Investment Company Act file number 811-7606
Nuveen Connecticut Premium 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: 5/31
Date of reporting period: 2/28/09
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 Connecticut Premium Income Municipal Fund (NTC) | ||||||||
February 28, 2009 | ||||||||
Principal | Optional Call | |||||||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
| ||||||||
Consumer Staples 1.5% (0.9% of Total Investments) | ||||||||
$ 1,430 | Puerto Rico, The Childrens Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, | 5/12 at 100.00 | BBB | $ | 1,024,910 | |||
Series 2002, 5.375%, 5/15/33 | ||||||||
| ||||||||
Education and Civic Organizations 39.0% (25.3% of Total Investments) | ||||||||
1,595 | Connecticut Health and Education Facilities Authority, Revenue Bonds, Quinnipiac University, | 7/17 at 100.00 | AA | 1,611,157 | ||||
Series 2007-I, 5.000%, 7/01/25 MBIA Insured | ||||||||
1,050 | Connecticut Health and Education Facilities Authority, University of Hartford Revenue Bonds, | 7/16 at 100.00 | A3 | 815,357 | ||||
Series 2006G, 5.250%, 7/01/36 RAAI Insured | ||||||||
925 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Brunswick School, | 7/13 at 100.00 | AA | 858,604 | ||||
Series 2003B, 5.000%, 7/01/33 MBIA Insured | ||||||||
200 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, | 7/16 at 100.00 | BBB+ | 149,318 | ||||
Series 2006B, 5.000%, 7/01/36 RAAI Insured | ||||||||
305 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate | 7/17 at 100.00 | A3 | 246,135 | ||||
School, Series 2007A, 5.000%, 7/01/27 RAAI Insured | ||||||||
725 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, | 7/09 at 101.00 | AA | 728,603 | ||||
Series 1998H, 5.000%, 7/01/23 MBIA Insured | ||||||||
750 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Horace Bushnell | 7/09 at 101.00 | Baa1 | 743,213 | ||||
Memorial Hall, Series 1999A, 5.625%, 7/01/29 MBIA Insured | ||||||||
800 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, | No Opt. Call | A2 | 873,360 | ||||
Series 2005F, 5.250%, 7/01/19 AMBAC Insured | ||||||||
270 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School, | 7/17 at 100.00 | A | 246,383 | ||||
Series 2007A, 5.000%, 7/01/37 AMBAC Insured | ||||||||
1,375 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, | 7/14 at 100.00 | AA | 1,439,158 | ||||
Series 2004H, 5.000%, 7/01/21 MBIA Insured | ||||||||
2,000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of | 7/12 at 101.00 | A3 | 1,593,360 | ||||
Hartford, Series 2002E, 5.250%, 7/01/32 RAAI Insured | ||||||||
1,500 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, | 7/09 at 100.00 | AAA | 1,503,660 | ||||
Series 2002W, 5.125%, 7/01/27 | ||||||||
1,500 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, | 7/13 at 100.00 | AAA | 1,510,965 | ||||
Series 2003X-1, 5.000%, 7/01/42 | ||||||||
3,550 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, | 7/16 at 100.00 | AAA | 3,591,108 | ||||
Series 2007Z-1, 5.000%, 7/01/42 | ||||||||
6,150 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, | 7/17 at 100.00 | AAA | 6,250,061 | ||||
Series 2007Z-3, 5.050%, 7/01/42 (UB) | ||||||||
260 | Connecticut Higher Education Supplemental Loan Authority, Revenue Bonds, Family Education Loan | 11/09 at 102.00 | Aa3 | 262,764 | ||||
