N-Q 1 rq160_18607nq.txt RQ160_18607NQ 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 811-3104 CENTENNIAL TAX EXEMPT TRUST (Exact name of registrant as specified in charter) 6803 SOUTH TUCSON WAY, CENTENNIAL, COLORADO 80112-3924 (Address of principal executive offices) (Zip code) ROBERT G. ZACK, ESQ. OPPENHEIMERFUNDS, INC. TWO WORLD FINANCIAL CENTER, NEW YORK, NEW YORK 10281-1008 (Name and address of agent for service) Registrant's telephone number, including area code: (303) 768-3200 Date of fiscal year end: JUNE 30 Date of reporting period: SEPTEMBER 30, 2005 ITEM 1. SCHEDULE OF INVESTMENTS. Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- SHORT-TERM TAX-EXEMPT OBLIGATIONS--99.1% ---------------------------------------------------------------------------------------------------------------------------- ALABAMA--2.5% AL HFA MH RB, Rime Village Hoover Project, 1996 Series A, 2.84% 1 $ 435,000 $ 435,000 ---------------------------------------------------------------------------------------------------------------------------- AL IDAU RB, Well Built Cabinet, Inc. Project, 2.93% 1 480,000 480,000 ---------------------------------------------------------------------------------------------------------------------------- AL IDAU RB, Whitesell Project, 3.10% 1 2,025,000 2,025,000 ---------------------------------------------------------------------------------------------------------------------------- Calhoun Cnty., AL ED Council RB, IPC Aerospace Corp. Project, Series 2000, 2.93% 1 2,400,000 2,400,000 ---------------------------------------------------------------------------------------------------------------------------- Calhoun Cnty., AL ED Council RB, Southern Bag Corp. Ltd. Expansion Project, Series 1998, 2.98% 1 3,150,000 3,150,000 ---------------------------------------------------------------------------------------------------------------------------- Cullman Cnty., AL Medical Park South Medical Clinic Board RB, Puttable Floating Option Tax Exempt Receipts, Series MT-121, 2.81% 1,2 12,250,000 12,250,000 ---------------------------------------------------------------------------------------------------------------------------- Cullman Cnty., AL SWD Authority RB, Cullman Environmental, Inc. Project, Series 2003-A, 3.10% 1 1,895,000 1,895,000 ---------------------------------------------------------------------------------------------------------------------------- Florence, AL IDB RB, Nichols Wire, Inc. Project, Series A, 3.10% 1 2,570,000 2,570,000 ---------------------------------------------------------------------------------------------------------------------------- Hoover, AL BOE Capital Outlay TANs, AAMC Series 2001-16, 2.77% 1,2 4,950,000 4,950,000 ---------------------------------------------------------------------------------------------------------------------------- Hoover, AL MH RB, Royal Oaks Apts. Project, Series 2004, 2.86% 1 5,200,000 5,200,000 ---------------------------------------------------------------------------------------------------------------------------- Mobile, AL Medical Clinic Board RB, Springhill Professional Ltd., Series 1996, 2.84% 1 1,885,000 1,885,000 ---------------------------------------------------------------------------------------------------------------------------- Montgomery, AL Education Building Authority RB, Faulkner University Campus Housing Project, Series 2004, 3% 1 3,000,000 3,000,000 ---------------------------------------------------------------------------------------------------------------------------- Montgomery, AL IDB RB, Asphalt Contractors, Inc., 3.10% 1 500,000 500,000 ---------------- 40,740,000 ---------------------------------------------------------------------------------------------------------------------------- ALASKA--0.2% AK Export & IDAU RB, Reset Option Certificates II-R Trust, Series 320, 2.79% 1 4,000,000 4,000,000 ---------------------------------------------------------------------------------------------------------------------------- ARIZONA--2.9% AZ First Matrix Charter School Trust II Pass-Through Certificates, Series 2005-A, 3.05% 1,2 17,091,000 17,091,000 ---------------------------------------------------------------------------------------------------------------------------- Phoenix, AZ IDAU MH RRB, Paradise Lakes Apts. Project, Series 