Investment Company Act file number 811-6385
Nuveen Ohio Quality Income Municipal Fund, Inc.
(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 Ohio Quality Income Municipal Fund, Inc. (NUO) | ||||||||
October 31, 2008 | ||||||||
Principal | Optional Call | |||||||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
| ||||||||
Consumer Staples 5.1% (3.3% of Total Investments) | ||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue | ||||||||
Bonds, Senior Lien, Series 2007A-2: | ||||||||
$ 2,000 | 5.875%, 6/01/30 | 6/17 at 100.00 | BBB | $ | 1,402,020 | |||
8,450 | 5.875%, 6/01/47 | 6/17 at 100.00 | BBB | 5,286,404 | ||||
125 | Puerto Rico, The Childrens Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, | 5/12 at 100.00 | BBB | 94,269 | ||||
Series 2002, 5.375%, 5/15/33 | ||||||||
| ||||||||
10,575 | Total Consumer Staples | 6,782,693 | ||||||
| ||||||||
Education and Civic Organizations 16.0% (10.5% of Total Investments) | ||||||||
1,650 | Ohio Higher Education Facilities Commission, General Revenue Bonds, Kenyon College, Series | 7/16 at 100.00 | A+ | 1,425,221 | ||||
2006, 5.000%, 7/01/41 | ||||||||
1,750 | Ohio Higher Education Facilities Commission, General Revenue Bonds, Oberlin College, Series | 10/13 at 100.00 | AA | 1,754,060 | ||||
2003, 5.125%, 10/01/24 | ||||||||
1,000 | Ohio Higher Education Facilities Commission, Revenue Bonds, Wittenberg University, Series | 12/15 at 100.00 | Baa2 | 731,310 | ||||
2005, 5.000%, 12/01/29 | ||||||||
2,420 | Ohio Higher Educational Facilities Commission, General Revenue Bonds, University of Dayton, | 12/16 at 100.00 | AA | 2,245,857 | ||||
2006 Project, Series 2006, 5.000%, 12/01/30 AMBAC Insured | ||||||||
1,415 | Ohio Higher Educational Facilities Commission, Revenue Bonds, Denison University, Series 2004, | 11/14 at 100.00 | AA | 1,388,766 | ||||
5.000%, 11/01/21 | ||||||||
1,320 | Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Series | 12/14 at 100.00 | AA | 1,264,349 | ||||
2004, 5.000%, 12/01/25 AMBAC Insured | ||||||||
1,000 | Ohio Higher Educational Facilities Commission, Revenue Bonds, Wittenberg University, Series | 12/11 at 100.00 | Baa2 | 951,390 | ||||
2001, 5.500%, 12/01/15 | ||||||||
1,500 | Ohio State Higher Education Facilities, Revenue Bonds, Case Western Reserve University, Series | 12/16 at 100.00 | AA | 1,352,595 | ||||
2006, 5.000%, 12/01/44 MBIA Insured | ||||||||
1,200 | Ohio State University, General Receipts Bonds, Series 2002A, 5.125%, 12/01/31 | 12/12 at 100.00 | AA | 1,143,012 | ||||
3,000 | Ohio State University, General Receipts Bonds, Series 2003B, 5.250%, 6/01/22 | 6/13 at 100.00 | AA | 3,030,240 | ||||
1,510 | University of Akron, Ohio, General Receipts Bonds, Series 2003A, 5.000%, 1/01/21 | 1/13 at 100.00 | AA | 1,472,295 | ||||
AMBAC Insured | ||||||||
850 | University of Cincinnati, Ohio, General Receipts Bonds, Series 2003C, 5.000%, 6/01/22 | 6/13 at 100.00 | A+ | 825,486 | ||||
FGIC Insured | ||||||||
University of Cincinnati, Ohio, General Receipts Bonds, Series 2004D: | ||||||||
1,200 | 5.000%, 6/01/19 AMBAC Insured | 6/14 at 100.00 | AA | 1,202,844 | ||||
2,605 | 5.000%, 6/01/25 AMBAC Insured | 6/14 at 100.00 | AA | 2,497,179 | ||||
| ||||||||
22,420 | Total Education and Civic Organizations | 21,284,604 | ||||||
| ||||||||
