As filed with the Securities and Exchange Commission on September 29, 2017
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM N-Q
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number: 811-21168
 
NEUBERGER BERMAN INTERMEDIATE MUNICIPAL FUND INC.
(Exact Name of Registrant as Specified in Charter)
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
New York, New York 10104-0002
(Address of Principal Executive Offices – Zip Code)
 
Registrant's telephone number, including area code: (212) 476-8800
 
Robert Conti, Chief Executive Officer and President
Neuberger Berman Intermediate Municipal Fund Inc.
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
New York, New York 10104-0002

Arthur C. Delibert, Esq.
K&L Gates LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and Addresses of Agents for Service)
 
Date of fiscal year end:  October 31
 
Date of reporting period:  July 31, 2017
 
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 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 the Secretary, Securities and Exchange Commission, 100 F Street, NE, 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.
 
Schedule of Investments Intermediate Municipal Fund Inc.
(Unaudited) July 31, 2017


Principal Amount
   
Value
   
(000's omitted)
   
(000's omitted)
   
           
Municipal Notes 159.8%
 
   
Alabama 0.7%
 
 
$
1,900
 
Selma IDB Rev. (Int'l Paper Co. Proj.), Ser. 2011-A, 5.38%, due 12/1/35
$
2,117
   
                 
American Samoa 0.6%
 
   
1,700
 
American Samoa Econ. Dev. Au. Gen. Rev. Ref., Ser. 2015-A, 6.25%, due 9/1/29
 
1,700
   
Arizona 4.8%
 
   
5,000
 
Arizona Sch. Fac. Board Cert. of Participation, Ser. 2008, (Assured Guaranty Insured), 5.13%, due 9/1/21 Pre-Refunded 9/1/18
 
5,224
   
   
500
 
Maricopa Co. Ind. Dev. Au. Ed. Ref. Rev. (Paradise Sch. Proj. Paragon Management, Inc.), Ser. 2016, 5.00%, due 7/1/36
 
514
(a)
 
   
1,500
 
Maricopa Co. Ind. Dev. Au. Sr. Living Facs. Rev. (Christian Care Surprise, Inc. Proj.), Ser. 2016, 5.00%, due 1/1/26
 
1,493
(a)(b)
 
   
2,250
 
Navajo Nation Ref. Rev., Ser. 2015-A, 5.00%, due 12/1/25
 
2,444
(a)
 
   
3,000
 
Phoenix Ind. Dev. Au. Ed. Rev. (Great Hearts Academies Proj.), Ser. 2014, 3.75%, due 7/1/24
 
3,123
   
   
400
 
Phoenix Ind. Dev. Au. Rev. (Deer Valley Veterans Assisted Living  Proj.), Ser. 2016-A, 5.13%, due 7/1/36
 
371
   
   
1,500
 
Phoenix Ind. Dev. Au. Solid Waste Disp. Rev. (Vieste Spec. LLC), Ser. 2013-A, 4.38%, due 4/1/28
 
379
(b)(c)
 
   
400
 
Phoenix-Mesa Gateway Arpt. Au. Spec. Fac. Rev. (Mesa Proj.), Ser. 2012, 5.00%, due 7/1/24
 
458
   
 
14,006
   
California 33.6%
 
   
2,250
 
California Hlth. Facs. Fin. Au. Rev. (Cedars-Sinai Med. Ctr.), Ser. 2009, 5.00%, due 8/15/39 Pre-Refunded 8/15/19
 
2,431
   
   
1,000
 
California Hlth. Facs. Fin. Au. Rev. (Children's Hosp. Los Angeles), Ser. 2012-A, 5.00%, due 11/15/26
 
1,128
   
   
1,725
 
California Infrastructure & Econ. Dev. Bank St. Sch. Fund Rev. (King City Joint Union High Sch.), Ser. 2010, 5.13%, due 8/15/24
 
1,897
   
       
California Muni. Fin. Au. Charter Sch. Lease Rev. (Sycamore Academy Proj.)
       
   
805
 
Ser. 2014, 5.00%, due 7/1/24
 
825
(a)(b)
 
   
630
 
Ser. 2014, 5.13%, due 7/1/29
 
630
(a)(b)
 
       
California Muni. Fin. Au. Charter Sch. Lease Rev. (Vista Charter Middle Sch. Proj.)
       
   
970
 
Ser. 2014, 5.00%, due 7/1/24
 
1,018
(b)
 
   
430
 
Ser. 2014, 5.13%, due 7/1/29
 
441
(b)
 
   
500
 
California Muni. Fin. Au. Charter Sch. Rev. (Palmdale Aerospace Academy Proj.), Ser. 2016, 5.00%, due 7/1/31
 
517
(a)
 
   
570
 
California Muni. Fin. Au. Rev. (Baptist Univ.), Ser. 2015-A, 5.00%, due 11/1/30
 
609
(a)
 
   
585
 
California Muni. Fin. Au. Rev. (Touro College & Univ. Sys. Obligated Group), Ser. 2014-A, 4.00%, due 1/1/26
 
626
   
   
1,300
 
California Sch. Fac. Fin. Au. Rev. (Alliance College - Ready Pub. Sch. Proj.), Ser. 2015-A, 5.00%, due 7/1/30
 
1,432
(a)
 
       
California St. Dept. of  Veterans Affairs Home Purchase Ref. Rev.
       
   
2,155
 
Ser. 2016-A, 2.90%, due 6/1/28
 
2,138
   
   
2,450
 
Ser. 2016-A, 2.95%, due 12/1/28
 
2,423
   
   
50
 
California St. G.O., Ser. 2007, (XLCA Insured), 4.50%, due 8/1/27
 
50
   
   
500
 
California St. Infrastructure & Econ. Dev. Bank Rev. (Goodwill Industries of Sacramento Valley & No. Proj.), Ser. 2016-A, 5.00%, due 1/1/36
 
507
(a)
 
   
500
 
California St. Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev. (Aemerage Redak Svcs. So. California LLC Proj.), Ser. 2016, 7.00%, due 12/1/27
 
496
(a)(b)
 
   
5,000
 
California St. Poll. Ctrl. Fin. Au. Wtr. Furnishing Rev., Ser. 2012, 5.00%, due 7/1/27
 
5,490
(a)
 
   
4,000
 
California St. Var. Purp. G.O., Ser. 2009, 5.63%, due 4/1/25
 
4,310
(d)
 
 
 