Program, Series 1999A, 6.000%, 11/15/18 AMBAC Insured (Alternative Minimum Tax) | ||||||||
635 | Connecticut Higher Education Supplemental Loan Authority, Revenue Bonds, Family Education Loan | 11/11 at 100.00 | Aa3 | 619,900 | ||||
Program, Series 2001A, 5.250%, 11/15/18 MBIA Insured (Alternative Minimum Tax) | ||||||||
1,000 | University of Connecticut, General Obligation Bonds, Series 2004A, 5.000%, 1/15/18 | 1/14 at 100.00 | AA | 1,073,730 | ||||
MBIA Insured | ||||||||
1,220 | University of Connecticut, General Obligation Bonds, Series 2005A, 5.000%, 2/15/17 | 2/15 at 100.00 | AAA | 1,353,932 | ||||
FSA Insured | ||||||||
685 | University of Connecticut, General Obligation Bonds, Series 2006A, 5.000%, 2/15/23 | 2/16 at 100.00 | AA | 723,127 | ||||
FGIC Insured | ||||||||
1,000 | University of Connecticut, Student Fee Revenue Refunding Bonds, Series 2002A, 5.250%, | 11/12 at 101.00 | AA | 1,084,540 | ||||
11/15/19 FGIC Insured | ||||||||
| ||||||||
27,495 | Total Education and Civic Organizations | 27,278,435 | ||||||
| ||||||||
Health Care 15.4% (10.0% of Total Investments) | ||||||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, | ||||||||
Series 2002B: | ||||||||
500 | 5.500%, 7/01/21 RAAI Insured | 7/12 at 101.00 | BBB+ | 455,775 | ||||
700 | 5.500%, 7/01/32 RAAI Insured | 7/12 at 101.00 | BBB+ | 560,686 | ||||
645 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut | 7/10 at 101.00 | BBB+ | 562,588 | ||||
Health Network, Series 2000A, 6.000%, 7/01/25 RAAI Insured | ||||||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, | ||||||||
Series 2005B: | ||||||||
800 | 5.000%, 7/01/20 RAAI Insured | 7/15 at 100.00 | A3 | 711,456 | ||||
500 | 5.000%, 7/01/23 RAAI Insured | 7/15 at 100.00 | A3 | 423,820 | ||||
385 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special | 7/17 at 100.00 | A3 | 277,135 | ||||
Care, Series 2007C, 5.250%, 7/01/32 RAAI Insured | ||||||||
2,620 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, | 7/16 at 100.00 | Aa3 | 2,448,756 | ||||
Series 2006, 5.000%, 7/01/32 FSA Insured | ||||||||
2,000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, | 7/09 at 101.00 | Baa1 | 1,658,480 | ||||
Series 1999G, 5.000%, 7/01/24 MBIA Insured | ||||||||
1,395 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven | 7/16 at 100.00 | A1 | 1,257,718 | ||||
Hospital, Series 2006J-1, 5.000%, 7/01/31 AMBAC Insured | ||||||||
3,000 | Connecticut Health and Educational Facilities Authority, Revenue Refunding Bonds, Middlesex | 7/09 at 100.00 | A3 | 2,415,659 | ||||
Health Services, Series 1997H, 5.125%, 7/01/27 MBIA Insured | ||||||||
| ||||||||
12,545 | Total Health Care | 10,772,073 | ||||||
| ||||||||
Housing/Multifamily 2.7% (1.8% of Total Investments) | ||||||||
1,000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 1999D-2, | 12/09 at 100.00 | AAA | 1,001,690 | ||||
6.200%, 11/15/41 (Alternative Minimum Tax) | ||||||||
1,000 | Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds, | 11/15 at 100.00 | AAA | 891,040 | ||||
Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax) | ||||||||
| ||||||||
2,000 | Total Housing/Multifamily | 1,892,730 | ||||||
| ||||||||
Housing/Single Family 7.6% (5.0% of Total Investments) | ||||||||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2001C: | ||||||||