1995, 2.85% 1 22,500,000 22,500,000 ---------------------------------------------------------------------------------------------------------------------------- Tempe, AZ IDAU MH RB, Puttable Floating Option Tax Exempt Receipts, Series MT-067, 2.84% 1,2 8,295,000 8,295,000 ---------------- 47,886,000 ---------------------------------------------------------------------------------------------------------------------------- CALIFORNIA--3.6% Alameda, CA Corridor Transporation Authority RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-51, 2.81% 1,2,3 6,000,000 6,000,000 ---------------------------------------------------------------------------------------------------------------------------- Alameda, CA Corridor Transporation Authority RRB, Puttable Floating Option Tax Exempt Receipts, Series PZ-61, 2.81% 1,2,3 1,420,000 1,420,000 ---------------------------------------------------------------------------------------------------------------------------- CA HFA RRB, Home Mortgage, Series B, 3% 1 1,500,000 1,500,000 ---------------------------------------------------------------------------------------------------------------------------- CA Puttable Floating Option Tax Exempt Receipts, Series PZP-002, 2.90% 1 8,505,000 8,505,000 ---------------------------------------------------------------------------------------------------------------------------- CA Puttable Floating Option Tax Exempt Receipts, Series PZP-005, 2.85% 1,2 20,245,000 20,245,000 ---------------------------------------------------------------------------------------------------------------------------- CA RB, Trust Certificates, Series 1999-2, 2.80% 1 11,630,000 11,630,000 ----------------------------------------------------------------------------------------------------------------------------
1 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- CALIFORNIA CONTINUED CA Various RB, Puttable Floating Option Tax Exempt Receipts, Series PZP-008, 2.85% 1,2 $ 4,410,000 $ 4,410,000 ---------------------------------------------------------------------------------------------------------------------------- San Diego, CA Water Utility Fund Net System GOB, AAMC Series 1998-10, 2.75% 1,2 3,700,000 3,700,000 ---------------------------------------------------------------------------------------------------------------------------- Santa Rosa, CA Wastewater RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-43, 2.85% 1 1,840,000 1,840,000 ---------------- 59,250,000 ---------------------------------------------------------------------------------------------------------------------------- COLORADO--10.1% Arapahoe Cnty., CO Water & Wastewater Authority RRB, Series A, 2.78% 1 2,500,000 2,500,000 ---------------------------------------------------------------------------------------------------------------------------- Boulder Cnty., CO RB, Open Space Capital Improvements Trust Fund, Reset Option Certificates II-R Trust, Series 340, 2.79% 1,2 3,000,000 3,000,000 ---------------------------------------------------------------------------------------------------------------------------- Brighton, CO Crossing Metro District No. 4 RB, Series 2004, 2.90% 1 5,000,000 5,000,000 ---------------------------------------------------------------------------------------------------------------------------- Centerra Metropolitan District No. 1, CO RB, Series 2004, 2.78% 1 12,000,000 12,000,000 ---------------------------------------------------------------------------------------------------------------------------- Central Platte Valley Metro District, CO GOB, Series B, 2.30%, 12/1/05 4 3,000,000 3,000,000 ---------------------------------------------------------------------------------------------------------------------------- CO ECFA Public Radio RB, Community Wireless Park City, 2.80% 1 790,000 790,000 ---------------------------------------------------------------------------------------------------------------------------- CO ECFA RB, St. Marys Academy Project, 2.88% 1 6,000,000 6,000,000 ---------------------------------------------------------------------------------------------------------------------------- CO HFA ED RB, YRC LLC Project, Series 2005, 3.01% 1 2,180,000 2,180,000 ---------------------------------------------------------------------------------------------------------------------------- CO