625
 
California Statewide CDA Rev. (California Baptist Univ. Proj.), Ser. 2007-A, 5.30%, due 11/1/18
 
642
   
   
1,000
 
California Statewide CDA Spec. Tax Rev. Ref. (Comm. Facs. Dist. Number 2007-01 Orinda Wilder Proj.), Ser. 2015, 4.25%, due 9/1/21
 
1,081
   
   
2,000
 
Emery Unified Sch. Dist. G.O. (Election 2010), Ser. 2011-A, 6.50%, due 8/1/33 Pre-Refunded 8/1/21
 
2,417
   
   
2,000
 
Golden St. Tobacco Securitization Corp. Tobacco Settlement Asset-Backed Rev., Ser. 2007-A-1, 5.75%, due 6/1/47
 
2,000
   
   
2,000
 
Imperial Comm. College Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, (AGM Insured), 6.75%, due 8/1/40
 
2,605
   
       
Inglewood Pub. Fin. Au. Ref. Rev. (Lease)
       
   
1,250
 
Ser. 2012, 5.00%, due 8/1/17
 
1,250
   
   
1,115
 
Ser. 2012, 5.00%, due 8/1/18
 
1,157
   
   
590
 
La Verne Cert. of Participation Ref. (Brethren Hillcrest Homes), Ser. 2014, 5.00%, due 5/15/29
 
637
   
   
2,250
 
Los Angeles Reg. Arpt. Imp. Corp. Lease Rev. Ref. (Laxfuel Corp.), Ser. 2012, 4.50%, due 1/1/27
 
2,478
   
   
3,620
 
Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 2005-B, (AGM Insured), 0.00%, due 8/1/24
 
3,130
   
   
5,750
 
Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation (Election 2002), Ser. 2009-E, (Assured Guaranty Insured), 0.00%, due 8/1/29
 
5,988
(e)
 
   
5,000
 
Redondo Beach Unified Sch. Dist. G.O., Ser. 2009, 6.38%, due 8/1/34
 
6,551
   
   
1,230
 
Rocklin Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 1994-B, (National Public Finance Guarantee Corp. Insured), 0.00%, due 8/1/19
 
1,164
   
   
4,000
 
Sacramento City Fin. Au. Ref. Rev. (Master Lease Prog. Facs.), Ser. 2006-E, (AMBAC Insured), 5.25%, due 12/1/26
 
5,019
   
   
2,000
 
San Bernardino Comm. College Dist. G.O. Cap. Appreciation (Election), Ser. 2009-B, 0.00%, due 8/1/34
 
2,336
(f)
 
   
740
 
San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 5.00%, due 9/1/17
 
742
   
   
2,000
 
San Francisco City & Co. Arpt. Commission Int'l Arpt. Ref. Rev., Ser. 2009-C2, 5.00%, due 5/1/25
 
2,138
   
   
6,000
 
San Mateo Foster City Sch. Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2010-A, 0.00%, due 8/1/32
 
5,751
(g)
 
   
1,540
 
Successor Agcy. to the Monrovia Redev. Agcy. Tax Allocation Rev. (Cent. Redev. Proj.), Ser. 2013, 5.00%, due 8/1/26
 
1,758
   
   
2,040
 
Sweetwater Union High Sch. Dist. Pub. Fin. Au. Rev., Ser. 2013, (BAM Insured), 5.00%, due 9/1/25
 
2,397
   
       
Vernon Elec. Sys. Rev.
       
   
635
 
Ser. 2009-A, 5.13%, due 8/1/21 Pre-Refunded 8/1/19
 
679
   
   
1,470
 
Ser. 2009-A, 5.13%, due 8/1/21
 
1,550
   
   
9,070
 
Victor Valley Comm. College Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2009-C, 0.00%, due 8/1/37
 
11,318
(h)
 
   
5,095
 
Victor Valley Joint Union High Sch. Dist. G.O. Cap. Appreciation Bonds, Ser. 2009, (Assured Guaranty Insured), 0.00%, due 8/1/26
 
4,033
   
   
3,000
 
Wiseburn Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-B, (AGM Insured), 0.00%, due 8/1/36
 
2,567
(i)
 
 
98,356
   
Colorado 3.8%
 
       
Colorado Ed. & Cultural Facs. Au. Rev. (Charter Sch.- Atlas Preparatory Sch. Proj.)
       
   
500
 
Ser. 2015, 4.50%, due 4/1/25
 
511
(a)
 
   
1,000
 
Ser. 2015, 5.13%, due 4/1/35
 
1,018
(a)
 
       
Colorado Ed. & Cultural Facs. Au. Rev. Ref.
       
   
385
 
Ser. 2014, 4.00%, due 11/1/24
 
392
(b)
 
   
750
 
Ser. 2014, 4.50%, due 11/1/29
 
751
(b)
 
   
5,000
 
Denver City & Co. Arpt. Sys. Rev., Ser. 2011-B, 5.00%, due 11/15/24
 
5,691
   
 
 
2,550
 
Plaza Metro. Dist. Number 1 Tax Allocation Rev., Ser. 2013, 4.00%, due 12/1/23
 
2,662
(a)
 
 
11,025
   
Connecticut 0.3%
 
   
750
 
Hamden G.O., Ser. 2013, (AGM Insured), 3.13%, due 8/15/25
 
781
   
                 
District of Columbia 3.2%
 
   
1,615
 
Dist. of Columbia HFA Rev. (Capitol Hill Towers Proj.), Ser. 2011, (Fannie Mae Insured), 4.10%, due 12/1/26
 
1,692
   
   
3,035
 
Dist. of Columbia Rev. (Friendship Pub. Charter Sch.), Ser. 2012, 3.55%, due 6/1/22
 
3,127
   
   
520
 
Dist. of Columbia Rev. (Howard Univ.), Ser. 2011-A, 6.25%, due 10/1/23
 
552
   
   
700
 
Dist. of Columbia Std. Dorm. Rev. (Provident Group-Howard Prop.), Ser. 2013, 5.00%, due 10/1/45
 
678
   
       
Metro. Washington Dist. of Columbia Arpt. Au. Sys. Rev.
       
