THIS DOCUMENT IS A COPY OF THE FORM N-Q FILED ON SEPTEMBER 29, 2004 PURSUANT TO
A RULE 201 TEMPORARY HARDSHIP EXEMPTION.
As filed with the Securities and Exchange Commission on September 29, 2004
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21167
NEUBERGER BERMAN CALIFORNIA INTERMEDIATE MUNICIPAL FUND, INC.
(Exact Name of the Registrant as Specified in Charter)
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
(Address of Principal Executive Offices - Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Peter E. Sundman, Chief Executive Officer
Neuberger Berman California Intermediate Municipal Fund, Inc.
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
Arthur Delibert, Esq.
Kirkpatrick & Lockhart LLP
1800 Massachusetts Avenue, N.W.
Washington, D.C. 20036-1221
(Names and addresses of agents for service)
Date of fiscal year end: October 31, 2004
Date of reporting period: July 31, 2004
Form N-Q is to be used by management investment companies to file reports with
the Commission not later than 60 days after the close of their first and third
fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of
1940 ("1940 Act")(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
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. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments California Intermediate Municipal Fund Inc.
Principal Amount Security @ Rating Value+
($ 000's omitted) Moody's S&P ($000's omitted)
Tax-Exempt Securities-Backed by Insurance (86.5%)
American Capital Access
1,000 Puerto Rico Ind ., Tourist, Ed., Med., & Env. Ctrl. Fac. Rev.
(Polytechnic Univ. of Puerto Rico Proj.), Ser. 2002 A,
5.25%, due 8/1/15 A 1,021++
American Municipal Bond Assurance Corp.
1,285 Bay Area (CA) Governments Assoc. Bart SFO Extension Rev.
(Arpt. Premium Fare), Ser. 2002 A, 5.00%, due 8/1/21 AAA 1,324
1,000 California St. Pub. Works Board Lease (Dept. of Gen. Svc.)
Rev. (Cap. East End Complex), Ser. 2002 A, 5.25%, due
12/1/16 AAA 1,077
1,000 Fresno (CA) Unified Sch. Dist. Ref. G.O., Ser. 2002 A,
6.00%, due 2/1/17 AAA 1,175
1,905 Long Beach (CA) Bond Fin. Au. Tax Allocation Rev.,
(Downtown, North Long Beach, Poly High, & West Beach Redev.
Proj.), Ser. 2002 A, 5.38%, due 8/1/17 AAA 2,061
500 Long Beach (CA) Fin. Au. Rev., Ser. 1992, 6.00%, due 11/1/17 AAA 578
1,045 Marin Co. (CA) Muni. Wtr. Dist. Wtr. Ref. Rev., Ser. 2002,
5.00%, due 7/1/17 AAA 1,104
1,445 Oceanside (CA) Cert. of Participation Ref. Rev., Ser. 2003
A, 5.25%, due 4/1/14 AAA 1,579
2,600 Sacramento (CA) Muni. Util. Dist. Elec. Rev., Ser. 1997 K,
5.70%, due 7/1/17 AAA 2,966
500 Salinas Valley (CA) Solid Waste Au. Rev., Ser. 2002, 5.00%,
due 8/1/06 AAA 527
2,000 San Francisco (CA) St. Bldg. Au. Lease Rev. (San Francisco
Civic Ctr. Complex), Ser. 1996 A, 5.25%, due 12/1/16 AAA 2,148
2,500 San Jose (CA) Fin. Au. Lease Rev. (Civic Ctr. Proj.), Ser.
2002 B, 5.25%, due 6/1/17 AAA 2,679
1,000 San Jose (CA) Multi-Family Hsg. Rev. (Fallen Leaves Apts.
Proj.), Ser. 2002 J-1, 4.95%, due 12/1/22 Aaa AAA 1,007
Financial Guaranty Insurance Co.
2,550 Contra Costa (CA) Comm. College Dist. G.O., Ser. 2002,
5.25%, due 8/1/17 AAA 2,745
1,000 Kings Canyon (CA) Joint Unified Sch. Dist. G.O., Ser. 2002,
5.38%, due 8/1/17 Aaa AAA 1,085
5,000 Los Angeles (CA) Dept. of Arpts. Rev. (Los Angeles Int'l.
Arpt.), Ser. 2002 A, 5.25%, due 5/15/18 Aaa AAA 5,322
1,090 Moreland (CA) Sch. Dist. Ref. G.O., Ser. 2002, 5.13%, due
9/1/17 AAA 1,163
535 Nevada & Placer Cos. (CA) Irrigation Dist. Cert. of
Participation Rev., Ser. 2002, 5.00%, due 1/1/16 AAA 565
565 Nevada & Placer Cos. (CA) Irrigation Dist. Cert. of
Participation Rev., Ser. 2002, 5.00%, due 1/1/17 AAA 594
1,045 Oakland (CA) G.O., Ser. 2002 A, 5.00%, due 1/15/15 AAA 1,111
1,210 Oakland (CA) G.O., Ser. 2002 A, 5.00%, due 1/15/18 AAA 1,268
1,290 Oakland (CA) Redev. Agcy. Sub. Tax Allocation Rev. (Central
Dist. Redev. Proj.), Ser. 2003, 5.50%, due 9/1/17 AAA 1,415
575 Port of Oakland (CA) Rev., Ser. 2002 M, 5.25%, due 11/1/17 AAA 619
2,655 Riverside Co. (CA) Eastern Muni. Wtr. Dist. Cert. of
Participation Wtr. & Swr. Rev., Ser. 2001 A, 5.00%, due
7/1/19 Aaa AAA 2,749
2,000 San Diego (CA) Unified Sch. Dist. G.O., Ser. 2002 D, 5.25%,
due 7/1/21 Aaa AAA 2,125
1,500 San Francisco (CA) City & Co. Int'l. Arpt. Second Ser. Rev.,
5.25%, due 5/1/16 AAA 1,561
Financial Security Assurance Inc.
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments California Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($ 000's omitted) Moody's S&P ($000's omitted)
1,000 Burbank (CA) Pub. Svc. Dept. Elec. Rev., Ser. 1998, 5.13%,
due 6/1/16 AAA 1,065
1,000 California St. Dept. of Wtr. Res. Wtr. Rev., Ser. 2001 W,
5.50%, due 12/1/13 Aaa AAA 1,136
3,000 California St. Pub. Works Board Lease Rev. (Regents of the
Univ. of California, UCLA Replacement Hosp.), Ser. 2002 A,
5.38%, due 10/1/13 AAA 3,323
1,275 Los Angeles Co. (CA) Long Beach Unified Sch. Dist. G.O.,
Ser. 2002 D, 5.00%, due 8/1/17 AAA 1,337
500 Marin Co. (CA) Dixie Elementary Sch. Dist. G.O., Ser. 2000
A, 5.38%, due 8/1/17 AAA 545
3,000 Puerto Rico Muni. Fin. Agcy. Rev., Ser. 2002 A, 5.25%, due
8/1/17 AAA 3,263
1,000 Puerto Rico Muni. Fin. Agcy. Rev., Ser. 2002 A, 5.25%, due
8/1/21 Aaa AAA 1,072
5,000 San Francisco (CA) City & Co. Redev. Agcy. Lease Ref. Rev.
(George R. Moscone Convention Ctr.), Ser. 2002, 5.00%, due
7/1/17 Aaa AAA 5,266
1,000 San Jose (CA) Arpt. Ref. Rev., Ser. 2002 B, 5.00%, due
3/1/11 AAA 1,057
1,615 San Jose (CA) Arpt. Ref. Rev., Ser. 2002 B, 5.00%, due
3/1/12 AAA 1,706
1,620 Santa Clara Co. (CA) Fremont Union High Sch. Dist. G.O.,
Ser. 2002 C, 5.00%, due 9/1/20 Aaa AAA 1,686
Municipal Bond Investors Assurance Corp.
1,250 Alameda Co. (CA) Cert. of Participation Ref. Rev., Ser. 2001
A, 5.38%, due 12/1/17 AAA 1,354
4,000 California Poll. Ctrl. Fin. Au. Ref. PCR (Pacific Gas &
Elec. Co.), Ser. 1996 A, 5.35%, due 12/1/16 AAA 4,259++
2,835 Glendale (CA) Redev. Agcy. Tax Allocation Rev. (Central
Glendale Redev. Proj.), Ser. 2002, 5.00%, due 12/1/16 AAA 3,021
2,480 Glendale (CA) Redev. Agcy. Tax Allocation Rev. (Central
Glendale Redev. Proj.), Ser. 2002, 5.25%, due 12/1/17 AAA 2,681
3,890 Port of Oakland (CA) Ref. Rev., Ser. 2002 N, 5.00%, due
11/1/13 AAA 4,113
750 Santa Clara Co. (CA) Saratoga Union Sch. Dist. Ref. G.O.,
Ser. 1999, 5.13%, due 9/1/11 AAA 831
3,905 Solano Co. (CA) Cert. of Participation Rev., Ser. 2002,
5.25%, due 11/1/17 AAA 4,191
1,000 Univ. of California Regents Rev. (Multi. Purp. Proj.), Ser.