HFA SFM RB, 2004 Series B-4, Cl. I, 1.99%, 11/1/05 7,985,000 7,985,000 ---------------------------------------------------------------------------------------------------------------------------- CO MuniMae Trust Pass-Through Certificates, Canterberry Crossing, Series 2002-A, Cl. A, 3.15% 1 12,330,000 12,330,000 ---------------------------------------------------------------------------------------------------------------------------- Concord Metropolitan District, CO REF GO, Improvement Projects, Series 2004, 2.25%, 12/1/05 4 2,600,000 2,600,000 ---------------------------------------------------------------------------------------------------------------------------- Denver, CO International Business Center Metropolitan District No. 1 GOLB, Series 2002, 3.15% 1 8,065,000 8,065,000 ---------------------------------------------------------------------------------------------------------------------------- Ebert Metro District, CO Securitization Trust GOLB, Series 2004-S1, Cl. A2, 2.90% 1 8,500,000 8,500,000 ---------------------------------------------------------------------------------------------------------------------------- Kipling Ridge Metro District, CO RB, Series 2005, 2.80% 1 3,725,000 3,725,000 ---------------------------------------------------------------------------------------------------------------------------- Midcities Metropolitan District No. 1, CO RB, BNP Paribas STARS Certificates Trust, Series 2004-110, 2.82% 1 16,735,000 16,735,000 ---------------------------------------------------------------------------------------------------------------------------- Midcities Metropolitan District No. l, CO RRB, Series 2004A, 2.79% 1 14,900,000 14,900,000 ---------------------------------------------------------------------------------------------------------------------------- Park Creek Metro District, CO RB, Tender Option Certificates Trust, Series 2005-S, 2.79% 1 10,250,000 10,250,000 ---------------------------------------------------------------------------------------------------------------------------- Park Creek Metropolitan District RB, Puttable Floating Option Tax Exempt Receipts, Series MT-157, 2.84% 1,2 15,000,000 15,000,000 ---------------------------------------------------------------------------------------------------------------------------- Parker, CO Automotive Metropolitan District GOLB, Series 2005, 2.85% 1 4,510,000 4,510,000 ---------------------------------------------------------------------------------------------------------------------------- Superior Metro District No. 1, CO WSS RRB, Series 2000A, 2.338%, 12/1/05 4 3,035,000 3,035,000 ---------------------------------------------------------------------------------------------------------------------------- Superior Metro District No. 1, CO WSS RRB, Series 2002, 2.80% 1 2,500,000 2,500,000 ---------------------------------------------------------------------------------------------------------------------------- Superior/McCaslin Interchange Metro District, CO GOB, Series 2004, 2.10%, 11/15/05 4 3,970,000 3,970,000 ---------------------------------------------------------------------------------------------------------------------------- Westminster, CO MH RB, Puttable Floating Option Tax Exempt Receipts, Series MT-068, 2.84% 1,2 14,670,000 14,670,000 ---------------------------------------------------------------------------------------------------------------------------- Willow Trace Metro District, CO GOLB, Series 2001A, 2.30%, 12/1/05 4 2,295,000 2,295,000 ---------------- 165,540,000
2 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- FLORIDA--4.2% Bay Cnty., FL EDLFA RB, Bay Haven Charter Academy, Series 2004, 2.86% 1 $ 11,600,000 $ 11,600,000 ---------------------------------------------------------------------------------------------------------------------------- Collier Cnty., FL IDAU RB, Gulf Coast American Blind, Series A, 2.84% 1 2,730,000 2,730,000 ---------------------------------------------------------------------------------------------------------------------------- Hillsborough Cnty., FL IDAU PC COP, Tampa Electric Co. Project, ETET Series 96C0911, Cl. A, 2.79% 1,2 17,795,000 17,795,000 ---------------------------------------------------------------------------------------------------------------------------- Hillsborough