   
1,000
 
Ser. 2008-A, 5.50%, due 10/1/18
 
1,051
   
   
2,000
 
Ser. 2011-C, 5.00%, due 10/1/26
 
2,263
   
 
9,363
   
Florida 6.5%
 
   
1,600
 
Cap. Trust Agcy. Rev. (Tuscan Garden Palm Coast Proj.), Ser. 2017-A, 7.00%, due 10/1/49
 
1,548
(a)(b)
 
   
1,000
 
Cityplace Comm. Dev. Dist. Spec. Assessment Rev. Ref., Ser. 2012, 5.00%, due 5/1/26
 
1,136
   
   
1,075
 
Florida Dev. Fin. Corp. Ed. Facs. Rev. (Pepin Academies, Inc.), Ser. 2016-A, 5.00%, due 7/1/36
 
1,040
   
       
Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.)
       
   
1,000
 
Ser. 2012-A, 5.50%, due 6/15/22
 
1,071
   
   
3,120
 
Ser. 2013-A, 6.75%, due 12/15/27
 
3,295
   
   
1,750
 
Ser. 2014-A, 5.75%, due 6/15/29
 
1,803
   
   
500
 
Florida Dev. Fin. Corp. Sr. Living Rev. (Tuscan Isle Champions Gate Proj.), Ser. 2016-A, 6.00%, due 6/1/30
 
482
(a)(b)
 
   
1,075
 
Florida Dev. Fin. Corp. Sr. Living Rev. (Tuscan Isle Obligated Group), Ser. 2015-A, 7.00%, due 6/1/45
 
831
(a)
 
   
100
 
Greater Orlando Aviation Au. Arpt. Facs. Ref. Rev. (JetBlue Airways Corp. Proj.), Ser. 2013, 5.00%, due 11/15/36
 
105
   
   
1,000
 
Hillsborough Co. Ind. Dev. Au. IDR (Hlth. Facs.), Ser. 2008-B, 8.00%, due 8/15/32 Pre-Refunded 8/15/19
 
1,148
   
   
1,135
 
Lakeland Ed. Facs. Rev. Ref. (Florida So. College Proj.), Ser. 2012-A, 5.00%, due 9/1/27
 
1,290
   
   
2,000
 
Lee Co. Arpt. Ref. Rev., Ser. 2011-A, 5.63%, due 10/1/25
 
2,306
   
   
2,000
 
Martin Co. Ind. Dev. Au. Ref. Rev. (Indiantown Cogeneration Proj.), Ser. 2013, 4.20%, due 12/15/25
 
2,062
(a)
 
   
980
 
Village Comm. Dev. Dist. Number 11 Spec. Assessment Rev., Ser. 2014, 4.13%, due 5/1/29
 
998
   
 
19,115
   
Georgia 0.9%
 
   
1,750
 
Cobb Co. Dev. Au. Sr. Living Ref. Rev. (Provident Village Creekside Proj.), Ser. 2016-A, 6.00%, due 7/1/36
 
1,663
(a)(b)
 
   
1,100
 
Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25
 
1,115
(a)(b)
 
 
2,778
   
Guam 1.7%
 
       
Guam Gov't Hotel Occupancy Tax Rev.
       
   
1,220
 
Ser. 2011-A, 5.75%, due 11/1/20
 
1,362
   
   
650
 
Ser. 2011-A, 5.75%, due 11/1/21
 
738
   
   
2,630
 
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25
 
2,860
   
 
4,960
   
Hawaii 2.7%
 
 
 
5,200
 
Hawaii St. Arpt. Sys. Ref. Rev., Ser. 2011, 4.13%, due 7/1/24
 
5,683
   
   
2,000
 
Hawaii St. Dept. of Budget & Fin. Spec. Purp. Rev. (Hawaii Elec. Co., Inc. -Subsidiary), Ser. 2009, 6.50%, due 7/1/39
 
2,179
   
 
7,862
   
Illinois 20.9%
 
   
5,705
 
Berwyn G.O., Ser. 2013-A, 5.00%, due 12/1/27
 
6,366
(d)
 
       
Chicago G.O.
       
   
250
 
Ser. 2002-2002B, 5.13%, due 1/1/27
 
261
   
   
2,000
 
Ser. 2002-B, 5.00%, due 1/1/25
 
2,112
   
   
2,000
 
Ser. 2009-C, 5.00%, due 1/1/27
 
2,018
   
       
Chicago Ref. G.O.
       
   
1,000
 
Ser. 2005-D, 5.50%, due 1/1/40
 
1,021
   
   
2,500
 
Ser. 2012-C, 5.00%, due 1/1/24
 
2,602
   
   
700
 
Ser. 2014-A, 5.00%, due 1/1/27
 
723
   
   
3,000
 
Ser. 2017-A, 6.00%, due 1/1/38
 
3,184
   
       
Cook Co. Sch. Dist. Number 83 G.O. (Mannheim)
       
   
1,350
 
Ser. 2013-C, 5.45%, due 12/1/30
 
1,474
   
   
1,960
 
Ser. 2013-C, 5.50%, due 12/1/31
 
2,136
   
   
1,970
 
Cook Co. Township High Sch. Dist. Number 225 Northfield Township, Ser. 2008, 5.00%, due 12/1/25
 
2,035
   
   
1,560
 
Illinois Fin. Au. Ref. Rev. (Presence Hlth. Network Obligated Group), Ser. 2016-C, 5.00%, due 2/15/31
 
1,708
   
   
4,000
 
Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.75%, due 4/1/24
 
4,288
   
   
3,340
 
Illinois Fin. Au. Rev. (Provena Hlth.), Ser. 2010-A, 6.25%, due 5/1/22 Pre-Refunded 5/1/20
 
3,791
   
   
1,905
 
Illinois Sports Facs. Au. Cap. Appreciation Rev. (St. Tax Supported), Ser. 2001, (AMBAC Insured), 0.00%, due 6/15/26
 
1,327
   
       
Illinois St. G.O.
       
   
2,900
 
Ser. 2009-A, 5.00%, due 9/1/29
 
2,943
   
   
3,900
 
Ser. 2012, 4.00%, due 8/1/25
 
3,985
   
   
1,000
 
Ser. 2013, 5.00%, due 7/1/23
 
1,098
   
   
4,250
 
Illinois St. G.O. Ref., Ser. 2016, 5.00%, due 2/1/24
 
4,680
   
   
1,600
 
Pingree Grove Village Rev. (Cambridge Lakes Learning Ctr. Proj.), Ser. 2011, 8.00%, due 6/1/26
 
1,762
   
       
So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.)
       