2000 K, 5.00%, due 9/1/12 AAA 1,080
-------
84,554
-------
Tax-Exempt Securities-Other (70.9%)
780 Abag (CA) Fin. Au. Cert. of Participation Rev. (Channing
House), Ser. 1999, 4.90%, due 2/15/09 BBB+ 811++
3,050 Abag (CA) Fin. Au. Cert. of Participation Rev. (Episcopal
Homes Foundation), Ser. 1998, 5.13%, due 7/1/18 BBB+ 2,903++
1,000 Abag (CA) Fin. Au. Rev. (San Diego Hosp. Assoc.), Ser. 2003
C, 5.13%, due 3/1/18 Baa1 BBB+ 993++
900 Brazos (TX) River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 A, 6.75%, due 4/1/38 Putable 4/1/13 Baa2 BBB 1,011
750 Brazos (TX) River Au. Ref. Rev. (Reliant Energy, Inc.
Proj.), Ser. 1999 B, 7.75%, due 12/1/18 Ba1 BBB- 817++
1,000 Brazos (TX) River Harbor Navigation Dist. of Brazoria Co.
Env. Fac. Rev. (Dow Chemical Co. Proj.), Ser. 2002 A-4,
5.20%, due 5/15/33 A3 A 1,053++
765 California Co. (CA) Tobacco Securitization Agcy. Tobacco
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments California Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($ 000's omitted) Moody's S&P ($000's omitted)
Settlement Asset-Backed Rev., Ser. 2002, 4.75%, due 6/1/19 Baa3 BBB 749
1,750 California Ed. Fac. Au. Ref. Rev. (Stanford Univ.), Ser.
2001 R, 5.00%, due 11/1/21 Aaa AAA 1,817++
2,000 California Hlth. Fac. Fin. Au. Rev. (Catholic Healthcare
West), Ser. 2004 I, 4.95%, due 7/1/26 Baa1 BBB+ 1,993++
2,000 California Hlth. Fac. Fin. Au. Rev. (Cedars-Sinai Med.
Ctr.), Ser. 1999 A, 6.13%, due 12/1/19 A3 2,158++
1,000 California Hlth. Fac. Fin. Au. Rev. (Kaiser Permanente),
Ser. 1998 B, 5.00%, due 10/1/20 AAA 1,039++
1,500 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev.
(Republic Svc., Inc. Proj.), Ser. 2002 B, 5.25%, due 6/1/23 Baa3 BBB 1,533++
2,500 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev.
(Waste Management, Inc. Proj.), Ser. 2002 B, 4.45%, due
7/1/27 Putable 7/1/05 BBB 2,527++
1,000 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev.
(Waste Management, Inc. Proj.), Ser. 2002 C, 4.85%, due
12/1/27 Putable 12/1/17 BBB 1,034++
4,500 California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser.
2002 A, 5.75%, due 5/1/17 A3 BBB+ 4,965
1,000 California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser.
2002 A, 5.38%, due 5/1/22 A3 BBB+ 1,043
2,250 California St. G.O., Ser. 2002, 5.00%, due 10/1/17 A1 A+ 2,342
1,095 California St. Pub. Works Board Lease Rev. (California Comm.
Colleges), Ser. 2004 B, 5.50%, due 6/1/20 Baa2 BBB- 1,176
1,000 California St. Univ., Fresno Assoc., Inc. Rev. (Auxiliary
Organization Event Ctr.), Ser. 2002, 5.00%, due 7/1/12 Baa3 BBB- 1,030
2,000 California Statewide CDA Cert. of Participation Rev.
(Children's Hosp. Los Angeles), Ser. 1999, 5.13%, due
8/15/19 A2 A+ 2,032++
2,000 California Statewide CDA Cert. of Participation Rev. (The
Internext Group), Ser. 1999, 5.38%, due 4/1/17 BBB 1,990++
5,000 California Statewide CDA Hlth. Fac. Rev. (Mem. Hlth. Svcs.),
Ser. 2003 A, 6.00%, due 10/1/16 A3 A 5,414++
500 California Statewide CDA Rev. (East Valley Tourist Dev.
Au.), Ser. 2003 A, 9.25%, due 10/1/20 BB 541
3,000 California Statewide CDA Rev. (Kaiser Permanente), Ser. 2002
E, 4.70%, due 11/1/36 Putable 6/1/09 A3 3,160++
1,000 Central (CA) Joint Pwr. Hlth. Fin. Au. Cert. of
Participation Rev., (Comm. Hosp. of Central California
Proj.), Ser. 2000, 5.50%, due 2/1/14 Baa1 BBB+ 1,034++
1,020 Cerritos (CA) Pub. Fin. Au. Sub. Tax Allocation Rev.
(Cerritos Redev. Proj.), Ser. 2002 B, 4.40%, due 11/1/16 BBB 966
1,000 Cumberland Co. (PA) West Shore Area Au. Hosp. Rev. (Holy
Spirit Hosp. of the Sisters of Christian, Charity Proj.),
Ser. 2001, 6.00%, due 1/1/18 BBB+ 1,047++
500 Dallas-Fort Worth (TX) Int'l Arpt. Fac. Imp. Corp. Rev.,
Ser. 2004 A-1, 6.15%, due 1/1/16 Baa3 BBB- 499++
1,000 De Kalb Co. (GA) Dev. Au. Ref. PCR (General Motors Corp.
Proj.), Ser. 2002, 6.00%, due 3/15/21 A3 BBB 1,021++
1,210 Elk Grove (CA) Spec. Tax Rev. (East Franklin Comm. Fac.
Dist. Number 1), Ser. 2002 A, 5.38%, due 8/1/17 BB+ 1,202
1,270 Los Angeles (CA) Dept. of Wtr. & Pwr. Sys. Rev., Ser. 2001
A, Sub. Ser. A-3, 5.38%, due 7/1/20 Aa3 1,324
750 Miami Beach (FL) Hlth. Fac. Au. Hosp. Ref. Rev. (Mount Sinai
Med. Ctr. of Florida Proj.), Ser. 2004, 6.25%, due 11/15/09 Ba2 BB 750++
1,500 Morehouse Parish (LA) Ref. PCR (Int'l. Paper Co. Proj.),
Ser. 2001 A, 5.25%, due 11/15/13 Baa2 BBB 1,559++
1,405 North Carolina Muni. Pwr. Agcy. Number 1 Catawba Elec. Rev.,
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments California Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($ 000's omitted) Moody's S&P ($000's omitted)
Ser. 2003 A, 5.50%, due 1/1/14 Baa1 BBB+ 1,515
605 Oakland (CA) Redev. Agcy. Rev. (Coliseum Area Redev. Proj.),
Ser. 2003, 5.00%, due 9/1/16 A- 618
635 Oakland (CA) Redev. Agcy. Rev. (Coliseum Area Redev. Proj.),
Ser. 2003, 5.00%, due 9/1/17 A- 647
1,370 Puerto Rico Children's Trust Tobacco Settlement Asset-Backed
Rev., Ser. 2002, 5.38%, due 5/15/33 Baa3 BBB 1,194
440 Roseville (CA) Stone Point Comm. Fac. District No. 1 Special
Tax Rev., Ser. 2003, 5.70%, due 9/1/17 BB+ 436
830 San Diego (CA) Redev. Agcy. Sub. Parking Rev. (Centre City
Redev. Proj.), Ser. 2003 B, 4.80%, due 9/1/15 Baa2 A- 834
820 San Diego (CA) Redev. Agcy. Sub. Parking Rev. (Centre City
Redev. Proj.), Ser. 2003 B, 4.90%, due 9/1/16 Baa2 A- 825
3,000 San Francisco (CA) Bay Area Toll Au. Toll Bridge Rev., Ser.