Health Care 17.3% (11.3% of Total Investments) | ||||||||
2,000 | Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Facilities Revenue | 11/09 at 101.00 | Baa1 | 1,741,860 | ||||
Bonds, Summa Health System, Series 1998A, 5.375%, 11/15/24 | ||||||||
3,650 | Butler County, Ohio, Hospital Facilities Revenue Bonds, Cincinnati Childrens Medical Center | 5/16 at 100.00 | N/R | 2,897,772 | ||||
Project, Series 2006K, 5.000%, 5/15/31 FGIC Insured | ||||||||
1,000 | Cuyahoga County, Ohio, Hospital Revenue Refunding and Improvement Bonds, MetroHealth System, | 2/09 at 100.00 | AA | 992,400 | ||||
Series 1997, 5.625%, 2/15/17 MBIA Insured | ||||||||
2,000 | Cuyahoga County, Ohio, Revenue Refunding Bonds, Cleveland Clinic Health System, Series 2003A, | 7/13 at 100.00 | Aa2 | 1,922,480 | ||||
6.000%, 1/01/32 | ||||||||
4,500 | Erie County, Ohio, Hospital Facilities Revenue Bonds, Firelands Regional Medical Center, | 8/12 at 101.00 | A | 3,751,380 | ||||
Series 2002A, 5.625%, 8/15/32 | ||||||||
1,000 | Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Childrens Hospital Project, Series | 11/18 at 100.00 | Aa2 | 859,220 | ||||
2005, 5.000%, 11/01/40 | ||||||||
2,455 | Hamilton County, Ohio, Revenue Bonds, Childrens Hospital Medical Center, Series 2004J, | 5/14 at 100.00 | AA | 2,407,103 | ||||
5.250%, 5/15/16 FGIC Insured | ||||||||
785 | Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center | 5/16 at 100.00 | A | 662,242 | ||||
Inc., Series 2006, 5.250%, 5/15/21 | ||||||||
Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A: | ||||||||
1,500 | 5.000%, 5/01/30 | 5/14 at 100.00 | AA | 1,290,975 | ||||
2,500 | 5.000%, 5/01/32 | No Opt. Call | AA | 2,112,300 | ||||
830 | Richland County, Ohio, Hospital Facilities Revenue Improvement Bonds, MedCentral Health System | 11/10 at 101.00 | A | 786,359 | ||||
Obligated Group, Series 2000B, 6.375%, 11/15/30 | ||||||||
1,200 | Richland County, Ohio, Hospital Revenue Bonds, MidCentral Health System Group, Series 2006, | 11/16 at 100.00 | A | 923,196 | ||||
5.250%, 11/15/36 | ||||||||
1,200 | Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008, | 12/18 at 100.00 | A | 1,025,292 | ||||
5.750%, 12/01/35 | ||||||||
1,705 | Tuscarawas County, Ohio, Hospital Facilities Revenue Bonds, Union Hospital Project, Series | 10/11 at 101.00 | A3 | 1,548,515 | ||||
2001, 5.750%, 10/01/21 RAAI Insured | ||||||||
| ||||||||
26,325 | Total Health Care | 22,921,094 | ||||||
| ||||||||
Housing/Multifamily 6.9% (4.5% of Total Investments) | ||||||||
1,385 | Clermont County, Ohio, GNMA Collateralized Mortgage Revenue Bonds, S.E.M. Villa II Project, | 2/09 at 100.00 | Aaa | 1,344,212 | ||||
Series 1994A, 5.950%, 2/20/30 | ||||||||
900 | Cuyahoga County, Ohio, GNMA Collateralized Multifamily Housing Mortgage Revenue Bonds, | 9/12 at 102.00 | Aaa | 763,146 | ||||
Livingston Park Apartments Project, Series 2002A, 5.350%, 9/20/27 (Alternative Minimum Tax) | ||||||||
Cuyahoga County, Ohio, GNMA Collateralized Multifamily Housing Mortgage Revenue Bonds, | ||||||||
Longwood Phase One Associates LP, Series 2001A: | ||||||||
2,475 | 5.350%, 1/20/21 (Alternative Minimum Tax) | 7/11 at 102.00 | Aaa | 2,229,728 | ||||
2,250 | 5.450%, 1/20/31 (Alternative Minimum Tax) | 7/11 at 102.00 | Aaa | 1,863,923 | ||||