   
945
 
Ser. 2014-A-1, (BAM Insured), 5.00%, due 2/15/27
 
1,044
   
   
1,375
 
Ser. 2014-A-1, (BAM Insured), 5.00%, due 2/15/28
 
1,506
   
   
715
 
Ser. 2014-A-1, (BAM Insured), 5.00%, due 2/15/29
 
779
   
       
Univ. of Illinois (Hlth. Svc. Facs. Sys.)
       
   
2,725
 
Ser. 2013, 5.00%, due 10/1/27
 
3,015
   
   
2,875
 
Ser. 2013, 5.75%, due 10/1/28
 
3,308
   
   
1,850
 
Will Co. High Sch. Dist. Number 204 G.O. (Joliet Jr. College), Ser. 2011-A, 6.25%, due 1/1/31
 
2,126
   
 
61,292
   
Indiana 3.2%
 
   
4,000
 
Indiana Bond Bank Rev. (Spec. Prog. Clark Mem. Hosp.), Ser. 2009-D, 5.50%, due 8/1/29 Pre-Refunded 2/1/19
 
4,265
   
   
500
 
Indiana Fin. Au. Midwestern Disaster Relief Rev. (Ohio Valley Elec. Corp. Proj.), Ser. 2012-A, 5.00%, due 6/1/32
 
507
   
   
3,055
 
Indiana Trans. Fin. Au. Hwy. Ref. Rev., Ser. 2004-B, (National Public Finance Guarantee Corp. Insured), 5.75%, due 12/1/21
 
3,644
   
   
845
 
Valparaiso Exempt Facs. Rev. (Pratt Paper LLC Proj.), Ser. 2013, 5.88%, due 1/1/24
 
958
   
 
9,374
   
Iowa 2.6%
 
 
 
5,110
 
Iowa Fin. Au. Rev. (St. Revolving Fund Prog.), Ser. 2008, 5.50%, due 8/1/22 Pre-Refunded 8/1/18
 
5,340
   
       
Iowa Std. Loan Liquidity Corp. Rev.
       
   
1,755
 
Ser. 2011-A-1, 5.00%, due 12/1/21
 
1,884
   
   
505
 
Ser. 2011-A-1, 5.30%, due 12/1/23
 
545
   
 
7,769
   
Kentucky 0.9%
 
   
2,585
 
Kentucky Econ. Dev. Fin. Au. Hlth. Care Ref. Rev. (Baptist Life Comm. Proj.), Ser. 2016-A, 5.50%, due 11/15/27
 
2,618
   
   
150
 
Ohio Co. PCR Ref. (Big Rivers Elec. Corp. Proj.), Ser. 2010-A, 6.00%, due 7/15/31
 
153
   
 
2,771
   
Louisiana 2.1%
 
   
1,500
 
Louisiana Local Gov't Env. Fac. & Comm. (Westlake Chemical Corp.), Ser. 2010-A2, 6.50%, due 11/1/35
 
1,709
   
   
1,715
 
Louisiana Local Govt. Env. Facs. & Comm. Dev. Au. Rev. Ref. (Westside Habilitation Ctr. Proj.), Ser. 2017-A, 5.75%, due 2/1/32
 
1,728
(a)
 
   
775
 
Louisiana Pub. Facs. Au. Rev. (Southwest Louisiana Charter Academy Foundation Proj.), Ser. 2013-A, 7.63%, due 12/15/28
 
862
   
   
1,655
 
St. Charles Parish Gulf Zone Opportunity Rev. (Valero Energy Corp.), Ser. 2010, 4.00%, due 12/1/40 Putable 6/1/22
 
1,779
(j)
 
 
6,078
   
Maryland 0.8%
 
   
2,325
 
Prince Georges Co. Hsg. Au. Multi-Family Rev. (Bristol Pines Apts. Proj.), Ser. 2005, (Fannie Mae Insured), 4.85%, due 12/15/38 Putable 12/15/23
 
2,344
(j)
 
   
Massachusetts 4.8%
 
       
Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.)
       
   
200
 
Ser. 2014-F, 5.00%, due 7/15/24
 
221
   
   
415
 
Ser. 2014-F, 5.00%, due 7/15/25
 
455
   
   
200
 
Ser. 2014-F, 5.00%, due 7/15/26
 
218
   
   
190
 
Ser. 2014-F, 5.00%, due 7/15/27
 
206
   
   
150
 
Ser. 2014-F, 5.00%, due 7/15/28
 
162
   
       
Massachusetts St. Ed. Fin. Au. Rev.
       
   
1,745
 
Ser. 2011-J, 5.00%, due 7/1/23
 
1,926
   
   
2,455
 
Ser. 2012-J, 4.70%, due 7/1/26
 
2,641
   
   
3,410
 
Ser. 2013-K, 4.50%, due 7/1/24
 
3,729
   
   
3,370
 
Massachusetts St. HFA Hsg. Rev., Ser. 2010-C, 4.90%, due 12/1/25
 
3,612
   
   
795
 
Massachusetts St. Wtr. Poll. Abatement Trust Rev. (MWRA Prog.), Ser. 2002-A, 5.25%, due 8/1/19
 
797
   
 
13,967
   
Michigan 1.9%
 
       
Jackson College Dormitories Hsg. Rev.
       
   
1,000
 
Ser. 2015, 6.50%, due 5/1/35
 
1,072
   
   
500
 
Ser. 2015, 6.75%, due 5/1/46
 
539
   
       
Michigan St. Hsg. Dev. Au. Rev.
       
   
1,935
 
Ser. 2016-C, 2.05%, due 12/1/22
 
1,941
   
   
1,835
 
Ser. 2016-C, 2.15%, due 6/1/23
 
1,841
   
   
100
 
Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.38%, due 11/1/35
 
100
   
 
5,493
   
Minnesota 0.8%
 
   
2,250
 
Minneapolis & St. Paul Hsg. & Redev. Au. Hlth. Care Sys. (Children's Hlth. Care Facs.), Ser. 2010-A1, (AGM Insured), 4.50%, due 8/15/24
 
2,437
   
                 
Mississippi 1.1%
 
 
 
2,960
 
Mississippi Bus. Fin. Corp. Gulf Opportunity Zone Rev., Ser. 2009-A, 4.70%, due 5/1/24
 
3,125
   
   
Missouri 0.8%
 
       
Missouri St. Hlth. & Ed. Facs. Au. Rev. (Children's Mercy Hosp.)
       