2001 D, 5.00%, due 4/1/17 Aa3 AA 3,143
1,000 Santa Rosa (CA) Rancheria Tachi Yokut Tribe Enterprise Rev.,
Ser. 2003, 6.13%, due 3/1/13 BBB 994
1,000 South Gate (CA) Pub. Fin. Au. Tax Allocation Rev. (South
Gate Redev. Proj. No. 1), Ser. 2002, 5.00%, due 9/1/16 AAA 1,054
1,250 Tobacco Settlement Fin. Corp. (LA) Tobacco Settlement
Asset-Backed Rev., Ser. 2001 B, 5.50%, due 5/15/30 Baa3 BBB 1,052
600 Univ. of California Regents Cert. of Participation Rev. (San
Diego Campus & Sacramento Proj.), Ser. 2002 A, 5.25%, due 1/1/18 Aa2 631
750 Verrado (AZ) Comm. Fac. Dist. Number 1 G.O., Ser. 2003,
6.15%, due 7/15/17 BB- 751
250 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (Hovensa
Refinery Proj.), Ser. 2003, 6.13%, due 7/1/22 Baa3 BBB- 260
750 Virgin Islands Pub. Fin. Au. Rev. (Virgin Islands Matching
Fund Loan Notes), Ser. 1998 E, 6.00%, due 10/1/22 BBB 759
1,000 Virgin Islands Wtr. & Pwr. Au. Elec. Sys. Ref. Rev., Ser.
1998, 5.30%, due 7/1/18 BBB 1,006
-------
69,252
-------
Tax-Exempt Cash Equivalent Securities (0.2%)
200 California Poll. Ctrl. Fin. Au. PCR Ref. (Exxon Proj.) Rev.,
Ser. 1989, 1.00%, VRDN due 8/2/04 P-1 A-1+ 200++
-------
Tax-Exempt Cash Equivalent Securities-Backed by Insurance (0.8%)
American Municipal Bond Assurance Corp.
200 California Hsg. Fin. Agcy. Home Mtge. Rev., Ser. 2001 R,
1.09%, VRDN due 8/2/04 VMIG1 A-1+ 200
Financial Security Assurance Inc.
600 California Hsg. Fin. Agcy. Home Mtge. Rev., Ser. 2003 U,
1.14%, VRDN due 8/2/04 VMIG1 A-1+ 600
-------
800
-------
Tax-Exempt Cash Equivalent Securities-Backed by Letters of Credit (0.3%)
Bank of America
280 Irvine (CA) Ltd. Oblig. Imp. (Assessment Dist. No 93-14),
Ser. 2000, 1.07%, VRDN due 8/2/04 VMIG1 A-1+ 280
-------
Total Investments (158.7%) (Cost $153,751) 155,086##
Cash, receivables and other assets, less liabilities (1.7%) 1,643
Liquidation Value of Auction Market Preferred Shares [(60.4%)] (59,000)
-------
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments California Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($ 000's omitted) Moody's S&P ($000's omitted)
Total Net Assets applicable to Common
Shareholders (100.0%) 97,729
-------
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments Intermediate Municipal Fund Inc.
Principal Amount Security @ Rating Value+
($000's omitted) Moody's S&P ($000's omitted)
Tax-Exempt Securities-Pre-Refunded Backed by U.S. Government Securities (0.0%)
20 San Antonio (TX) Pre-Refunded Cert. of Obligation G.O., Ser.
2002, 5.00%, due 2/1/14 P/R 2/1/12 Aa2 AA+ 22
-----
Tax-Exempt Securities-Escrowed in U.S. Government Securities (0.6%)
1,670 Illinois Metro. Pier & Exposition Au. Dedicated St. Tax Ref.
Rev., Ser. 1998 A, 5.50%, due 6/15/17 AAA 1,884
-----
Tax-Exempt Securities-Backed by Insurance (75.9%)
American Municipal Bond Assurance Corp.
1,500 California St. Pub. Works Board Lease Rev., Ser. 2002 A,
5.25%, due 12/1/17 AAA 1,610
5,000 Chicago (IL) G.O., Ser. 1995 A-2, 6.25%, due 1/1/13 Aaa AAA 5,856
6,120 Chicago (IL) G.O., Ser. 2002 A, 5.38%, due 1/1/17 Aaa AAA 6,613
4,220 Colorado Springs (CO) Util. Sys. Sub. Lien Ref. Rev., Ser.
2002 A, 5.38%, due 11/15/18 AAA 4,578
4,100 Fargo (ND) Hlth. Sys. Rev. (Meritcare Obligated Group), Ser.
2002 A, 5.63%, due 6/1/17 AAA 4,446++
1,065 Indiana St. Recreational Dev. Comm. Rev., Ser. 2002, 5.25%,
due 7/1/18 AAA 1,131
1,125 Indiana St. Recreational Dev. Comm. Rev., Ser. 2002, 5.25%,
due 7/1/19 AAA 1,191
3,000 Massachusetts Port Au. Spec. Fac. Rev. (Delta Air Lines,
Inc. Proj.), Ser. 2001 A, 5.50%, due 1/1/19 AAA 3,040++
5,010 New Hampshire Hlth. & Ed. Fac. Au. Rev. (Univ. Sys. of New
Hampshire), Ser. 1992, 5.38%, due 7/1/17 AAA 5,407
7,000 Palm Beach Co. (FL) Sch. Board Cert. of Participation, Ser.
2001 B, 5.38%, due 8/1/17 AAA 7,560
4,610 Thornton (CO) Cert. of Participation, Ser. 2002, 5.38%, due
12/1/16 Aaa AAA 5,025
Financial Guaranty Insurance Co.
4,000 Denver (CO) City & Co. Arpt. Sys. Ref. Rev., Ser. 2002 E,
5.25%, due 11/15/14 Aaa AAA 4,234
3,075 Detroit (MI) Sch. Dist. Sch. Bldg. & Site Imp. G.O., Ser.
2002 A, 5.50%, due 5/1/15 AAA 3,396
3,235 Houston (TX) Arpt. Sys. Sub. Lien. Ref. Rev., Ser. 2001 A,
5.50%, due 7/1/16 AAA 3,487
4,355 Las Vegas (NV) Valley Wtr. Dist. Ref. & Wtr. Imp. G.O., Ser.
2003 A, 5.25%, due 6/1/16 Aaa AAA 4,693
4,935 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (New England
Med. Ctr. Hosp.), Ser. 2002 H, 5.38%, due 5/15/16 AAA 5,323++
2,140 Mt. Pleasant Town (SC) Waterworks & Swr. Sys. Ref. & Imp.
Rev., Ser. 2002, 5.25%, due 12/1/17 AAA 2,309
2,080 Oakland (CA) Redev. Agcy. Sub. Tax Allocation Rev. (Central
Dist. Redev. Proj.), Ser. 2003, 5.50%, due 9/1/18 AAA 2,270
8,140 Orange Co. (FL) Sales Tax Ref. Rev., Ser. 2002 A, 5.13%, due
1/1/18 Aaa AAA 8,651
2,000 Philadelphia (PA) Arpt. Ref. Rev. (Philadelphia Arpt. Sys.),
Ser. 1998 A, 5.38%, due 6/15/14 AAA 2,114
6,250 Port of Seattle (WA) Sub Lien Rev., Ser. 2002 B, 5.50%, due
9/1/16 AAA 6,743
5,500 Prince Georges Co. (MD) Cons. Pub. Imp. G.O., Ser. 2001,
5.25%, due 12/1/16 Aaa AAA 5,971
1,000 Sarasota Co. (FL) Util. Sys. Ref. Rev., Ser. 2002 C, 5.25%,
due 10/1/20 Aaa AAA 1,063
2,500 Tacoma (WA) Wtr. Sys. Rev., Ser. 2001, 5.13%, due 12/1/19 AAA 2,629
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($000's omitted) Moody's S&P ($000's omitted)
Financial Security Assurance Inc.
3,495 Bi State (MO-IL) Dev. Agcy. Metro. Dist. Rev. (Metrolink
Cross Co. Extension Proj.), Ser. 2002 B, 5.25%, due 10/1/16 Aaa AAA 3,802
1,100 Charleston Co. (SC) Sch. Dist. G.O., Ser. 2001, 5.00%, due
2/1/18 Aa1 1,153
3,600 Corpus Christi (TX) Tax & Muni. Hotel Occupancy Tax G.O.,
Ser. 2002, 5.50%, due 9/1/17 AAA 3,976
1,935 Dallas-Fort Worth (TX) Int'l. Arpt. Rev., Ser. 2004 B,
5.50%, due 11/1/18 Aaa AAA 2,071
8,800 Energy Northwest (WA) Elec. Ref. Rev. (Proj. No. 3), Ser.
