049 | ||||
| AMBAC Insured | ||||||||
| 2,000 | Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, | 2/10 at 100.00 | AA | 1,984,220 | ||||
| TECO Project, Series 2000, 5.750%, 2/15/15 – AMBAC Insured (Alternative Minimum Tax) | ||||||||
| 2,000 | Lower Colorado River Authority, Texas, Revenue Bonds, Series 2008, 5.750%, 5/15/37 | 5/15 at 100.00 | A1 | 1,956,060 | ||||
| 1,000 | Matagorda County Navigation District 1, Texas, Revenue Bonds, Reliant Energy Inc., Series | 5/09 at 101.00 | BBB– | 683,910 | ||||
| 1999B, 5.950%, 5/01/30 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 15,160 | Total Utilities | 13,044,136 | ||||||
|
| ||||||||
| Water and Sewer – 12.1% (8.2% of Total Investments) | ||||||||
| Coastal Water Authority, Texas, Contract Revenue Bonds, Houston Water Projects, Series 2004: | ||||||||
| 1,005 | 5.000%, 12/15/20 – FGIC Insured | 12/14 at 100.00 | AA | 945,886 | ||||
| 1,030 | 5.000%, 12/15/21 – FGIC Insured | 12/14 at 100.00 | AA | 957,818 | ||||
| 3,000 | Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%, | 5/14 at 100.00 | AA | 2,819,700 | ||||
| 5/15/23 – FGIC Insured | ||||||||
| 3,500 | Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2001A, | 12/11 at 100.00 | AAA | 3,694,740 | ||||
| 5.500%, 12/01/17 – FSA Insured | ||||||||
| Irving, Texas, Subordinate Lien Waterworks and Sewerage Revenue Bonds, Series 2004: | ||||||||
| 1,680 | 5.000%, 8/15/22 – AMBAC Insured | 8/14 at 100.00 | AA | 1,663,049 | ||||
| 1,760 | 5.000%, 8/15/23 – AMBAC Insured | 8/14 at 100.00 | AA | 1,732,773 | ||||
| 1,260 | Rowlett, Rockwall and Dallas Counties, Texas, Waterworks and Sewerage System Revenue Bonds, | 3/14 at 100.00 | AA | 1,233,515 | ||||
| Series 2004A, 5.000%, 3/01/22 – MBIA Insured | ||||||||
| 1,500 | Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 1999A, | 7/09 at 100.00 | AAA | 1,517,490 | ||||
| 5.500%, 7/15/21 | ||||||||
|
| ||||||||
| 14,735 | Total Water and Sewer | 14,564,971 | ||||||
|
| ||||||||
| $ 203,086 | Total Investments (cost $192,731,680) – 147.9% | 177,662,561 | ||||||
|
|
| |||||||
| Other Assets Less Liabilities – 9.5% | 11,464,242 | |||||||
|
| ||||||||
| Preferred Shares, at Liquidation Value – (57.4)% (8) | (69,000,000) | |||||||
|
| ||||||||
| Net Assets Applicable to Common Shares – 100% | $ | 120,126,803 | ||||||
|
| ||||||||
| (1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to Common | |
| shares unless otherwise noted. | ||
| (2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. | |
| There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities | ||
| may be subject to periodic principal paydowns. | ||
| (3) | Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, | |
| Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be | ||
| below investment grade. | ||
| The Portfolio of Investments may reflect the ratings on certain bonds insured by ACA, AGC, AMBAC, CIFG, | ||
| FGIC, FSA, MBIA, RAAI and SYNCORA as of October 31, 2008. Subsequent of October 31, 2008, and during | ||
| the period this Portfolio of Investments was prepared, there may have been reductions to the ratings of | ||
| certain bonds resulting from changes to the ratings of the underlying insurers both during the period and | ||
| after period end. Such reductions would likely reduce the effective rating of many of the bonds insured | ||
| by the insurer or insurers presented at period end. | ||
| (4) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the | |
| Board of Trustees. | ||
| (5) | Portion of investment has been pledged to collateralize the net payment obligations under futures contracts | |
| entered into by the Fund during the period. | ||
| (6) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities | |
| which ensure the timely payment of principal and interest. Such investments are normally considered to | ||
| be equivalent to AAA rated securities. | ||
| (7) | The issuer has received a formal adverse determination from the Internal Revenue Service (the “IRS”) | |
| regarding the tax-exempt status of the bonds’ coupon payments. The Fund will continue to treat | ||
| coupon payments as tax-exempt income until such time it is formally determined that the interest on the | ||
| bonds should be treated as taxable. | ||
| (8) | Preferred Shares, at Liquidation Value as a percentage of Total Investments is 38.8%. | |
| (ETM) | Escrowed to maturity. | |
| (IF) | Inverse floating rate investment. |
Fair Value Measurements
During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No.157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Fund’s investments various inputs are used. These inputs are summarized in the three broad levels listed below:
| Level 1 – Quoted prices in active markets for identical securities. |
| Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, |
| prepayment speeds, credit risk, etc.). |
| Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair |
| value of investments). |
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
The following is a summary of the Fund’s fair value measurements as of October 31, 2008:
| Level 1 | Level 2 | Level 3 | Total | |||||
|
| ||||||||
| Investments | $ — | $176,688,127 | $974,434 | $177,662,561 | ||||
|
| ||||||||
The following is a reconciliation of the Fund’s Level 3 investments held at the beginning and end of the measurement period:
| Level 3 | ||
| Investments | ||
|
| ||
| Balance as of July 31, 2008 | $544,376 | |
| Gains (losses): | ||
| Net realized gains (losses) | — | |
| Net change in unrealized appreciation (depreciation) | 430,058 | |
| Net purchases at cost (sales at proceeds) | — | |
| Net discounts (premiums) | — | |
| Net transfers in to (out of) at end of period fair value | — | |
|
| ||
| Balance as of October 31, 2008 | $974,434 | |
|
| ||
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No. 140. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At October 31, 2008, the cost of investments was $192,704,489.
Gross unrealized appreciation and gross unrealized depreciation of investments at October 31, 2008, were as follows:
|
| ||
| Gross unrealized: | ||
| Appreciation | $ 2,249,627 | |
| Depreciation | (17,291,555) | |
|
| ||
| Net unrealized appreciation (depreciation) of investments | $(15,041,928) | |
|
| ||
Item 2. Controls and Procedures.
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
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) Nuveen Texas Quality Income Municipal Fund
By (Signature and Title)
/s/ Kevin J.
McCarthy
Kevin
J.
McCarthy
Vice President and Secretary
Date December 30, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)
/s/ Gifford R.
Zimmerman
Gifford R.
Zimmerman
Chief Administrative Officer (principal executive officer)
Date December 30, 2008
By (Signature and Title)
/s/ Stephen D.
Foy
Stephen
D.
Foy
Vice President and Controller (principal financial officer)
Date December 30, 2008