   
1,885
 
Ser. 2009, 5.13%, due 5/15/24 Pre-Refunded 5/15/19
 
2,020
   
   
390
 
Ser. 2009, 5.13%, due 5/15/24
 
417
   
 
2,437
   
Nevada 2.1%
 
       
Director of the St. of Nevada Dept. of Bus. & Ind. Rev. (Somerset Academy)
       
   
1,800
 
Ser. 2015-A, 4.00%, due 12/15/25
 
1,797
(a)
 
   
500
 
Ser. 2015-A, 5.13%, due 12/15/45
 
505
(a)
 
   
3,545
 
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23 Pre-Refunded 6/15/19
 
3,969
   
 
6,271
   
New Hampshire 0.5%
 
   
1,500
 
New Hampshire St. Bus. Fin. Au. Solid Waste Disp. Rev. (Casella Waste Sys., Inc.), Ser. 2013, 4.00%, due 4/1/29 Putable 10/1/19
 
1,487
(a)(j)
 
   
New Jersey 5.1%
 
   
2,500
 
New Jersey Econ. Dev. Au. Rev. (Continental Airlines, Inc., Proj.), Ser. 1999, 5.13%, due 9/15/23
 
2,714
   
       
New Jersey Econ. Dev. Au. Rev. (The Goethals Bridge Replacement Proj.)
       
   
500
 
Ser. 2013, 5.25%, due 1/1/25
 
583
   
   
500
 
Ser. 2013, 5.50%, due 1/1/26
 
588
   
       
New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group)
       
   
1,420
 
Ser. 2013, 3.50%, due 7/1/24
 
1,463
   
   
1,470
 
Ser. 2013, 3.63%, due 7/1/25
 
1,512
   
   
1,520
 
Ser. 2013, 3.75%, due 7/1/26
 
1,563
   
   
765
 
Ser. 2013, 4.00%, due 7/1/27
 
792
   
   
180
 
New Jersey Econ. Dev. Au. Rev. Ref. (Sch. Facs. Construction), Ser. 2005-K, (AMBAC Insured), 5.25%, due 12/15/20
 
195
   
   
4,080
 
New Jersey Higher Ed. Assist. Au. Rev. (Std. Loan Rev.), Ser. 2012-1A, 4.38%, due 12/1/26
 
4,384
   
   
1,000
 
New Jersey Trans. Trust Fund Au. (Federal Hwy. Reimbursement Notes), Ser. 2016-A-2, 5.00%, due 6/15/21
 
1,029
   
 
14,823
   
New Mexico 0.5%
 
       
Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. (Gross Receipts Tax Increment Bond)
       
   
500
 
Ser. 2015, 5.25%, due 5/1/25
 
500
(a)(b)
 
   
1,000
 
Ser. 2015, 5.75%, due 5/1/30
 
1,000
(a)(b)
 
 
1,500
   
New York 11.6%
 
   
625
 
Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Orchard Park), Ser. 2015, 5.00%, due 11/15/29
 
688
   
       
Build NYC Res. Corp. Rev.
       
   
1,100
 
Ser. 2014, 5.00%, due 11/1/24
 
1,162
   
   
835
 
Ser. 2014, 5.25%, due 11/1/29
 
860
   
       
Build NYC Res. Corp. Rev. (South Bronx Charter Sch. for Int'l Cultures and the Arts)
       
   
500
 
Ser. 2013-A, 3.88%, due 4/15/23
 
508
   
   
1,450
 
Ser. 2013-A, 5.00%, due 4/15/43
 
1,459
   
   
1,000
 
Build NYC Res. Corp. Solid Waste Disp. Ref. Rev. (Pratt Paper, Inc. Proj.), Ser. 2014, 4.50%, due 1/1/25
 
1,051
(a)
 
       
Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.)
       
 
 
700
 
Ser. 2014, 5.00%, due 7/1/23
 
811
   
   
735
 
Ser. 2014, 5.00%, due 7/1/24
 
862
   
   
1,400
 
Jefferson Co. IDA Solid Waste Disp. Rev. (Green Bond), Ser. 2014, 5.25%, due 1/1/24
 
1,246
(a)
 
   
1,000
 
MTA Hudson Rail Yards Trust Oblig. Rev., Ser. 2016-A, 5.00%, due 11/15/46
 
1,074
   
   
500
 
New York Liberty Dev. Corp. Ref. Rev. (3 World Trade Ctr. Proj.), Ser. 2014-2, 5.38%, due 11/15/40
 
554
(a)
 
   
4,000
 
New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), Ser. 2009, 5.25%, due 7/1/33 Pre-Refunded 7/1/19
 
4,321
   
   
3,200
 
New York St. Dorm. Au. Rev. Non St. Supported Debt (Univ. Facs.), Ser. 2013-A, 5.00%, due 7/1/28
 
3,749
   
   
2,000
 
New York St. HFA Rev. (Affordable Hsg.), Ser. 2009-B, 4.85%, due 11/1/41
 
2,055
   
   
2,000
 
New York St. Mtge. Agcy. Homeowner Mtge. Ref. Rev., Ser. 2014-189, 3.45%, due 4/1/27
 
2,087
   
   
2,000
 
New York St. Urban Dev. Corp. Rev., Ser. 2008-D, 5.25%, due 1/1/20
 
2,118
   
   
710
 
Newburgh G.O., Ser. 2012-A, 5.00%, due 6/15/20
 
776
   
       
Newburgh G.O. (Deficit Liquidation)
       
   
495
 
Ser. 2012-B, 5.00%, due 6/15/20
 
541
   
   
520
 
Ser. 2012-B, 5.00%, due 6/15/21
 
582
   
   
550
 
Ser. 2012-B, 5.00%, due 6/15/22
 
627
   
   
1,435
 
Niagara Area Dev. Corp. Rev. (Niagara Univ. Proj.), Ser. 2012-A, 5.00%, due 5/1/23
 
1,632
   
   
1,000
 
Niagara Area Dev. Corp. Solid Waste Disp. Fac. Rev. (Covanta Energy Proj.), Ser. 2012-B, 4.00%, due 11/1/24
 
1,002
(a)
 
   
1,155
 
Suffolk Co. Judicial Facs. Agcy. Lease Rev. (H. Lee Dennison Bldg.), Ser. 2013, 4.25%, due 11/1/26
 
1,251
   
   
2,000
 
Utility Debt Securitization Au. Rev., Ser. 2013-TE, 5.00%, due 12/15/28
 
2,378
   
   
600
 
Westchester Co. Local Dev. Corp. Rev. Ref. (Wartburg Sr. Hsg. Proj.), Ser. 2015-A, 5.00%, due 6/1/30
 
598
(a)
 
 
33,992
   
North Carolina 3.7%
 
   
1,835
 
North Carolina Med. Care Commission Hlth. Care Facs. Rev. (Lutheran Svc. For Aging, Inc.), Ser. 2012-A, 4.25%, due 3/1/24
 
1,955
   
   
2,000
 
North Carolina Med. Care Commission Retirement Facs. Rev., Ser. 2013, 5.13%, due 7/1/23
 
2,164
   
       
North Carolina Muni. Pwr. Agcy. Number 1 Catawba Elec. Ref. Rev.
       