2001 A, 5.50%, due 7/1/17 Aaa AAA 9,530
7,000 Harris Co. (TX) Toll Road Sr. Lien Ref. Rev., Ser. 2002,
5.38%, due 8/15/16 AAA 7,619
2,580 Indianapolis (IN) Local Pub. Imp. Rev. (Indianapolis Arpt.
Au. Proj.), Ser. 2003 A, 5.63%, due 1/1/17 AAA 2,785
2,000 Kane, Cooke, & DuPage Cos. (IL) Elgin Sch. Dist. Number U-46
G.O., Ser. 1998, 5.35%, due 1/1/15 Aaa 2,155
5,000 King & Snohomish Cos. (WA) Northshore Sch. Dist. Number 417
G.O., Ser. 2002, 5.50%, due 12/1/17 Aaa AAA 5,518
4,260 King Co. (WA) Pub. Trans. Sales Tax Ref. G.O., Ser. 2002,
5.38%, due 12/1/14 Aaa AAA 4,714
3,015 Knox Co. (TN) Hlth., Ed., & Hsg. Fac. Board Hosp. Ref. &
Imp. Rev., Ser. 2002 A, 5.50%, due 1/1/18 Aaa AAA 3,246++
1,725 Maine Muni. Bond Bank Rev., Ser. 1998 C, 5.35%, due 11/1/18 AAA 1,872
5,000 New Jersey Bldg. Au. St. Bldg. Ref. Rev., Ser. 2002 B,
5.25%, due 12/15/15 AAA 5,422
4,665 South Carolina St. Pub. Svc. Au. Rev., Ser. 2002 B, 5.38%,
due 1/1/18 Aaa AAA 5,043
4,200 Tarrant (TX) Reg. Wtr. Dist. Wtr. Ref. & Imp. Rev., Ser.
2002, 5.38%, due 3/1/16 Aaa AAA 4,571
5,395 Truckee Meadows (NV) Wtr. Au. Wtr. Rev., Ser. 2001 A, 5.50%,
due 7/1/15 AAA 5,924
1,370 Wisconsin Hlth. & Ed. Fac. Au. Rev. (Aurora Med. Group, Inc.
Proj.), Ser. 1996, 6.00%, due 11/15/11 Aaa AAA 1,564++
Municipal Bond Investors Assurance Corp.
1,465 Arizona St. Energy Mgt. Svcs. (Main) LLC Energy Conservation
Rev. (Arizona St. Univ. Proj.-Main, Campus), Ser. 2002,
5.25%, due 7/1/17 AAA 1,578
3,000 CDP-King Co. III (WA) Lease Rev. (King Street Ctr. Proj.),
Ser. 1997, 5.13%, due 6/1/17 Aaa AAA 3,088
5,335 Clark Co. (NV) Passenger Fac. Charge Ref. Rev. (Las
Vegas-McCarran Int'l. Arpt. Proj.), Ser. 2002 A, 5.25%, due
7/1/10 AAA 5,736
4,575 Henry Co. (GA) Wtr. & Swr. Au. Wtr. & Swr. Ref. Rev., Ser.
2002 A, 5.13%, due 2/1/17 Aaa AAA 4,944
4,955 Houston (TX) Pub. Imp. Ref. G.O., Ser. 2002, 5.25%, due
3/1/17 AAA 5,314
5,000 Illinois G.O., First Ser. 2002, 5.25%, due 10/1/14 Aaa 5,452
3,000 Illinois Hlth. Fac. Au. Rev. (Loyola Univ. Hlth. Sys.), Ser.
1997 A, 6.00%, due 7/1/14 Aaa AAA 3,443++
1,000 Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev., Ser. 2002 B,
5.25%, due 1/1/18 Aaa AAA 1,067
1,850 Massachusetts St. G.O., Ser. 2002 E, 5.38%, due 1/1/18 AAA 2,043
5,000 Michigan St. Hsg. Dev. Au. Single-Family Mtge. Rev., Ser.
2001 A, 5.30%, due 12/1/16 AAA 5,208
2,710 Newnan (GA) Hosp. Au. Rev. Anticipation Certificate (Newnan
Hosp., Inc. Proj.), Ser. 2002, 5.50%, due 1/1/18 Aaa 2,946++
1,910 Southmost (TX) Reg. Wtr. Au. Wtr. Supply Contract Rev.
(Desalination Plant Proj.), Ser. 2002, 5.50%, due 9/1/19 Aaa 2,089
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($000's omitted) Moody's S&P ($000's omitted)
1,000 Trinity (TX) River Au. Imp. & Ref. Rev. (Tarrant Co. Wtr.
Proj.), Ser. 2003, 5.50%, due 2/1/16 AAA 1,098
4,555 Washington St. G.O., Ser. 1998 C, 6.00%, due 7/1/12 AAA 5,258
7,205 Wisconsin St. G.O., Ser. 2002 C, 5.25%, due 5/1/17 Aaa AAA 7,746
-------
227,315
-------
Tax-Exempt Securities-Other (81.4%)
4,145 Anson (TX) Ed. Fac. Corp. Std. Hsg. Rev. (Univ. of Texas at
Dallas-Waterview Park Proj.), Ser. 2002, 5.00%, due 1/1/23 A 3,948++
1,000 Austin (TX) Convention Enterprises, Inc. Convention Ctr.
Hotel First Tier Rev., Ser. 2001 A, 6.38%, due 1/1/16 Baa3 BBB- 1,040
1,645 Badger (WI) Tobacco Asset Securitization Corp. Tobacco
Settlement Asset-Backed Rev., Ser. 2002, 6.13%, due 6/1/27 Baa3 BBB 1,517
2,000 Boone Co. (MO) Hosp. Ref. Rev. (Boone Hosp. Ctr.), Ser.
2002, 5.05%, due 8/1/20 A3 2,021++
2,425 Branson (MO) Dev. Fin. Board Infrastructure Fac. Board Rev.,
Ser. 2003 A, 5.00%, due 12/1/17 Baa1 2,460
3,300 Brazos (TX) River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 A, 6.75%, due 4/1/38 Putable 4/1/13 Baa2 BBB 3,707++
1,000 Brazos (TX) River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 D, 5.40%, due 10/1/29 Putable 10/1/14 Baa2 1,033++
1,000 Brazos (TX) River Au. Ref. Rev. (Reliant Energy, Inc.
Proj.), Ser. 1999 B, 7.75%, due 12/1/18 Ba1 BBB- 1,089++
4,000 Brazos (TX) River Harbor Navigation Dist. Env. Fac. Rev.
(Dow Chemical Co. Proj.), Ser. 2002 B-2, 4.75%, due 5/15/33
Putable 5/15/07 A3 A 4,164++
2,500 Broward Co. (FL) G.O., Ser. 2001 A, 5.25%, due 1/1/18 Aa1 2,667
5,000 Burke Co. (GA) Dev. Au. PCR (Georgia Pwr. Co. Plant Vogtle
Proj.), Ser. 2001, 4.45%, due 1/1/32 A2 A 5,218++
3,500 California Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev.
(Republic Svc., Inc. Proj.), Ser. 2002 B, 5.25%, due 6/1/23 Baa3 BBB 3,577++
2,500 California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser.
2002 A, 5.75%, due 5/1/17 A3 BBB+ 2,758
3,460 California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser.
2002 A, 5.38%, due 5/1/22 A3 BBB+ 3,611
1,240 California Statewide CDA Hlth. Fac. Rev. (Mem. Hlth. Svcs.),
Ser. 2003 A, 6.00%, due 10/1/16 A3 A 1,343++
1,500 California Statewide CDA Rev. (East Valley Tourist Dev.
Au.), Ser. 2003 A, 9.25%, due 10/1/20 1,624^^
1,500 Chicago (IL) Metro. Wtr. Reclamation Dist. Cap. Imp. G.O.,
Ser. 2002 C, 5.38%, due 12/1/16 AAA 1,635
1,000 Clark Co. (WA) Vancouver Sch. Dist. Number 37 G.O., Ser.
1998, 5.13%, due 12/1/12 A3 1,096
1,765 Cumberland Co. (PA) West Shore Area Au. Hosp. Rev., (Holy
Spirit Hosp. of the Sisters of Christian Charity Proj.),
Ser. 2001, 6.05%, due 1/1/19 BBB+ 1,843++
2,100 Dallas-Fort Worth (TX) Int'l. Arpt. Fac. Imp. Corp. Rev.,
Ser. 2004 A-1, 6.15%, due 1/1/16 Baa3 BBB- 2,095++
4,210 DCH Hlth. Care Au. (AL) Hlth. Care Fac. Rev., Ser. 2002,
5.25%, due 6/1/14 A1 A+ 4,402
1,000 Delaware River (PA-NJ) Joint Toll Bridge Comm. Sys. Rev.,
Ser. 2003, 5.25%, due 7/1/18 A2 A- 1,058
1,000 Denton, Tarrant, & Wise Cos. (TX) Northwest Ind. Sch. Dist.