985 | Franklin County, Ohio, FHA-Insured Multifamily Housing Mortgage Revenue Bonds, Hamilton Creek | 1/09 at 100.00 | Aa2 | 871,676 | ||||
Apartments Project, Series 1994A, 5.550%, 7/01/24 (Alternative Minimum Tax) | ||||||||
800 | Montgomery County, Ohio, GNMA Guaranteed Multifamily Housing Revenue Bonds, Canterbury Court | 10/18 at 101.00 | Aaa | 630,672 | ||||
Project, Series 2007, 5.500%, 10/20/42 (Alternative Minimum Tax) | ||||||||
850 | Ohio Housing Finance Agency, FHA-Insured Multifamily Housing Mortgage Revenue Bonds, Madonna | 6/16 at 102.00 | AAA | 582,174 | ||||
Homes, Series 2006M, 4.900%, 6/20/48 (Alternative Minimum Tax) | ||||||||
1,200 | Summit County Port Authority, Ohio, Multifamily Housing Revenue Bonds, Callis Tower Apartments | 9/17 at 102.00 | AAA | 894,936 | ||||
Project, Series 2007, 5.250%, 9/20/47 (Alternative Minimum Tax) | ||||||||
| ||||||||
10,845 | Total Housing/Multifamily | 9,180,467 | ||||||
| ||||||||
Housing/Single Family 2.7% (1.7% of Total Investments) | ||||||||
1,425 | Ohio Housing Finance Agency, GNMA Mortgage-Backed Securities Program Residential Mortgage | 3/09 at 102.00 | Aaa | 1,191,827 | ||||
Revenue Bonds, Series 1997B, 5.400%, 9/01/29 (Alternative Minimum Tax) | ||||||||
915 | Ohio Housing Finance Agency, GNMA Mortgage-Backed Securities Program Residential Mortgage | 3/09 at 100.75 | Aaa | 847,034 | ||||
Revenue Bonds, Series 1998A-1, 5.300%, 9/01/19 FSA Insured (Alternative Minimum Tax) | ||||||||
1,995 | Ohio Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006H, 5.000%, | 9/15 at 100.00 | Aaa | 1,537,666 | ||||
9/01/31 (Alternative Minimum Tax) | ||||||||
| ||||||||
4,335 | Total Housing/Single Family | 3,576,527 | ||||||
| ||||||||
Industrials 1.1% (0.7% of Total Investments) | ||||||||
1,500 | Dayton, Ohio, Special Facilities Revenue Refunding Bonds, Emery Air Freight Corporation and | 2/09 at 101.00 | AA | 1,496,115 | ||||
Emery Worldwide Airlines Inc. Guarantors, Series 1998A, 5.625%, 2/01/18 | ||||||||
| ||||||||
Long-Term Care 0.8% (0.5% of Total Investments) | ||||||||
1,600 | Hamilton County, Ohio, Health Care Revenue Refunding Bonds, Life Enriching Communities | 1/17 at 100.00 | BBB | 1,026,832 | ||||
Project, Series 2006A, 5.000%, 1/01/37 | ||||||||
| ||||||||
Materials 1.5% (1.0% of Total Investments) | ||||||||
2,000 | Toledo-Lucas County Port Authority, Ohio, Port Revenue Bonds, Cargill Inc., Series 2004B, | No Opt. Call | A | 1,957,560 | ||||
4.500%, 12/01/15 | ||||||||
| ||||||||
Tax Obligation/General 42.3% (27.6% of Total Investments) | ||||||||
Butler County, Ohio, General Obligation Bonds, Series 2002: | ||||||||
1,345 | 5.000%, 12/01/21 MBIA Insured | 12/12 at 100.00 | Aa2 | 1,344,946 | ||||
1,200 | 5.000%, 12/01/22 MBIA Insured | 12/12 at 101.00 | Aa2 | 1,193,952 | ||||
1,500 | Centerville City School District, Montgomery County, Ohio, General Obligation Bonds, Series | 6/15 at 100.00 | Aaa | 1,441,770 | ||||
2005, 5.000%, 12/01/30 FSA Insured | ||||||||
1,000 | Central Ohio Solid Waste Authority, General Obligation Bonds, Series 2004A, 5.000%, 12/01/15 | 6/14 at 100.00 | AAA | 1,047,880 | ||||
AMBAC Insured | ||||||||
2,600 | Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, Series 2002, | 12/12 at 100.00 | AAA | 2,623,634 | ||||
5.250%, 6/01/21 FSA Insured | ||||||||