   
3,740
 
Ser. 2009-A, 5.00%, due 1/1/26 Pre-Refunded 1/1/19
 
3,952
   
   
1,510
 
Ser. 2009-A, 5.00%, due 1/1/26
 
1,593
   
   
1,000
 
Oak Island Enterprise Sys. Rev., Ser. 2009, (Assured Guaranty Insured), 5.63%, due 6/1/24 Pre-Refunded 6/1/19
 
1,082
   
 
10,746
   
Ohio 3.6%
 
   
8,875
 
Buckeye Tobacco Settlement Fin. Au. Asset-Backed Sr. Rev. (Turbo), Ser. 2007-A-2, 5.88%, due 6/1/47
 
8,326
   
   
2,060
 
Cleveland Arpt. Sys. Rev. Ref., Ser. 2012-A, 5.00%, due 1/1/27
 
2,304
   
 
10,630
   
Oklahoma 0.3%
 
       
Tulsa Arpt. Imp. Trust Ref. Rev.
       
   
250
 
Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/24
 
295
   
   
400
 
Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/25
 
467
   
 
762
   
Oregon 0.2%
 
   
480
 
Oregon St. Hsg. & Comm. Svc. Dept. Multi-Family Rev., Ser. 2012-B, (FHA Insured), 3.50%, due 7/1/27
 
490
   
   
Pennsylvania 5.6%
 
       
Indiana Co. Ind. Dev. Au. Rev. (Std. Cooperative Assoc., Inc.)
       
 
 
500
 
Ser. 2012, 3.50%, due 5/1/25
 
529
   
   
350
 
Ser. 2012, 3.60%, due 5/1/26
 
370
   
   
2,830
 
Lancaster Co. Hosp. Au. Ref. Rev. (Hlth. Centre-Landis Homes Retirement Comm. Proj.), Ser. 2015-A, 4.25%, due 7/1/30
 
2,935
   
   
1,250
 
Lancaster Ind. Dev. Au. Rev. (Garden Spot Village Proj.), Ser. 2013, 5.38%, due 5/1/28
 
1,417
   
   
1,105
 
Moon Ind. Dev. Au. Rev. Ref. (Baptist Homes Society Obligated Group), Ser. 2015, 5.63%, due 7/1/30
 
1,153
   
   
3,430
 
Norristown Area Sch. Dist. Cert. of Participation (Installment Purchase), Ser. 2012, 4.50%, due 4/1/27
 
3,628
   
   
2,625
 
Pennsylvania Econ. Dev. Fin. Au. Exempt Facs. Rev. Ref. (Amtrak Proj.), Ser. 2012-A, 5.00%, due 11/1/24
 
3,007
   
       
Pennsylvania St. Turnpike Commission Rev.
       
   
150
 
Subser. 2010-B2, 6.00%, due 12/1/34 Pre-Refunded 12/1/20
 
173
   
   
705
 
Subser. 2010-B2, 6.00%, due 12/1/34 Pre-Refunded 12/1/20
 
816
   
   
145
 
Subser. 2010-B2, 6.00%, due 12/1/34 Pre-Refunded 12/1/20
 
168
   
   
2,000
 
Susquehanna Area Reg. Arpt. Au. Sys. Rev., Ser. 2012-A, 5.00%, due 1/1/27
 
2,186
   
 
16,382
   
Puerto Rico 0.7%
 
   
2,020
 
Puerto Rico Commonwealth Ref. G.O. (Pub. Imp.), Ser. 2001-A, (National Public Finance Guarantee Corp. Insured), 5.50%, due 7/1/20
 
2,151
(d)
 
   
Tennessee 1.9%
 
   
535
 
Bristol IDB Sales Tax Rev., Ser. 2016-B, 0.00%, due 12/1/22
 
424
(a)
 
   
2,705
 
Memphis-Shelby Co. Arpt. Au. Arpt. Rev., Ser. 2010-B, 5.50%, due 7/1/19
 
2,907
   
   
2,000
 
Tennessee St. Energy Acquisition Corp. Gas Rev. (Goldman Sachs Group, Inc.), Ser. 2006-A, 5.25%, due 9/1/23
 
2,343
   
 
5,674
   
Texas 7.7%
 
   
250
 
Anson Ed. Facs. Corp. Ed. Rev. (Arlington Classics Academy), Ser. 2016-A, 5.00%, due 8/15/45
 
251
   
       
Arlington Higher Ed. Fin. Corp. Rev. (Universal Academy)
       
   
500
 
Ser. 2014-A, 5.88%, due 3/1/24
 
512
   
   
1,000
 
Ser. 2014-A, 6.63%, due 3/1/29
 
1,024
   
   
910
 
Clifton Higher Ed. Fin. Corp. Rev. (Uplift Ed.), Ser. 2013-A, 3.10%, due 12/1/22
 
927
   
   
250
 
Dallas Co. Flood Ctrl. Dist. Ref. G.O., Ser. 2015, 5.00%, due 4/1/28
 
267
(a)
 
   
2,000
 
Fort Bend Co. Ind. Dev. Corp. Rev. (NRG Energy, Inc.), Ser. 2012-B, 4.75%, due 11/1/42
 
2,042
   
   
500
 
Gulf Coast Ind. Dev. Au. Rev. (CITGO Petroleum Proj.), Ser. 1995, 4.88%, due 5/1/25
 
523
   
   
1,000
 
Harris Co. Cultural Ed. Facs. Fin. Corp. Rev. (Brazos Presbyterian Homes, Inc. Proj.), Ser. 2013-B, 5.75%, due 1/1/28
 
1,146
   
   
2,900
 
Harris Co. Toll Road Sr. Lien Rev., Ser. 2008-B, 5.00%, due 8/15/33 Pre-Refunded 8/15/18
 