Unlimited Sch. Bldg. & Ref. G.O., Ser. 2002, 5.50%, due
8/15/17 AAA 1,094
2,000 Denver (CO) City & Co. Arpt. Sys. Rev., Ser. 1991 D, 7.75%,
due 11/15/13 AAA 2,433
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($000's omitted) Moody's S&P ($000's omitted)
4,495 Dist. of Columbia (Washington, D.C.) Ref. G.O., Ser. 2002 C,
5.25%, due 6/1/13 AAA 4,856
1,750 Ector Co. (TX) Hosp. Dist. Hosp. Rev., Ser. 2002 A, 5.63%,
due 4/15/16 A2 A- 1,800
1,745 Ector Co. (TX) Hosp. Dist. Hosp. Rev., Ser. 2002 A, 5.63%,
due 4/15/17 A2 A- 1,791
3,000 Fiddlers Creek (FL) Comm. Dev. Dist. Number 2 Spec.
Assessment Rev., Ser. 2003 A, 6.00%, due 5/1/16 BB- 3,022
825 Fort Bend Co. (TX) Ind. Dev. Corp. Ref. PCR (Frito-Lay, Inc.
Proj.), Ser. 1987, 3.00%, due 10/1/11 A1 837++
2,000 Freeborn Co. (MN) Hsg. & Redev. Au. Lease Rev. (Criminal
Justice Ctr. Proj.), Ser. 2002, 5.38%, due 2/1/17 Baa1 2,057
3,000 Golden St. (CA) Tobacco Securitization Corp. Tobacco
Settlement Asset-Backed Rev., Ser. 2003 A-1, 6.25%, due
6/1/33 Baa3 BBB 2,716
5,130 Illinois Ed. Fac. Au. Rev. (Field Museum of Natural
History), Ser. 2002, 4.30%, due 11/1/36 A2 A 5,092++
3,560 Indiana Bond Bank Rev., Ser. 2002 B, 5.25%, due 2/1/18 Baa2 A- 3,814
10,000 Indiana Bond Bank Rev. (St. Revolving Fund Prog.), Ser. 2001
A, 5.38%, due 2/1/17 AAA 10,941
2,050 Indiana St. Hlth. Fac. Fin. Au. Rev. (Hlth. Sys. Sisters of
St. Francis), Ser. 2001, 5.35%, due 11/1/15 Aa3 A 2,160++
1,070 Ingham & Clinton Cos. (MI) East Lansing Bldg. Au. Ref. G.O.,
Ser. 1999, 5.25%, due 10/1/16 AA 1,153
3,000 Iowa Tobacco Settlement Au. Tobacco Settlement Asset-Backed
Rev., Ser. 2001 B, 5.30%, due 6/1/25 Baa3 BBB 2,417
2,000 Jasper (IN) Hosp. Au. Hosp. Fac. Ref. Rev. (Mem. Hosp. &
Hlth. Care Ctr. Proj.), Ser. 2002, 5.50%, due 11/1/17 AA 2,128++
1,050 Kent Co. (MI) Forest Hills Pub. Sch. Unlimited G.O., Ser.
2000, 5.25%, due 5/1/19 Aa2 1,119
2,000 Lehigh Co. (PA) Gen. Purp. Au. Rev. (KidsPeace Oblig.
Group), Ser. 1998, 6.00%, due 11/1/23 Ba2 1,724++
2,000 Lubbock (TX) Hlth. Fac. Dev. Corp. Rev. (St. Joseph Hlth.
Sys.), Ser. 1998, 5.25%, due 7/1/16 Aa3 AA- 2,065++
1,310 Lyons (NY) Comm. Hlth. Initiatives Corp. Fac. Rev., Ser.
2004, 5.50%, due 9/1/14 A2 1,394
1,375 Macomb Co. (MI) New Haven Comm. Sch. Bldg. & Site G.O., Ser.
2002, 5.25%, due 5/1/17 Aa1 AA+ 1,478
1,000 Martin Co. (NC) Ind. Fac. & Poll. Ctrl. Fin. Au. Solid Waste
Disp. Rev. (Weyerhaeuser Co. Proj.), Ser. 1994, 6.80%, due
5/1/24 Baa2 BBB 1,024++
1,000 Maryland St. Hlth. & Higher Ed. Fac. Au. Rev. (Union Hosp.
of Cecil Co.), Ser. 2002, 5.50%, due 7/1/14 A3 1,075++
2,400 Mashantucket (CT) Western Pequot Tribe Spec. Rev., Sub. Ser.
1997 B, 5.70%, due 9/1/12 Baa3 2,550**
2,450 Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (Caritas Christi
Oblig. Group), Ser. 1999 A, 5.70%, due 7/1/15 A+ 2,483++
2,810 Massachusetts St. Hlth. & Ed. Fac. Au. Rev.
(Milford-Whitinsville Reg. Hosp.), Ser. 1998 C, 5.75%, due
7/15/13 Baa2 BBB 2,816++
5,000 Massachusetts St. Wtr. Poll. Abatement Trust Rev., Ser.
2001-7, 5.25%, due 2/1/16 AAA 5,399
5,030 Massachusetts St. Wtr. Poll. Abatement Trust Rev. (MWRA
Prog.), Ser. 2002 A, 5.25%, due 8/1/19 Aaa AAA 5,387
3,085 Memphis-Shelby Co. (TN) Arpt. Au. Spec. Fac. Ref. Rev.
(Federal Express Corp.), Ser. 2002, 5.05%, due 9/1/12 Baa2 BBB 3,223++
1,750 Miami Beach (FL) Hlth. Fac. Au. Hosp. Ref. Rev. (Mount Sinai
Med. Ctr. Florida Proj.), Ser. 2004, 6.25%, due 11/15/09 Ba2 BB 1,749++
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($000's omitted) Moody's S&P ($000's omitted)
1,500 Michigan St. Bldg. Au. Rev. (Fac. Prog.), Ser. 2001 II,
5.50%, due 10/15/18 Aa1 AA+ 1,647
2,735 Michigan Strategic Fund Solid Waste Disp. Ltd. Oblig. Ref.
Rev. (Waste Mgt. Inc. Proj.), Ser. 2002, 4.20%, due 12/1/12 BBB 2,783++
2,000 Missouri St. Env. Imp. & Energy Res. Au. Wtr. Poll. Ctrl. &
Drinking Wtr. Rev., Ser. 2002 B, 5.50%, due 7/1/16 AAA 2,211
1,115 Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev., Ser.
2001 II, 5.25%, due 12/1/16 AA 1,166
775 Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev., Ser.
2001 III, 5.05%, due 2/1/15 AA 813
5,000 Montgomery Co. (PA) Higher Ed. & Hlth. Au. Hosp. Rev.
(Abington Mem. Hosp. Proj.), Ser. 2002 A, 5.00%, due 6/1/19 A 5,048++
3,000 Moraine (OH) Solid Waste Disp. Rev. (General Motors Corp.
Proj.), Ser. 1994, 6.75%, due 7/1/14 A3 BBB 3,366++
2,500 Morehouse Parish (LA) Ref. PCR (Int'l. Paper Co. Proj.),
Ser. 2001 A, 5.25%, due 11/15/13 Baa2 BBB 2,598++
2,000 Nevada St. Cap. Imp. Ltd. G.O., Ser. 1998 B, 5.13%, due
4/15/17 Aa2 2,120
6,900 New Jersey Ed. Fac. Au. Rev. (Stevens Institute of
Technology), Ser. 2002 C, 5.25%, due 7/1/17 Baa1 A- 7,189++
4,000 New Jersey Hlth. Care Fac. Fin. Au. Rev. (Somerset Med.
Ctr.
Issue), Ser. 2003, 5.50%, due 7/1/18 Baa2 4,073++
3,250 New York City (NY) G.O., Ser. 2002 C, 5.50%, due 8/1/15 A2 3,518
2,580 New York City (NY) IDA Civic Fac. Rev. (Lycee Francais de
New York Proj.), Ser. 2002 A, 5.50%, due 6/1/14 A 2,698++
1,000 New York Convention Ctr. Operating Corp. Cert. of
Participation (Yale Bldg. Acquisition Proj.), Ser. 2003,
5.25%, due 6/1/08 BB+ 1,026
3,500 New York St. Dorm. Au. Personal Income Tax Rev., Ser. 2003
A, 5.38%, due 3/15/20 AA 3,771
1,000 New York St. Dorm. Au. Rev. (Mount Sinai NYU Hlth. Oblig.