1,000 | Cleveland Municipal School District, Cuyahoga County, Ohio, General Obligation Bonds, Series | 6/14 at 100.00 | AAA | 985,060 | ||||
2004, 5.000%, 12/01/22 FSA Insured | ||||||||
1,200 | Cuyahoga County, Ohio, General Obligation Bonds, Series 2004, 5.000%, 12/01/21 | 12/14 at 100.00 | AA+ | 1,206,324 | ||||
1,000 | Dayton, Ohio, General Obligation Bonds, Series 2004, 5.250%, 12/01/19 AMBAC Insured | 6/14 at 100.00 | AA | 1,024,230 | ||||
1,000 | Dublin City School District, Franklin, Delaware and Union Counties, Ohio, General Obligation | 12/13 at 100.00 | AAA | 996,960 | ||||
Bonds, Series 2003, 5.000%, 12/01/22 FSA Insured | ||||||||
1,000 | Dublin, Ohio, Unlimited Tax Various Purpose Improvement Bonds, Series 2000A, 5.000%, 12/01/20 | 12/10 at 100.00 | Aaa | 1,006,870 | ||||
1,195 | Fairview Park City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series | 6/15 at 100.00 | A2 | 1,150,211 | ||||
2005, 5.000%, 12/01/24 MBIA Insured | ||||||||
1,840 | Franklin County, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/28 | 12/17 at 100.00 | AAA | 1,828,390 | ||||
1,300 | Franklin County, Ohio, Limited Tax General Obligation Refunding Bonds, Series 1993, | 12/08 at 102.00 | AAA | 1,318,512 | ||||
5.375%, 12/01/20 | ||||||||
1,500 | Green, Ohio, General Obligation Bonds, Series 2008, 5.500%, 12/01/32 | 12/15 at 100.00 | AA | 1,482,165 | ||||
7,020 | Hamilton City School District, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/34 | 6/17 at 100.00 | AAA | 6,582,580 | ||||
FSA Insured | ||||||||
1,850 | Hilliard School District, Franklin County, Ohio, General Obligation Bonds, School | 12/15 at 100.00 | AA | 1,800,550 | ||||
Construction, Series 2005, 5.000%, 12/01/26 MBIA Insured | ||||||||
3,000 | Hilliard School District, Franklin County, Ohio, General Obligation Bonds, Series 2006A, | 12/16 at 100.00 | AA | 2,935,800 | ||||
5.000%, 12/01/25 MBIA Insured | ||||||||
2,580 | Indian Lake Local School District, Logan and Auglaize Counties, Ohio, School Facilities | 6/17 at 100.00 | AA | 2,355,721 | ||||
Improvement and Refunding Bonds, Series 2007, 5.000%, 12/01/34 MBIA Insured | ||||||||
1,160 | Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2003, | 6/13 at 100.00 | Aa3 | 1,154,154 | ||||
5.000%, 12/01/22 MBIA Insured | ||||||||
800 | Lakewood City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series 2007, | 12/17 at 100.00 | AA | 778,464 | ||||
5.000%, 12/01/25 FGIC Insured | ||||||||
2,000 | Louisville City School District, Ohio, General Obligation Bonds, Series 2001, 5.000%, | 12/11 at 100.00 | A3 | 1,838,580 | ||||
12/01/29 FGIC Insured | ||||||||
505 | Marysville Exempted School District, Union County, Ohio, General Obligation Bonds, Series | 12/15 at 100.00 | AAA | 494,193 | ||||
2006, 5.000%, 12/01/25 FSA Insured | ||||||||
500 | Mason City School District, Counties of Warren and Butler, Ohio, General Obligation Bonds, | 6/17 at 100.00 | Aa1 | 475,030 | ||||
Series 2007, 5.000%, 12/01/31 | ||||||||
1,515 | Massillon City School District, Ohio, General Obligation Bonds, Series 2003, 5.250%, | 12/12 at 100.00 | A2 | 1,528,771 | ||||
12/01/21 MBIA Insured | ||||||||
1,350 | Milford Exempted Village School District, Ohio, General Obligation Bonds, Series 2008, | 12/18 at 100.00 | A2 | 1,208,223 | ||||
5.250%, 12/01/36 | ||||||||