1,000 | 5.300%, 11/15/33 (Alternative Minimum Tax) | 11/10 at 100.00 | AAA | 916,310 | ||||
500 | 5.450%, 11/15/43 (Alternative Minimum Tax) | 11/10 at 100.00 | AAA | 458,645 | ||||
1,675 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5, | 5/13 at 100.00 | AAA | 1,605,102 | ||||
5.050%, 11/15/34 | ||||||||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006-A1: | ||||||||
205 | 4.700%, 11/15/26 (Alternative Minimum Tax) | 11/15 at 100.00 | AAA | 182,348 | ||||
220 | 4.800%, 11/15/31 (Alternative Minimum Tax) | 11/15 at 100.00 | AAA | 188,441 | ||||
2,100 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D, | 5/16 at 100.00 | AAA | 1,982,400 | ||||
4.650%, 11/15/27 | ||||||||
| ||||||||
5,700 | Total Housing/Single Family | 5,333,246 | ||||||
| ||||||||
Industrials 2.2% (1.4% of Total Investments) | ||||||||
1,750 | Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of | 12/11 at 102.00 | Ba1 | 1,557,115 | ||||
Southeastern Connecticut LP, Series 1998A-I, 5.500%, 11/15/15 (Alternative Minimum Tax) | ||||||||
| ||||||||
Long-Term Care 6.0% (3.9% of Total Investments) | ||||||||
615 | Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, | 4/09 at 100.00 | BBB | 601,445 | ||||
Church Homes Inc. Congregational Avery Heights, Series 1997, 5.700%, 4/01/12 | ||||||||
615 | Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, | 9/09 at 102.00 | BBB+ | 588,666 | ||||
Connecticut Baptist Homes Inc., Series 1999, 5.500%, 9/01/15 RAAI Insured | ||||||||
Connecticut Development Authority, Revenue Refunding Bonds, Duncaster Inc., Series 1999A: | ||||||||
1,000 | 5.250%, 8/01/19 RAAI Insured | 2/10 at 102.00 | BBB+ | 928,150 | ||||
1,000 | 5.375%, 8/01/24 RAAI Insured | 2/10 at 102.00 | BBB+ | 879,420 | ||||
1,300 | Connecticut Health and Educational Facilities Authority, FHA-Insured Mortgage Revenue Bonds, | 8/09 at 101.00 | AA | 1,197,313 | ||||
Hebrew Home and Hospital, Series 1999B, 5.200%, 8/01/38 | ||||||||
| ||||||||
4,530 | Total Long-Term Care | 4,194,994 | ||||||
| ||||||||
Tax Obligation/General 24.1% (15.7% of Total Investments) | ||||||||
750 | Bridgeport, Connecticut, General Obligation Refunding Bonds, Series 2002A, 5.375%, 8/15/19 | 8/12 at 100.00 | Baa1 | 730,905 | ||||
FGIC Insured | ||||||||
760 | Capitol Region Education Council, Connecticut, Revenue Bonds, Series 1995, 6.700%, 10/15/10 | 4/09 at 100.00 | BBB | 761,398 | ||||
1,110 | Connecticut State, General Obligation Bonds, Series 2004C, 5.000%, 4/01/23 FGIC Insured | 4/14 at 100.00 | AA | 1,160,294 | ||||
2,000 | Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24 | 12/16 at 100.00 | AA | 2,083,220 | ||||
1,300 | Connecticut State, General Obligation Bonds, Series 2006C, 5.000%, 6/01/23 FSA Insured | 6/16 at 100.00 | AAA | 1,381,822 | ||||
Hartford, Connecticut, General Obligation Bonds, Series 2005A: | ||||||||
775 | 5.000%, 8/01/20 FSA Insured | 8/15 at 100.00 | AAA | 829,266 | ||||
525 | 4.375%, 8/01/24 FSA Insured | 8/15 at 100.00 | AAA | 510,227 | ||||
500 | New Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 11/01/17 AMBAC Insured | 11/16 at 100.00 | A | 545,865 | ||||
500 | North Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 7/15/24 | No Opt. Call | Aa2 | 545,860 | ||||
1,860 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.500%, 7/01/20 | No Opt. Call | AA | 1,754,891 | ||||