Group), Ser. 2000 C, 6.00%, due 7/1/26 Baa3 1,004++
1,300 New York St. Urban Dev. Corp. Ref. Rev. (Correctional Cap.
Fac.), Ser. 1998, 5.00%, due 1/1/14 A3 AA- 1,358
4,780 North Central (TX) Hlth. Fac. Dev. Corp. Hosp. Ref. Rev.
(Baylor Hlth. Care Sys. Proj.), Ser. 1998, 5.10%, due
5/15/13 Aa3 AA- 4,989++
3,760 Ohio Air Quality Dev. Au. Env. Imp. Ref. Rev. (USX Corp.
Proj.), Ser. 1995, 5.00%, due 11/1/15 Baa1 4,012++
2,085 Palm Beach Co. (FL) Hlth. Fac. Au. Hosp. Ref. Rev. (BRCH
Corp. Oblig. Group), Ser. 2001, 5.00%, due 12/1/12 A+ 2,174++
3,850 Royal Oak (MI) Hosp. Fin. Au. Hosp. Ref. Rev. (William
Beaumont Hosp.), Ser. 1996 I, 6.25%, due 1/1/12 Aa3 AA- 4,399++
6,795 San Antonio (TX) Ind. Sch. Dist. Unlimited Tax G.O., Ser.
2001 B, 5.38%, due 8/15/17 Aaa AAA 7,377
1,240 San Antonio (TX) Unrefunded Balance Cert. of Obligation
G.O., Ser. 2002, 5.00%, due 2/1/14 Aa2 AA+ 1,322
740 San Diego (CA) Redev. Agcy. Sub. Parking Rev. (Centre City
Redev. Proj.), Ser. 2003 B, 5.00%, due 9/1/17 Baa2 A- 747
2,000 Sayre (PA) Hlth. Care Fac. Au. Rev. (Guthrie Hlth. Proj.),
Ser. 2002 A, 5.75%, due 12/1/21 A- 2,055++
1,625 Skagit Co. (WA) Pub. Hosp. Dist. Ref. Rev., Ser. 2003,
6.00%, due 12/1/18 Baa3 1,646
2,345 South Carolina Jobs Econ. Dev. Au. Hosp. Ref. Rev.
(Palmetto
Hlth. Alliance), Ser. 2003 A, 6.00%, due 8/1/13 Baa2 BBB 2,492++
2,000 South Carolina Jobs Econ. Dev. Au. Hosp. Ref. Rev.
(Palmetto
Hlth. Alliance), Ser. 2003 A, 6.13%, due 8/1/23 Baa2 BBB 2,056++
155 Spokane Co. (WA) Ltd. Tax G.O., Ser. 1998, 5.10%, due
12/1/17 Aa3 164
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
($000's omitted) Moody's S&P ($000's omitted)
900 St. Louis (MO) IDA Rev. (St. Louis Convention Ctr.
Headquarters Hotel Proj.), Ser. 2000 A, 7.00%, due 12/15/15 Baa3 828++
2,540 St. Paul (MN) Port Au. Lease Rev. (Office Bldg. at Cedar
Street), Ser. 2002, 5.00%, due 12/1/17 Aa1 2,682
500 Texas Std. Hsg. Corp. Std. Hsg. Rev. (Midwestern St. Univ.
Proj.), Ser. 2002, 5.50%, due 9/1/12 Baa3 512
1,000 Tobacco Settlement Fin. Corp. (LA) Tobacco Settlement
Asset-Backed Rev., Ser. 2001 B, 5.50%, due 5/15/30 Baa3 BBB 842
1,085 Tyler (TX) Hlth. Fac. Dev. Corp. Hosp. Rev. (Mother Frances
Hosp. Reg. Hlth. Care Ctr. Proj.), Ser. 2003, 5.25%, due
7/1/13 Baa1 1,118
3,500 Union Co. (SC) IDR (Federal Paper Board Co., Inc. Proj.),
Ser. 1989, 4.55%, due 11/1/09 Baa2 BBB 3,570++
2,950 Univ. of Texas Board of Regents Fin. Sys. Rev., Ser. 1999 B,
5.38%, due 8/15/18 AAA 3,268
1,900 Univ. of Wisconsin Hosp. & Clinics Au. Hosp. Rev., Ser. 2002
B, 5.50%, due 4/1/12 A1 2,034
1,750 Verrado (AZ) Comm. Fac. Dist. Number 1 G.O., Ser. 2003,
6.15%, due 7/15/17 BB- 1,754
1,000 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (Hovensa
Refinery Proj.), Ser. 2003, 6.13%, due 7/1/22 Baa3 BBB- 1,039
1,500 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (Hovensa
Refinery Proj.), Ser. 2004, 5.88%, due 7/1/22 Baa3 BBB- 1,534++
3,125 Washington St. Hlth. Care Fac. Au. Rev. (Yakima Valley Mem.
Hosp. Assoc.), Ser. 2002, 5.00%, due 12/1/17 A 3,092++
1,000 Washington St. Var. Purp. G.O., Ser. 1999 A, 4.75%, due
7/1/17 Aa1 AA+ 1,019
2,000 Westmoreland Co. (PA) IDA Gtd. Rev. (National Waste & Energy
Corp., Valley Landfill Expansion Proj.), Ser. 1993, 5.10%,
due 5/1/18 BBB 2,066++
2,780 Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Kenosha Hosp. &
Med. Ctr., Inc. Proj.), Ser. 1999, 5.50%, due 5/15/15 A 2,871++
--------
243,754
--------
Tax-Exempt Cash Equivalent Securities-Backed by Letters of Credit (0.3%)
Societe Generale
800 Los Angeles (CA) Reg. Arpt. Imp. Corp. Term. Fac. Completion
Rev. (Los Angeles Int'l. Arpt.), Ser. 1989, 1.14%, VRDN due
8/2/04 A-1+ 800
--------
Tax-Exempt Cash Equivalent Securities-Backed by Insurance (0.2%)
Municipal Bond Investors Assurance Corp.
100 California Hsg. Fin. Agcy. Home Mtge. Rev., Ser. 2002 J,
1.14%, VRDN due 8/2/04 VMIG1 A-1+ 100
690 Lehigh Co. (PA) Gen. Purp. Au. Hosp. Rev. (Lehigh Valley
Hlth.), Ser. 1999 B, 1.08%, VRDN due 8/2/04 VMIG1 690++
--------
790
--------
Total Investments (158.4%) (Cost $468,724) 474,565##
Cash, receivables and other assets, less liabilities (1.5%) 4,347
Liquidation Value of Auction Market Preferred Shares (179,400)
[(59.9%)]
--------
Total Net Assets applicable to Common
Shareholders (100.0%) 299,512
--------
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments New York Intermediate Municipal Fund Inc.
Principal Amount Security @ Rating Value+
$(000's omitted) Moody's S&P $(000's omitted)
Tax-Exempt Securities-Backed by Insurance (34.7%)
American Capital Access
1,060 Puerto Rico Ind ., Tourist, Ed., Med., & Env. Ctrl. Fac.
Rev., (Polytechnic Univ. of Puerto Rico Proj.), Ser. 2002 A,
5.25%, due 8/1/16 A 1,077++
American Municipal Bond Assurance Corp.
2,000 Metro. Trans. Au. (NY) Ref. Rev., Ser. 2002 A, 5.50%, due
11/15/15 AAA 2,213
2,920 New York City (NY) IDA Civic Fac. Rev. (Packer Collegiate
Institute Proj.), Ser. 2002, 5.00%, due 6/1/22 Aaa AAA 3,006++
960 New York City (NY) Muni. Wtr. Fin. Au. Wtr. & Swr. Sys.
Rev., Ser. 1992 A, 5.88%, due 6/15/13 Aaa 1,107
2,025 New York City (NY) Trans. Fin. Au. Ref. Rev., Ser. 2002 C,
5.25%, due 8/1/17 AAA 2,177
2,410 New York St. Dorm. Au. Rev. (Rochester Institute of
Technology Proj.), Ser. 2002 A, 5.25%, due 7/1/19 Aaa 2,574++
3,000 Port Authority of NY & NJ Rev., Ser. 2002, 5.50%, due
12/15/12 AAA 3,296
1,535 Ulster Co. (NY) Res. Rec. Agcy. Solid Waste Sys. Ref. Rev.,
Ser. 2002, 5.25%, due 3/1/16 AAA 1,645
Financial Guaranty Insurance Co.