640 | New Albany Plain Local School District, Franklin County, Ohio, General Obligation Bonds, | 6/12 at 100.00 | Aa2 | 668,730 | ||||
Series 2002, 5.500%, 12/01/17 FGIC Insured | ||||||||
1,000 | Newark City School District, Licking County, Ohio, General Obligation Bonds, Series 2005, | 12/15 at 100.00 | AA | 943,100 | ||||
5.000%, 12/01/28 FGIC Insured | ||||||||
1,000 | Northmor Local School District, Morrow County, Ohio, General Obligation School Facilities | 11/18 at 100.00 | Aa2 | 905,230 | ||||
Construction and Improvement Bonds, Series 2008, 5.000%, 11/01/36 | ||||||||
3,000 | Ohio, General Obligation Bonds, Infrastructure Improvements, Series 2003F, 5.000%, 2/01/23 | 2/13 at 100.00 | AA+ | 2,984,670 | ||||
1,510 | Painesville City School District, Ohio, General Obligation Bonds, Series 2004, 5.000%, | 12/14 at 100.00 | AA | 1,487,441 | ||||
12/01/22 FGIC Insured | ||||||||
280 | Plain Local School District, Franklin and Licking Counties, Ohio, General Obligation Bonds, | 6/11 at 100.00 | Aa2 | 294,305 | ||||
Series 2000, 6.000%, 12/01/20 FGIC Insured | ||||||||
1,445 | Portage County, Ohio, General Obligation Bonds, Series 2001, 5.000%, 12/01/27 FGIC Insured | 12/11 at 100.00 | AA | 1,378,270 | ||||
2,000 | Strongsville, Ohio, General Obligation Bonds, Series 2001, 5.000%, 12/01/21 FGIC Insured | 12/11 at 100.00 | Aa1 | 1,999,920 | ||||
70 | Strongsville, Ohio, Limited Tax General Obligation Various Purpose Improvement Bonds, Series | 12/08 at 100.00 | Aa1 | 70,139 | ||||
1996, 5.950%, 12/01/21 | ||||||||
Warren City School District, Trumbull County, Ohio, General Obligation Bonds, Series 2004: | ||||||||
2,515 | 5.000%, 12/01/20 FGIC Insured | 6/14 at 100.00 | AA | 2,531,926 | ||||
1,170 | 5.000%, 12/01/22 FGIC Insured | 6/14 at 100.00 | AA | 1,164,103 | ||||
1,000 | West Chester Township, Butler County, Ohio, General Obligation Bonds, Series 2003, 5.000%, | 12/13 at 100.00 | Aa1 | 940,780 | ||||
12/01/28 MBIA Insured | ||||||||
1,000 | Westlake, Ohio, Various Purpose General Obligation Improvement and Refunding Bonds, Series | 12/08 at 101.00 | Aaa | 1,012,800 | ||||
1997, 5.550%, 12/01/17 | ||||||||
| ||||||||
57,590 | Total Tax Obligation/General | 56,184,384 | ||||||
| ||||||||
Tax Obligation/Limited 13.2% (8.6% of Total Investments) | ||||||||
1,380 | Columbus, Ohio, Tax Increment Financing Bonds, Easton Project, Series 2004A, 5.000%, | 6/14 at 100.00 | AA | 1,241,890 | ||||
12/01/25 AMBAC Insured | ||||||||
3,000 | Franklin County, Ohio, Excise Tax and Lease Revenue Anticipation Bonds, Convention Facilities | 12/15 at 100.00 | Aaa | 2,885,670 | ||||
Authority, Series 2005, 5.000%, 12/01/27 AMBAC Insured | ||||||||
1,085 | Hamilton County Convention Facilities Authority, Ohio, First Lien Revenue Bonds, Series 2004, | 6/14 at 100.00 | A+ | 1,067,000 | ||||
5.000%, 12/01/18 FGIC Insured | ||||||||
4,600 | Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006, 5.000%, 12/01/32 - | 12/16 at 100.00 | Aa3 | 4,208,907 | ||||
AMBAC Insured | ||||||||
1,000 | Hudson City School District, Ohio, Certificates of Participation, Series 2004, 5.000%, | 6/14 at 100.00 | A1 | 909,410 | ||||
6/01/26 MBIA Insured | ||||||||
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, | ||||||||
Series 2001B: | ||||||||
1,000 | 5.500%, 10/01/15 AMBAC Insured | 4/12 at 100.00 | AA | 1,034,920 | ||||