MBIA Insured | ||||||||
Regional School District 16, Beacon Falls and Prospect, Connecticut, General Obligation Bonds, | ||||||||
Series 2000: | ||||||||
350 | 5.500%, 3/15/18 FSA Insured | 3/10 at 101.00 | Aa3 | 367,227 | ||||
350 | 5.625%, 3/15/19 FSA Insured | 3/10 at 101.00 | Aa3 | 367,868 | ||||
350 | 5.700%, 3/15/20 FSA Insured | 3/10 at 101.00 | Aa3 | 368,368 | ||||
1,420 | Regional School District 16, Connecticut, General Obligation Bonds, Series 2003, 5.000%, | 3/13 at 101.00 | A3 | 1,566,430 | ||||
3/15/16 AMBAC Insured | ||||||||
Suffield, Connecticut, General Obligation Bonds, Series 2005: | ||||||||
465 | 5.000%, 6/15/17 | No Opt. Call | AA | 540,130 | ||||
460 | 5.000%, 6/15/19 | No Opt. Call | AA | 531,663 | ||||
1,000 | 5.000%, 6/15/21 | No Opt. Call | AA | 1,133,620 | ||||
1,500 | West Hartford, Connecticut, General Obligation Bonds, Series 2005B, 5.000%, 10/01/18 | 10/15 at 100.00 | AAA | 1,676,055 | ||||
| ||||||||
15,975 | Total Tax Obligation/General | 16,855,109 | ||||||
| ||||||||
Tax Obligation/Limited 22.1% (14.3% of Total Investments) | ||||||||
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue | ||||||||
Bonds, Series 2006F: | ||||||||
1,300 | 5.000%, 7/01/31 AGC Insured | 7/16 at 100.00 | AAA | 1,229,670 | ||||
1,000 | 5.000%, 7/01/36 AGC Insured | 7/16 at 100.00 | AAA | 929,640 | ||||
1,945 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Child Care Facilities | 7/09 at 102.00 | A | 1,927,398 | ||||
Program, Series 1999C, 5.625%, 7/01/29 AMBAC Insured | ||||||||
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2002B: | ||||||||
2,000 | 5.000%, 12/01/20 AMBAC Insured | 12/12 at 100.00 | AA | 2,064,840 | ||||
1,000 | 5.000%, 12/01/21 AMBAC Insured | 12/12 at 100.00 | AA | 1,030,310 | ||||
500 | Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2003B, | 1/14 at 100.00 | AA | 514,910 | ||||
5.000%, 1/01/23 FGIC Insured | ||||||||
1,750 | Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds, | 8/17 at 100.00 | AA | 1,773,958 | ||||
Series 2007A, 5.000%, 8/01/27 AMBAC Insured | ||||||||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A: | ||||||||
960 | 0.000%, 7/01/32 FGIC Insured | No Opt. Call | BBB+ | 159,446 | ||||
2,615 | 0.000%, 7/01/33 FGIC Insured | No Opt. Call | BBB+ | 400,958 | ||||
2,000 | Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21 FSA Insured | 8/12 at 100.00 | AAA | 1,975,860 | ||||
2,400 | Puerto Rico Municipal Finance Agency, Series 2005C, 5.000%, 8/01/16 FSA Insured | 8/15 at 100.00 | AAA | 2,400,311 | ||||
1,000 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.250%, | 10/14 at 100.00 | AAA | 1,037,440 | ||||
10/01/19 FSA Insured | ||||||||
| ||||||||
18,470 | Total Tax Obligation/Limited | 15,444,741 | ||||||
| ||||||||
Transportation 1.0% (0.6% of Total Investments) | ||||||||
750 | Connecticut, General Airport Revenue Bonds, Bradley International Airport, Series 2001A, | 4/11 at 101.00 | AA | 662,130 | ||||
5.125%, 10/01/26 FGIC Insured (Alternative Minimum Tax) | ||||||||
| ||||||||
U.S. Guaranteed 13.8% (9.0% of Total Investments) (4) | ||||||||
50 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut | 7/10 at 101.00 | BBB+ (4) | 53,827 | ||||
Health Network, Series 2000A, 6.000%, 7/01/25 (Pre-refunded 7/01/10) RAAI Insured | ||||||||