2,505 Metro. Trans. Au. (NY) Dedicated Tax Fund Rev., Ser. 2001 A,
5.25%, due 11/15/14 AAA 2,734
Financial Security Assurance Inc.
500 Long Island (NY) Pwr. Au. Elec. Sys. Rev., Ser. 1998 A,
5.13%, due 12/1/16 Aaa AAA 535
1,410 New York City (NY) Hlth. & Hosp. Corp. Rev., Ser. 2002 A,
5.50%, due 2/15/13 AAA 1,565
Municipal Bond Investors Assurance Corp.
2,000 New York St. Dorm. Au. Insured Rev. (Long Island Jewish Med.
Ctr.), Ser. 1998, 5.00%, due 7/1/18 AAA 2,052++
1,600 New York St. Dorm. Au. Insured Rev. (The Culinary Institute
of America), Ser. 1999, 5.38%, due 7/1/15 AAA 1,743++
1,980 New York St. Dorm. Au. Rev. (New York Med. College Proj.),
Ser. 1998, 5.00%, due 7/1/21 Aaa AAA 2,037++
---------
27,761
---------
Tax-Exempt Securities-Other (123.4%)
3,000 Albany (NY) IDA Civic Fac. Rev., (Charitable Leadership
Foundation Ctr. for Med. Science Proj.), Ser. 2002 A, 6.00%,
due 7/1/19 Baa3 3,163
800 Brazos (TX) River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 A, 6.75%, due 4/1/38 Putable 4/1/13 Baa2 BBB 899
750 Brazos (TX) River Au. Ref. Rev. (Reliant Energy, Inc.
Proj.), Ser. 1999 B, 7.75%, due 12/1/18 Ba1 BBB- 817++
1,000 Brazos (TX) River Harbor Navigation Dist. of Brazoria Co.
Env. Fac. Rev. (Dow Chemical Co. Proj.), Ser. 2002 A-4,
5.20%, due 5/15/33 Putable 5/15/08 A3 A 1,053++
1,590 Cumberland Co. (PA) West Shore Area Au. Hosp. Rev., (Holy
Spirit Hosp. of the Sisters of Christian Charity Proj.),
Ser. 2001, 5.90%, due 1/1/17 BBB+ 1,663++
400 Dallas-Fort Worth (T X) In t'l. Arpt. Fac. Imp. Corp. Rev.,
Ser. 2004 A-1, 6.15%, due 1/1/16 Baa3 BBB- 399++
1,000 De Kalb Co. (GA) Dev. Au. Ref. PCR (General Motors Corp.
Proj.), Ser. 2002, 6.00%, due 3/15/21 A3 BBB 1,021++
1,000 Dutchess Co. (NY) IDA Civic Fac. Ref. Rev. (Marist College
Proj.), Ser. 2003 A, 5.15%, due 7/1/17 Baa1 1,035++
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments New York Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
$(000's omitted) Moody's S&P $(000's omitted)
2,000 Dutchess Co. (NY) IDA Ind. Dev. Rev. (IBM Proj.), Ser. 1999,
5.45%, due 12/1/29 A1 A+ 2,167++
2,000 Long Island Pwr. Au. (NY) Elec. Sys. Gen. Rev., Ser. 1998 A,
5.50%, due 12/1/13 Aaa AAA 2,281
1,500 Lyons (NY) Comm. Hlth. Initiatives Corp. Fac. Rev., Ser.
2004, 5.50%, due 9/1/14 A2 1,596
500 Miami Beach (FL) Hlth. Fac. Au. Hosp. Ref. Rev. (Mount Sinai
Med. Ctr. of Florida Proj.), Ser. 2004, 6.25%, due 11/15/09 Ba2 BB 500++
980 Monroe Co. (NY) IDA Std. Hsg. Rev., (Collegiate Hsg.
Foundation - Rochester Institute of Technology Proj.), Ser.
1999 A, 5.25%, due 4/1/19 Baa3 969++
1,000 Monroe Co. (NY) Newpower Corp. Pwr. Fac. Rev., Ser. 2003,
5.10%, due 1/1/16 BBB+ 1,022
1,000 Monroe Co. (NY) Pub. Imp. Ref. G.O., Ser. 1996, 6.00%, due
3/1/13 A3 AA- 1,147
1,000 Morehouse Parish (LA) Ref. PCR (Int'l. Paper Co. Proj.),
Ser. 2001 A, 5.25%, due 11/15/13 Baa2 BBB 1,039++
1,000 New York City (NY) G.O., Ser. 1998 J, 5.00%, due 8/1/11 A2 A 1,050
1,000 New York City (NY) G.O., Ser. 2002 A, 5.75%, due 8/1/16 A2 A 1,093
750 New York City (NY) G.O., Ser. 2002 C, 5.50%, due 8/1/15 A2 812
4,000 New York City (NY) Hsg. Dev. Corp. Multi-Family Hsg. Rev.,
Ser. 2002 E-2, 5.05%, due 11/1/23 Aa2 AA 4,033
1,000 New York City (NY) IDA (Brooklyn Navy Yard Cogeneration
Partners) IDR, Ser. 1997, 6.20%, due 10/1/22 Ba1 BBB- 977
1,000 New York City (NY) IDA Civic Fac. Rev. (Lycee Francais de
New York Proj.), Ser. 2002 A, 5.50%, due 6/1/15 A 1,039++
1,030 New York City (NY) IDA Civic Fac. Rev. (Lycee Francais de
New York Proj.), Ser. 2002 A, 5.50%, due 6/1/17 A 1,061++
500 New York City (NY) IDA Ind. Dev. Rev. (Harlem Auto Mall
Proj.), Ser. 2004, 5.13%, due 12/30/23 Baa1 BBB 482++
4,000 New York City (NY) Muni. Wtr. Fin. Au. Wtr. & Swr. Sys.
Rev., Ser. 2002 D, 5.25%, due 6/15/15 Aa2 AA 4,315
3,000 New York City (NY) Trans. Fin. Au. Ref. Rev., Ser. 2002 B,
5.25%, due 2/1/29 Aa2 3,245
800 New York Convention Ctr. Operating Corp. Cert. of
Participation (Yale Bldg. Acquisition Proj.), Ser. 2003,
5.25%, due 6/1/08 Aa1 821
2,000 New York St. Dorm. Au. Court Fac. Lease Rev. (New York City
Issue), Ser. 2003 A, 5.50%, due 5/15/17 A3 A 2,160
1,675 New York St. Dorm. Au. Insured Rev. (Long Island Univ.),
Ser. 2003 A, 5.25%, due 9/1/15 AA 1,796++
3,000 New York St. Dorm. Au. Ref. Rev. (North Gen. Hosp. Proj.),
Ser. 2003, 5.75%, due 2/15/17 AA- 3,308++
1,125 New York St. Dorm. Au. Rev. (City Univ. Sys. Proj.), Ser.
1995 A, 5.63%, due 7/1/16 A3 AA- 1,265
1,010 New York St. Dorm. Au. Rev. (Columbia Univ. Proj.), Ser.
2001 A, 5.25%, due 7/1/16 AAA 1,097++
2,985 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/14 A3 3,240++
2,000 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/16 A3 A- 2,141++
2,500 New York St. Dorm. Au. Rev. (Mount Sinai NYU Hlth. Oblig.
Group), Ser. 2000 B, 6.25%, due 7/1/22 Baa3 2,516++
525 New York St. Dorm. Au. Rev. (New York Methodist Hosp.), Ser.
2004, 5.25%, due 7/1/18 A3 545
500 New York St. Dorm. Au. Rev. (North Shore-Long Island Jewish
Oblig. Group), Ser. 2003, 5.00%, due 5/1/18 A3 506++
2,855 New York St. Dorm. Au. Rev. (Rivington House Hlth. Care
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments New York Intermediate Municipal Fund Inc. cont'd
Principal Amount Security @ Rating Value+
$(000's omitted) Moody's S&P $(000's omitted)
Fac.), Ser. 2002, 5.25%, due 11/1/15 Aa1 3,058++
3,000 New York St. Dorm. Au. Rev. (SS Joachim & Anne Residence
Proj.), Ser. 2002, 4.60%, due 7/1/16 Aa3 3,009
250 New York St. Dorm. Au. Secured Hosp. Ref. Rev. (Brookdale
Hosp. Med. Ctr.), Ser. 1998 J, 5.20%, due 2/15/16 A3 AA- 261++
5,500 New York St. Dorm. Au. St. Personal Income Tax Rev., Ser.