3,019
   
       
Houston Higher Ed. Fin. Corp. Rev. (Cosmos Foundation)
       
   
390
 
Ser. 2012-A, 4.00%, due 2/15/22
 
407
   
   
1,000
 
Ser. 2012-A, 5.00%, due 2/15/32
 
1,074
   
   
1,000
 
Houston Pub. Imp. Ref. G.O., Ser. 2008-A, 5.00%, due 3/1/20 Pre-Refunded 3/1/18
 
1,023
   
   
500
 
New Hope Cultural Ed. Facs. Fin. Corp. Retirement Fac. Ref. Rev. (Carillon Life Care Comm. Proj.), Ser. 2016, 5.00%, due 7/1/36
 
510
   
   
500
 
New Hope Cultural Ed. Facs. Fin. Corp. Sr. Living Rev. (Cardinal Bay, Inc. VIillage On The Park Carriage), Ser. 2016-C, 5.75%, due 7/1/51
 
537
   
   
3,000
 
North Texas Tollway Au. Dallas North Tollway Sys. Rev., Ser. 2005-C, 6.00%, due 1/1/23
 
3,204
   
 
 
3,000
 
Tender Option Bond Trust Receipts/Certs. Var. Sts. (Floaters), Ser. 2017-XM0531, (LOC: JP Morgan Chase), 0.99%, due 3/1/23
 
3,000
(a)(j)
 
   
1,500
 
Texas Pub. Fin. Au. Rev. (So. Univ. Fin. Sys.), Ser. 2013, (BAM Insured), 5.00%, due 11/1/21
 
1,690
   
   
1,175
 
West Harris Co. Reg. Wtr. Au. Sys. Wtr. Rev., Ser. 2009, 5.00%, due 12/15/35
 
1,273
   
 
22,429
   
Utah 3.1%
 
       
Salt Lake City Arpt. Rev.
       
   
1,000
 
Ser. 2017-A, 5.00%, due 7/1/42
 
1,143
   
   
2,000
 
Ser. 2017-A, 5.00%, due 7/1/47
 
2,276
   
   
3,000
 
Salt Lake Co. Hosp. Rev. (IHC Hlth. Svc., Inc.), Ser. 2001, (AMBAC Insured), 5.40%, due 2/15/28
 
3,585
   
   
1,200
 
Uintah Co. Muni. Bldg. Au. Lease Rev., Ser. 2008, 5.25%, due 6/1/20 Pre-Refunded 6/1/18
 
1,243
   
   
500
 
Utah Charter Sch. Fin. Au. Rev. (Spectrum Academy Proj.), Ser. 2015, 6.00%, due 4/15/45
 
515
(a)
 
       
Utah Hsg. Corp. Single Family Mtge. Rev.
       
   
125
 
Ser. 2011-A2, Class I, 5.00%, due 7/1/20
 
133
   
   
115
 
Ser. 2011-A2, Class I, 5.25%, due 7/1/21
 
121
   
   
155
 
Ser. 2011-A2, Class I, 5.45%, due 7/1/22
 
163
   
 
9,179
   
Vermont 3.1%
 
       
Vermont Std. Assist. Corp. Ed. Loan Rev.
       
   
1,600
 
Ser. 2012-A, 5.00%, due 6/15/21
 
1,758
   
   
415
 
Ser. 2013-A, 4.25%, due 6/15/24
 
441
   
   
990
 
Ser. 2013-A, 4.35%, due 6/15/25
 
1,050
   
   
1,470
 
Ser. 2013-A, 4.45%, due 6/15/26
 
1,556
   
   
480
 
Ser. 2013-A, 4.55%, due 6/15/27
 
507
   
   
1,800
 
Ser. 2014-A, 5.00%, due 6/15/24
 
2,057
   
   
1,540
 
Ser. 2015-A, 4.13%, due 6/15/27
 
1,600
   
 
8,969
   
Virginia 0.4%
 
   
1,000
 
Fairfax Co. Econ. Dev. Au. Residential Care Fac. Rev. (Vinson Hall LLC), Ser. 2013-A, 4.00%, due 12/1/22
 
1,041
   
   
Washington 4.3%
 
   
1,600
 
Skagit Co. Pub. Hosp. Dist. Number 1 Ref. Rev., Ser. 2007, 5.63%, due 12/1/25 Pre-Refunded 12/1/17
 
1,625
   
   
6,700
 
Vancouver Downtown Redev. Au. Rev. (Conference Ctr. Proj.), Ser. 2013, 4.00%, due 1/1/28
 
6,911
   
   
1,250
 
Washington St. Econ. Dev. Fin. Au. Env. Facs. Rev. (Columbia Pulp I LLC Proj.), Ser. 2017-A, 7.50%, due 1/1/32
 
1,313
(a)(b)(k)
 
   
2,525
 
Washington St. Higher Ed. Fac. Au. Ref. Rev. (Whitworth Univ. Proj.), Ser. 2009, 5.38%, due 10/1/29 Pre-Refunded 10/1/19
 
2,756
   
 
12,605
   
West Virginia 0.3%
 
   
1,000
 
West Virginia Sch. Bldg. Au. Excess Lottery Rev., Ser. 2008, 5.00%, due 7/1/19 Pre-Refunded 7/1/18
 
1,034
   
   
Wisconsin 6.4%
 
   
870
 
Pub. Fin. Au. Ed. Rev. (Pine Lake Preparatory, Inc.), Ser. 2015, 4.95%, due 3/1/30
 
882
(a)
 
   
200
 
Pub. Fin. Au. Ed. Rev. (Resh Triangle High Sch. Proj.), Ser. 2015-A, 5.38%, due 7/1/35
 
202
(a)
 
   
3,000
 
Pub. Fin. Au. Hsg. Rev. (Dogwood Hsg., Inc. Southeast Portfolio Proj.), Ser. 2016-A, 4.25%, due 12/1/51
 
2,879
   
   
500
 
Pub. Fin. Au. Hsg. Rev. (SAP Utah Portfolio), Ser. 2016-A, 3.75%, due 7/1/36
 
474
   
 
 
1,250
 
Pub. Fin. Au. Multi-Family Hsg. Rev. (Estates Crystal Bay & Woodhaven Park Apts. Proj.), Ser. 2016-A, 4.00%, due 12/1/36
 
1,254
   
   
1,850
 
Pub. Fin. Au. Rev. Ref. (Roseman Univ. Hlth. Sciences Proj.), Ser. 2015, 5.00%, due 4/1/25
 
1,921
   
       
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College)
       
   
1,100
 
Ser. 2010-A, 6.13%, due 6/1/35 Pre-Refunded 6/1/20
 
1,253
   
   
1,225
 
Ser. 2010-A, 6.13%, due 6/1/39 Pre-Refunded 6/1/20
 
1,395
   
       
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Marquette Univ.)
       