650 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, | 7/11 at 101.00 | N/R (4) | 716,021 | ||||
Series 2001D, 5.500%, 7/01/23 (Pre-refunded 7/01/11) | ||||||||
40 | Connecticut, General Obligation Bonds, Series 1993E, 6.000%, 3/15/12 (ETM) | No Opt. Call | AA (4) | 45,291 | ||||
1,500 | Connecticut, General Obligation Bonds, Series 2002B, 5.500%, 6/15/21 (Pre-refunded 6/15/12) | 6/12 at 100.00 | AA (4) | 1,688,820 | ||||
600 | Guam Economic Development Authority, Tobacco Settlement Asset-Backed Bonds, Series 2001B, | 5/11 at 100.00 | Baa3 (4) | 653,508 | ||||
5.500%, 5/15/41 (Pre-refunded 5/15/11) | ||||||||
1,000 | Hartford, Connecticut, Parking System Revenue Bonds, Series 2000A, 6.400%, 7/01/20 | 7/10 at 100.00 | Baa2 (4) | 1,071,430 | ||||
(Pre-refunded 7/01/10) | ||||||||
400 | Northern Mariana Islands, General Obligation Bonds, Series 2000A, 6.000%, 6/01/20 | 6/10 at 100.00 | AAA | 425,836 | ||||
(Pre-refunded 6/01/10) ACA Insured | ||||||||
1,000 | Puerto Rico Infrastructure Financing Authority, Special Obligation Bonds, Series 2000A, | 10/10 at 101.00 | AAA | 1,064,980 | ||||
5.500%, 10/01/40 | ||||||||
485 | Puerto Rico, The Childrens Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2000, | 7/10 at 100.00 | AAA | 507,232 | ||||
5.750%, 7/01/20 (Pre-refunded 7/01/10) | ||||||||
1,100 | University of Connecticut, General Obligation Bonds, Series 2003A, 5.125%, 2/15/21 | 2/13 at 100.00 | AA (4) | 1,240,756 | ||||
(Pre-refunded 2/15/13) MBIA Insured | ||||||||
1,000 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 1999A, 6.500%, | 10/10 at 101.00 | BBB+ (4) | 1,095,520 | ||||
10/01/24 (Pre-refunded 10/01/10) | ||||||||
1,000 | Waterbury, Connecticut, General Obligation Bonds, Series 2002A, 5.375%, 4/01/17 (Pre-refunded | 4/12 at 100.00 | AAA | 1,115,280 | ||||
4/01/12) FSA Insured | ||||||||
| ||||||||
8,825 | Total U.S. Guaranteed | 9,678,501 | ||||||
| ||||||||
Utilities 6.4% (4.2% of Total Investments) | ||||||||
1,150 | Bristol Resource Recovery Facility Operating Committee, Connecticut, Solid Waste Revenue | No Opt. Call | A+ | 1,253,052 | ||||
Bonds, Covanta Bristol Inc., Series 2005, 5.000%, 7/01/12 AMBAC Insured | ||||||||
1,000 | Connecticut Development Authority, Pollution Control Revenue Refunding Bonds, Connecticut | 4/09 at 102.00 | Baa1 | 960,690 | ||||
Light and Power Company, Series 1993A, 5.850%, 9/01/28 | ||||||||
1,070 | Connecticut Development Authority, Solid Waste Disposal Facilities Revenue Bonds, PSEG Power | 11/12 at 100.00 | Baa1 | 829,432 | ||||
LLC Project, Series 2007A, 5.750%, 11/01/37 (Alternative Minimum Tax) | ||||||||
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator | ||||||||
Lisbon Project, Series 1993A: | ||||||||
310 | 5.500%, 1/01/14 (Alternative Minimum Tax) | 7/09 at 100.00 | BBB | 290,836 | ||||
1,290 | 5.500%, 1/01/20 (Alternative Minimum Tax) | 7/09 at 100.00 | BBB | 1,137,806 | ||||
| ||||||||
4,820 | Total Utilities | 4,471,816 | ||||||
| ||||||||
Water and Sewer 12.1% (7.9% of Total Investments) | ||||||||
500 | Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company | 9/17 at 100.00 | N/R | 375,985 | ||||
Project, Series 200.7, 5.100%, 9/01/37 SYNCORA GTY Insured (Alternative Minimum Tax) | ||||||||
1,185 | Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16 | 10/13 at 100.00 | AAA | 1,296,094 | ||||