1,000 | 5.500%, 10/01/17 AMBAC Insured | 4/12 at 100.00 | AA | 1,015,640 | ||||
800 | Ohio State Building Authority, State Facilities Bonds, Administrative Building Fund Projects, | 4/15 at 100.00 | AAA | 785,904 | ||||
Series 2005A, 5.000%, 4/01/25 FSA Insured | ||||||||
2,645 | Ohio State Building Authority, State Facilities Bonds, Adult Correctional Building Fund | 4/14 at 100.00 | AA | 2,800,526 | ||||
Project, Series 2004A, 5.250%, 4/01/15 MBIA Insured | ||||||||
1,000 | Ohio, State Appropriation Lease Bonds, Mental Health Capital Facilities, Series 2003B-II, | 6/13 at 100.00 | AA | 1,040,400 | ||||
5.000%, 6/01/16 | ||||||||
3,430 | Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, | No Opt. Call | AA | 557,444 | ||||
0.000%, 7/01/35 AMBAC Insured | ||||||||
| ||||||||
20,940 | Total Tax Obligation/Limited | 17,547,711 | ||||||
| ||||||||
Transportation 3.5% (2.3% of Total Investments) | ||||||||
3,000 | Dayton, Ohio, Airport Revenue Bonds, James M. Cox International Airport, Series 2003C, 5.250%, | 12/13 at 100.00 | BBB+ | 2,525,370 | ||||
12/01/23 RAAI Insured (Alternative Minimum Tax) | ||||||||
2,000 | Ohio Turnpike Commission, Revenue Refunding Bonds, Series 1998A, 5.500%, 2/15/18 FGIC Insured | No Opt. Call | AA | 2,130,480 | ||||
| ||||||||
5,000 | Total Transportation | 4,655,850 | ||||||
| ||||||||
U.S. Guaranteed 29.6% (19.3% of Total Investments) (4) | ||||||||
Butler County, Ohio, General Obligation Judgment Bonds, Series 2002: | ||||||||
2,030 | 5.250%, 12/01/21 (Pre-refunded 12/01/12) | 12/12 at 101.00 | Aa2 (4) | 2,215,014 | ||||
2,140 | 5.250%, 12/01/22 (Pre-refunded 12/01/12) | 12/12 at 101.00 | Aa2 (4) | 2,335,040 | ||||
1,210 | Columbus, Ohio, Tax Increment Financing Bonds, Easton Project, Series 1999, 4.875%, 12/01/24 | 6/09 at 101.00 | AA (4) | 1,244,909 | ||||
(Pre-refunded 6/01/09) AMBAC Insured | ||||||||
1,000 | Dayton, Ohio, Airport Revenue Bonds, James M. Cox International Airport, Series 2005B, 5.000%, | No Opt. Call | BBB+ (4) | 1,079,700 | ||||
12/01/14 SYNCORA GTY Insured (ETM) | ||||||||
385 | Franklin County, Ohio, First Mortgage Revenue, OCLC Inc. Project, Series 1979, 7.500%, | 12/08 at 100.00 | AAA | 396,496 | ||||
6/01/09 (ETM) | ||||||||
2,000 | Garfield Heights City School District, Cuyahoga County, Ohio, General Obligation School | 12/11 at 100.00 | A2 (4) | 2,129,920 | ||||
Improvement Bonds, Series 2001, 5.000%, 12/15/26 (Pre-refunded 12/15/11) MBIA Insured | ||||||||
1,500 | Hamilton County, Ohio, Sewer System Revenue and Improvement Bonds, Metropolitan Sewer District | 6/10 at 101.00 | AA (4) | 1,595,190 | ||||
of Greater Cincinnati, Series 2000A, 5.750%, 12/01/25 (Pre-refunded 6/01/10) MBIA Insured | ||||||||
1,000 | Hilliard School District, Ohio, General Obligation School Improvement Bonds, Series 2000, | 12/10 at 101.00 | AA (4) | 1,077,190 | ||||
5.750%, 12/01/24 (Pre-refunded 12/01/10) FGIC Insured | ||||||||
2,000 | Lakota Local School District, Butler County, Ohio, Unlimited Tax General Obligation School | 6/11 at 100.00 | Aa1 (4) | 2,119,060 | ||||
Improvement and Refunding Bonds, Series 2001, 5.125%, 12/01/26 (Pre-refunded | ||||||||
6/01/11) FGIC Insured | ||||||||
760 | Middletown City School District, Butler County, Ohio, General Obligation Bonds, Series 2004, | 12/13 at 100.00 | N/R (4) | 812,098 | ||||