2003 A, 5.38%, due 3/15/17 AA 5,980
1,000 New York St. Dorm. Au. Third Gen. Resolution Rev. (St. Univ.
Ed. Fac. Issue Proj.), Ser. 2002 B, 5.25%, due 11/15/23 A3 AA- 1,082
5,000 New York St. Energy Res. & Dev. Au. Fac. Rev. (Consolidated
Edison Co. of New York, Inc. Proj.), Ser. 2001 A, 4.70%, due
6/1/36 A1 A+ 5,029++
1,000 New York St. Env. Fac. Corp. Solid Waste Disp. Rev. (Waste
Management, Inc. Proj.), Ser 2004 A, 4.45%, due 7/1/17
Putable 7/1/09 BBB 1,010
2,000 New York St. Mtge. Agcy. Homeowner Mtge. Rev., Ser. 1997-67,
5.70%, due 10/1/17 Aa1 2,086
2,000 New York St. Pwr. Au. Rev., Ser. 2002 A, 5.25%, due 11/15/16 Aa2 AA- 2,166
500 New York St. Urban Dev. Corp. Correctional & Youth Fac. Svc.
Rev., Ser. 2002 C, 4.00%, due 1/1/20 AA- 503
1,325 New York St. Urban Dev. Corp. Proj. Ref. Rev. (Ctr. for Ind.
Innovation), Ser. 1995, 6.25%, due 1/1/09 A3 AA- 1,493
2,000 Niagara Co. (NY) IDA Civic Fac. Rev. (Niagara Univ. Proj.),
Ser. 2001 A, 5.50%, due 11/1/16 AA 2,146++
2,500 Niagara Co. (NY) IDA Solid Waste Disp. Fac. Ref. Rev.
(American Ref.-Fuel Co. of Niagara), Ser. 2001 C, 5.63%, due
11/15/24 Baa1 BBB 2,613
945 Puerto Rico Children's Trust Tobacco Settlement Asset-Backed
Rev., Ser. 2002, 5.38%, due 5/15/33 Baa3 BBB 824
1,000 Santa Rosa (CA) Rancheria Tachi Yokut Tribe Enterprise Rev.,
Ser. 2003, 6.13%, due 3/1/13 BBB 994
1,000 Tobacco Settlement Fin. Corp. (LA) Tobacco Settlement
Asset-Backed Rev., Ser. 2001 B, 5.50%, due 5/15/30 Baa3 BBB 842
3,000 Triborough Bridge & Tunnel Au. (NY) Gen. Purp. Ref. Rev.,
Ser. 2002 B, 5.25%, due 11/15/18 Aa3 AA- 3,212
500 United Nations (NY) Dev. Corp. Sr. Lien Ref. Rev., Ser. 2004
A, 5.25%, due 7/1/17 A3 523
500 Verrado (AZ) Comm. Fac. Dist. Number 1 G.O., Ser. 2003,
6.15%, due 7/15/17 BB- 501
250 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (Hovensa
Refinery Proj.), Ser. 2003, 6.13%, due 7/1/22 Baa3 BBB- 260
750 Virgin Islands Pub. Fin. Au. Rev. (Sub. Lien/Cap. Proj.),
Ser. 1998 E, 6.00%, due 10/1/22 BBB 759
1,000 Westchester Co. (NY) IDA Continuing Care Retirement Comm.
Rev. (Kendal on Hudson Proj.), Ser. 2003 B, 5.70%, due
1/1/34 BB 993++
1,000 Yonkers (NY) IDA Civic Fac. Rev. (Comm. Dev. Properties -
Yonkers, Inc.), Ser. 2001 A, 6.25%, due 2/1/16 Baa3 BBB- 1,073++
----------
98,690
----------
Tax-Exempt Cash Equivalent Securities-Backed by Letters of Credit (0.8%)
Morgan Guaranty Trust Co.
600 New York City (NY) G.O., Sub. Ser. 1993 E-2, 1.08%, VRDN due
8/2/04 VMIG1 A1+ 600
----------
Total Investments (158.9%) (Cost $125,766) 127,051##
----------
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Schedule of Investments New York Intermediate Municipal Fund Inc. cont'd
Security @ Value+
$(000's omitted)
Cash, receivables and other assets, less liabilities (1.4%) 1,175
Liquidation Value of Auction Market Preferred Shares [(60.3%)] (48,250)
----------
Total Net Assets Applicable to Common
Shareholders (100.0%) 79,976
----------
See Notes to Schedule of Investments
NEUBERGER BERMAN JULY 31, 2004 (UNAUDITED)
Notes to Schedule of Investments
--------------------------------
+ Investments in securities by Neuberger Berman California Intermediate
Municipal Fund Inc. ("California"), Neuberger Berman Intermediate
Municipal Fund Inc. ("Intermediate"), or Neuberger Berman New York
Intermediate Municipal Fund Inc. ("New York") (individually a "Fund",
collectively, the "Funds") are valued daily by obtaining bid price
quotations from independent pricing services on all securities available
in each service's data base. For all other securities requiring daily
quotations, bid prices are obtained from principal market makers in those
securities or, if quotations are not available, by a method the Board of
Directors of California, Intermediate, or New York (each a "Board"),
believes accurately reflects fair value. Numerous factors may be
considered when determining the fair value of a security, including
available analyst, media or other reports, trading in futures or ADRs and
whether the issuer of the security being fair valued has other securities
outstanding. Short-term debt securities with less than 60 days until
maturity may be valued at cost which, when combined with interest earned,
approximates market value.
## At July 31, 2004, selected Fund information on a U.S. Federal income tax
basis was as follows:
Gross
(000's omitted) Gross Unrealized Unrealized Net Unrealized
Neuberger Berman Cost Appreciation Depreciation Appreciation
California Intermediate Municipal Fund Inc. $153,751 $1,992 $ 657 $1,335
Intermediate Municipal Fund Inc. 468,724 7,548 1,707 5,841
New York Intermediate Municipal Fund Inc. 125,766 1,655 370 1,285
@ Municipal securities held by the Funds are within the four highest rating
categories (with respect to at least 80% of total assets) assigned by a
nationally recognized statistical rating organization ("NRSRO") such as
Moody's Investors Service, Inc., Standard & Poor's, or Fitch Investors
Services, Inc. or, where not rated, are determined by the Funds'
investment manager to be of comparable quality. Approximately 79%, 74%,
and 54% of the municipal securities held by California, Intermediate, and
New York, respectively, have credit enhancement features backing them,
which the Funds may rely on, such as letters of credit, insurance, or
guarantees. Without these credit enhancement features the securities may
or may not meet the quality standards of the Funds. Pre-refunded bonds
are supported by securities in escrow issued or guaranteed by the U.S.
Government, its agencies, or instrumentalities. The amount escrowed is
sufficient to pay the periodic interest due and the principal of these
bonds. Putable bonds give the Funds the right to sell back the issue on
the date specified.
++ Security is guaranteed by the corporate or non-profit obligor.
** Security exempt from registration under the Securities Act of 1933. These
securities may be resold in transactions exempt from registration,
normally to qualified institutional buyers under Rule 144A and are deemed
liquid. At July 31, 2004, these securities amounted to $2,550,000 or 0.9%
of net assets for Intermediate.
^^ Not rated by a nationally recognized statistical rating organization.
ITEM 2. CONTROLS AND PROCEDURES.
(a) Based on an evaluation of the disclosure controls and procedures (as
defined in rule 30a-3(c) under the Act) as of a date within 90 days of
the filing date of this document, the Chief Executive Officer and
Treasurer and Principal Financial and Accounting Officer of the
Registrant have concluded that such disclosure controls and procedures
are effectively designed to ensure that information required to be
disclosed by the Registrant is accumulated and communicated to the
Registrant's management to allow timely decisions regarding required
disclosure.
(b) There were no significant changes in the Registrant's internal controls
over financial reporting (as defined in rule 30a-3(d) under the 1940 Act)
that occurred during the Registrant's last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the
Registrant's internal control over financial reporting.
ITEM 3. EXHIBITS
The certifications required by Rule 30a-2(a) of the 1940 Act are attached
hereto.
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.
Neuberger Berman California Intermediate Municipal Fund, Inc.
By: /s/ Peter E. Sundman
----------------------------
Name: Peter E. Sundman
Title: Chief Executive Officer
Date: September 28, 2004
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: /s/ Peter E. Sundman
----------------------------
Name: Peter E. Sundman
Title: Chief Executive Officer
Date: September 28, 2004
By: /s/ Barbara Muinos
----------------------------
Name: Barbara Muinos
Title: Treasurer and Principal Financial
and Accounting Officer
Date: September 28, 2004