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System | ||||||||
Revenue Bonds, Series 2005A: | ||||||||
1,520 | 5.000%, 11/15/30 MBIA Insured | 11/15 at 100.00 | AA | 1,459,580 | ||||
2,260 | 5.000%, 8/15/35 MBIA Insured | 11/15 at 100.00 | AA | 2,148,650 | ||||
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth | ||||||||
Series 2003A: | ||||||||
1,000 | 5.000%, 8/01/20 MBIA Insured | 8/13 at 100.00 | AA | 1,040,060 | ||||
1,075 | 5.000%, 8/01/33 MBIA Insured | 8/13 at 100.00 | AA | 1,042,513 | ||||
1,100 | Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series | 11/13 at 100.00 | AA+ | 1,095,380 | ||||
2003A, 5.000%, 11/15/32 | ||||||||
| ||||||||
8,640 | Total Water and Sewer | 8,458,262 | ||||||
| ||||||||
$ 112,930 | Total Investments (cost $112,423,462) 153.9% | 107,624,062 | ||||||
|
| |||||||
Floating Rate Obligations (4.4)% | (3,075,000) | |||||||
| ||||||||
Other Assets Less Liabilities 5.3% | 3,661,501 | |||||||
| ||||||||
Preferred Shares, at Liquidation Value (54.8)% (5) | (38,300,000) | |||||||
| ||||||||
Net Assets Applicable to Common Shares 100% | $ | 69,910,563 | ||||||
|
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 Funds 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 managements 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 Funds fair value measurements as of February 28, 2009:
Level 1 | Level 2 | Level 3 | Total | |||||
| ||||||||
Investments | $ | $107,624,062 | $ | $107,624,062 | ||||
|
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 Statement of Financial Accounting Standards No. 140 (SFAS No. 140), if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At February 28, 2009, the cost of investments was $109,337,678.
Gross unrealized appreciation and gross unrealized depreciation of investments at February 28, 2009, were as follows:
| ||
Gross unrealized: | ||
Appreciation | $ 1,807,282 | |
Depreciation | (6,595,868) | |
| ||
Net unrealized appreciation (depreciation) of investments | $(4,788,586) | |
|
(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 & Poors Group (Standard & Poors) or Moodys Investor Service, Inc. | |
(Moodys) rating. Ratings below BBB by Standard & Poors or Baa by Moodys 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 February 28, 2009. Subsequent to February 28, 2009, 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 that insurer or insurers presented at period end. | ||
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities | |
which ensure the timely payment of principal and interest. Such investments are normally considered to be | ||
equivalent to AAA rated securities. | ||
(5) | Preferred Shares, at Liquidation Value as a percentage of Total Investments is 35.6%. | |
N/R | Not rated. | |
(ETM) | Escrowed to maturity. | |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the | |
provisions of SFAS No. 140. |
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 Connecticut Premium Income Municipal Fund
By (Signature and Title)
/s/ Kevin J.
McCarthy
Kevin
J.
McCarthy
Vice President and Secretary
Date April 29, 2009
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 April 29, 2009
By (Signature and Title)
/s/ Stephen D.
Foy
Stephen
D.
Foy
Vice President and Controller (principal financial officer)
Date April 29, 2009