5.000%, 12/01/25 (Pre-refunded 12/01/13) FGIC Insured | ||||||||
3,000 | Montgomery County, Ohio, Hospital Facilities Revenue Bonds, Kettering Medical Center, Series | 4/10 at 101.00 | A (4) | 3,213,780 | ||||
1999, 6.750%, 4/01/18 (Pre-refunded 4/01/10) | ||||||||
1,260 | Morgan Local School District, Morgan, Muskingum and Washington Counties, Ohio, Unlimited Tax | 12/10 at 101.00 | AA (4) | 1,358,330 | ||||
General Obligation School Improvement Bonds, Series 2000, 5.750%, 12/01/22 | ||||||||
(Pre-refunded 12/01/10) | ||||||||
460 | New Albany Plain Local School District, Franklin County, Ohio, General Obligation Bonds, | 6/12 at 100.00 | Aa2 (4) | 498,051 | ||||
Series 2002, 5.500%, 12/01/17 (Pre-refunded 6/01/12) FGIC Insured | ||||||||
4,315 | Ohio Capital Corporation for Housing, FHA-Insured Section 8 Assisted Mortgage Loan Revenue | 2/09 at 102.00 | N/R (4) | 4,446,002 | ||||
Refunding Bonds, Series 1999G, 5.950%, 2/01/24 (Pre-refunded 2/01/09) | ||||||||
Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation | ||||||||
Bonds, Series 2004A: | ||||||||
1,315 | 5.250%, 12/01/23 (Pre-refunded 6/01/14) FGIC Insured | 6/14 at 100.00 | AA+ (4) | 1,424,369 | ||||
3,380 | 5.250%, 12/01/24 (Pre-refunded 6/01/14) FGIC Insured | 6/14 at 100.00 | AA+ (4) | 3,661,115 | ||||
1,000 | Princeton City School District, Butler County, Ohio, General Obligation Bonds, Series 2003, | 12/13 at 100.00 | AAA | 1,081,120 | ||||
5.000%, 12/01/30 (Pre-refunded 12/01/13) MBIA Insured | ||||||||
1,670 | Richland County, Ohio, Hospital Facilities Revenue Improvement Bonds, MedCentral Health System | 11/10 at 101.00 | A (4) | 1,810,915 | ||||
Obligated Group, Series 2000B, 6.375%, 11/15/30 (Pre-refunded 11/15/10) | ||||||||
2,830 | Springfield Township, Hamilton County, Ohio, Various Purpose Limited Tax General Obligation | 12/11 at 100.00 | Aa3 (4) | 3,032,685 | ||||
Bonds, Series 2002, 5.250%, 12/01/27 (Pre-refunded 12/01/11) | ||||||||
1,500 | Steubenville, Ohio, Hospital Facilities Revenue Refunding and Improvement Bonds, Trinity | 10/10 at 100.00 | A3 (4) | 1,611,150 | ||||
Health System, Series 2000, 6.375%, 10/01/20 (Pre-refunded 10/01/10) | ||||||||
2,000 | Westerville City School District, Franklin and Delaware Counties, Ohio, Various Purpose | 6/11 at 100.00 | AA (4) | 2,107,240 | ||||
General Obligation Bonds, Series 2001, 5.000%, 12/01/27 (Pre-refunded 6/01/11) MBIA Insured | ||||||||
| ||||||||
36,755 | Total U.S. Guaranteed | 39,249,374 | ||||||
| ||||||||
Utilities 9.8% (6.4% of Total Investments) | ||||||||
2,500 | American Municipal Power Ohio Inc., General Revenue Bonds, Series 2008, 5.250%, 2/15/43 | 2/18 at 100.00 | A1 | 2,229,075 | ||||
4,000 | American Municipal Power Ohio Inc., Wadsworth, Electric System Improvement Revenue Bonds, | 2/12 at 100.00 | A2 | 3,901,119 | ||||
Series 2002, 5.000%, 2/15/22 MBIA Insured (5) | ||||||||
Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B: | ||||||||
2,105 | 0.000%, 11/15/32 MBIA Insured | No Opt. Call | AA | 472,783 | ||||
2,155 | 0.000%, 11/15/34 MBIA Insured | No Opt. Call | AA | 423,177 | ||||
3,000 | Ohio Air Quality Development Authority, Revenue Bonds, JMG Funding Limited Partnership | 4/09 at 100.00 | Aa3 | 2,692,380 | ||||
Project, Series 1997, 5.625%, 1/01/23 AMBAC Insured (Alternative Minimum Tax) | ||||||||