   
1,340
 
Ser. 2008-B3, 5.00%, due 10/1/30 Pre-Refunded 12/23/19
 
1,463
   
   
3,660
 
Ser. 2008-B3, 5.00%, due 10/1/30
 
3,963
   
   
3,000
 
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Meriter Hosp., Inc.), Ser. 2009, 5.63%, due 12/1/29 Pre-Refunded 12/1/18
 
3,184
   
 
18,870
   
   
 
Total Municipal Notes (Cost $428,415)
 
468,185
   
   
Tax Exempt Preferred 0.6%
 
   
Real Estate 0.6%
 
   
1,575
 
Munimae TE Bond Subsidiary LLC, 5.00%, due 4/30/28 (Cost  $1,575)
 
1,622
(a)(b)
 
                 
 
Total Investments 160.4% (Cost $429,990)
469,807
##
 
         
 
Other Assets Less Liabilities 0.8%
2,433
   
         
 
Liquidation Value of Variable Rate Municipal Term Preferred Shares (net of unamortized deferred offering costs of approximately $109,000) (61.2)%
(179,291)
   
         
 
Net Assets Applicable to Common Stockholders 100.0%
$292,949
   
 
 
(a)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), or are otherwise restricted and, unless registered under the 1933 Act or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At July 31, 2017, these securities amounted to approximately $46,542,000 which represents 15.9% of net assets applicable to common stockholders of the Fund. Securities denoted with (a) but without (b) have been deemed by the investment manager to be liquid.
(b)
 
Illiquid security.
(c)
 
Defaulted security.
(d)
 
All or a portion of this security is segregated in connection with obligations for when-issued securities with a total value of approximately $12,827,000.
(e)
 
Currently a zero coupon security; will convert to 5.50% on August 1, 2021.
(f)
 
Currently a zero coupon security; will convert to 6.38% on August 1, 2019.
(g)
 
Currently a zero coupon security; will convert to 6.13% on August 1, 2023.
(h)
 
Currently a zero coupon security; will convert to 6.88% on August 1, 2019.
(i)
 
Currently a zero coupon security; will convert to 7.30% on August 1, 2026.
(j)
 
Variable or floating rate security. The interest rate shown was the current rate as of July 31, 2017 and changes periodically.
(k)
 
When-issued security. Total value of all such securities at July 31, 2017 amounted to approximately $1,313,000, which represents 0.4% of net assets applicable to common stockholders of the Fund.

 

See Notes to Schedule of Investments
 

Schedule of Investments Intermediate Municipal Fund Inc.
(Unaudited)(cont’d)

 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of July 31, 2017:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
 
Level 3
   
Total
 
Investments:
       
Municipal Notes(a)
 
$
 
468,185
 
$
   
$
468,185
 
Tax Exempt Preferred
   
   
1,622
   
     
1,622
 
Total Investments
 
$
 
469,807
 
$
   
$
469,807
 

 (a) The Schedule of Investments provides a categorization by state/territory or industry for the portfolio.

As of the period ended July 31, 2017, no securities were transferred from one level (as of October 31, 2016) to another.
 
 
See Notes to Schedule of Investments
 

July 31, 2017
Notes to Schedule of Investments (Unaudited)

      In accordance with Accounting Standards Codification (“ASC”) 820 “Fair Value Measurement” (“ASC 820”), all investments held by each of Neuberger Berman California Intermediate Municipal Fund Inc. (“California”), Neuberger Berman Intermediate Municipal Fund Inc. (“Intermediate”) and Neuberger Berman New York Intermediate Municipal Fund Inc. (“New York”), (each individually a “Fund,” and collectively, the “Funds”) are carried at the value that Neuberger Berman Investment Advisers LLC ("Management") believes a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Funds' investments, some of which are discussed below. Significant Management judgment may be necessary to value investments in accordance with ASC 820.

ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

Level 1 – quoted prices in active markets for identical investments
Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)
Level 3 – unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

The value of the Funds’ investments in municipal securities, liquidating trust – real estate, and tax exempt preferred securities is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid quotations, or if quotations are not available, by methods which include various considerations such as yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions (generally Level 2 inputs). Other Level 2 and 3 inputs used by independent pricing services to value municipal securities and units include current trades, bid-wanted lists (which inform the market that a holder is interested in selling a position and that offers will be considered), offerings, general information on market movement, direction, trends, appraisals, bid offers and specific data on specialty issues.

Management has developed a process to periodically review information provided by independent pricing services for all types of securities.

If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount a Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not readily available, the security is valued using methods each Fund's Board of Directors has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Numerous factors may be considered when determining the fair value of a security based on Level 2 or Level 3 inputs, including available analyst, media or other reports, securities within the same industry with recent highly correlated performance, trading in futures or American Depositary Receipts and whether the issuer of the security being fair valued has other securities outstanding.

Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.

##  At July 31, 2017, selected Fund information on a U.S. federal income tax basis was as follows:

 (000's omitted)
 
Cost
   
Gross
Unrealized
Appreciation
   
Gross
Unrealized
Depreciation
   
Net Unrealized
Appreciation/
(Depreciation)
 
California
 
$
132,927
   
$
10,561
   
$
408
   
$
10,153
 
Intermediate
   
430,084
     
42,305
     
2,582
     
39,723
 
New York
   
115,895
     
6,564
     
2,019
     
4,545
 

 
For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent stockholder reports.

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 1940 Act), as of a date within 90 days of the filing date of this report, the Chief Executive Officer and President and the 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 on Form N-Q 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 filed herewith.

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 Intermediate Municipal Fund Inc.
 
By:
 /s/ Robert Conti
 
 
Robert Conti
 
 
Chief Executive Officer and President
 
 
Date:  September 29, 2017
 
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/ Robert Conti
 
 
Robert Conti
 
 
Chief Executive Officer and President
 

Date:  September 29, 2017
 
By:
 /s/ John M. McGovern
 
 
John M. McGovern
 
 
Treasurer and Principal Financial
 
 
and Accounting Officer
 

Date:  September 29, 2017