800 | Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville | No Opt. Call | AA | 219,368 | ||||
Hydroelectric Project Joint Venture 5, Series 2001, 0.000%, 2/15/29 MBIA Insured | ||||||||
2,000 | Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville | 2/14 at 100.00 | AA | 1,925,180 | ||||
Hydroelectric Project Joint Venture 5, Series 2004, 5.000%, 2/15/20 AMBAC Insured | ||||||||
1,400 | Ohio Water Development Authority, Solid Waste Disposal Revenue Bonds, Bay Shore Power, Series | 3/09 at 102.00 | N/R | 1,122,212 | ||||
1998A, 5.875%, 9/01/20 (Alternative Minimum Tax) | ||||||||
| ||||||||
17,960 | Total Utilities | 12,985,294 | ||||||
| ||||||||
Water and Sewer 3.5% (2.3% of Total Investments) | ||||||||
430 | City of Marysville, Ohio, Water System Mortgage Revenue Bonds, Series 2007, 5.000%, 12/01/32 | 12/17 at 100.00 | Aa3 | 388,729 | ||||
AMBAC Insured | ||||||||
1,000 | Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series | No Opt. Call | AA | 983,390 | ||||
1993G, 5.500%, 1/01/21 MBIA Insured | ||||||||
40 | Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series | 1/09 at 100.00 | AA | 40,002 | ||||
1996H, 5.750%, 1/01/26 MBIA Insured | ||||||||
1,220 | Hamilton, Ohio, Wastewater System Revenue Bonds, Series 2005, 5.250%, 10/01/22 FSA Insured | 10/15 at 100.00 | Aaa | 1,217,560 | ||||
525 | Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, State Match, | 6/18 at 100.00 | AAA | 519,162 | ||||
Series 2008, 5.000%, 6/01/28 FSA Insured | ||||||||
1,500 | Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Water | 6/15 at 100.00 | AAA | 1,504,935 | ||||
Quality Project, Series 2005B, 5.000%, 6/01/25 | ||||||||
| ||||||||
4,715 | Total Water and Sewer | 4,653,778 | ||||||
| ||||||||
$ 222,560 | Total Investments (cost $217,056,871) 153.3% | 203,502,283 | ||||||
|
| |||||||
Other Assets Less Liabilities 4.7% | 6,283,094 | |||||||
| ||||||||
Preferred Shares, at Liquidation Value (58.0)% (6) | (77,000,000) | |||||||
| ||||||||
Net Assets Applicable to Common Shares 100% | $ | 132,785,377 | ||||||
|
(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 to 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 | ||
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) | Portion of investment has been pledged to collateralize the net payment obligations under futures contracts | |
entered into by the Fund during the period. | ||
(6) | Preferred Shares, at Liquidation Value as a percentage of Total Investments is 37.8%. | |
N/R | Not rated. | |
(ETM) | Escrowed to maturity. |
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 | $ | $203,502,283 | $ | $203,502,283 | ||||
|
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 and timing differences in recognizing certain gains and losses on investment transactions. 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 $216,994,746.
Gross unrealized appreciation and gross unrealized depreciation of investments at October 31, 2008, were as follows:
| ||
Gross unrealized: | ||
Appreciation | $ 2,779,259 | |
Depreciation | (16,271,722) | |
| ||
Net unrealized appreciation (depreciation) of investments | $(13,492,463) | |
|
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 Ohio Quality Income Municipal Fund, Inc.
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