Cnty., FL IDAU PC COP, Tampa Electric Co. Project, ETET Series 97C0901, Cl. A, 2.79% 1,2 17,795,000 17,795,000 ---------------------------------------------------------------------------------------------------------------------------- Jacksonville, FL Sales Tax RB, MERLOTS Series 2003 B26, 2.77% 1,2,3 5,000 5,000 ---------------------------------------------------------------------------------------------------------------------------- Palm Beach Cnty., FL HFA MH RB, Emerald Bay Club Apts., Series 2004, 2.78% 1 6,500,000 6,500,000 ---------------------------------------------------------------------------------------------------------------------------- Seminole Cnty., FL IDAU RB, Masters Academy Project, Series 2004, 2.77% 1 3,035,000 3,035,000 ---------------------------------------------------------------------------------------------------------------------------- UCF Athletic Assn., FL RB, Roaring Fork Municipal Products LLC, Series 2005-11, Cl. A, 2.83% 1,2 9,510,000 9,510,000 ---------------- 68,970,000 ---------------------------------------------------------------------------------------------------------------------------- GEORGIA--1.7% Columbus, GA DAU RB, Jordan Co. Project, Series 2000, 2.98% 1 560,000 560,000 ---------------------------------------------------------------------------------------------------------------------------- GA GOB, Series 1995B, ETET Series 96C1004, Cl. A, 2.79% 1,2 11,880,000 11,880,000 ---------------------------------------------------------------------------------------------------------------------------- Greene Cnty., GA HA RANs, Series 2004, 2.86% 1 5,990,000 5,990,000 ---------------------------------------------------------------------------------------------------------------------------- Rockdale Cnty., GA DAU MH RB, Series F3J, 2.87% 1 7,835,000 7,835,000 ---------------------------------------------------------------------------------------------------------------------------- Savannah, GA EDAU IDV RB, Savannah Steel & Metal Project, Series 1995, 3.10% 1 715,000 715,000 ---------------- 26,980,000 ---------------------------------------------------------------------------------------------------------------------------- ILLINOIS--13.2% Boone Mchenry & Dekalb Cntys., IL Community SDI No. 100 GOUN, Puttable Floating Option Tax Exempt Receipts, Series PZ-50, 2.83% 1,2 2,730,000 2,730,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL BOE GOUN, AAMC Series 2002-4, 2.77% 1,2 9,225,000 9,225,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL GOB, AAMC Series 2001-34, 2.78% 1,2 10,975,000 10,975,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL GOUN, AAMC Series 1998-3, 2.78% 1,2 8,735,000 8,735,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL GOUN, Tender Option Certificates Trust, Series Z-10, 2.83% 1,2 3,040,000 3,040,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL RB, Boys & Girls Clubs Project, 2.88% 1 900,000 900,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL RB, Lakefront Millennium Parking Facility, ETET Series 981303, Cl. A, 2.79% 1,2 22,495,000 22,495,000 ---------------------------------------------------------------------------------------------------------------------------- Chicago, IL Water RB, Puttable Floating Option Tax Exempt Receipts, Series MT-030, 2.79% 1,2 3,755,000 3,755,000 ---------------------------------------------------------------------------------------------------------------------------- Crestwood, IL Tax Increment RB, Series 2003, 2.80% 1 14,370,000 14,370,000 ---------------------------------------------------------------------------------------------------------------------------- East Peoria, IL CDAU RRB, The Kroger Co., Series 2003, 2.85% 1 3,125,000 3,125,000 ---------------------------------------------------------------------------------------------------------------------------- IL DFA RB, Jewish Federation of Chicago, Series 1999, 2.78% 1 1,025,000 1,025,000 ---------------------------------------------------------------------------------------------------------------------------- IL DFA RB, Oak Crest Residence Project, Series 2000, 2.88% 1 3,200,000 3,200,000 ---------------------------------------------------------------------------------------------------------------------------- IL EDLFA RB, Field Museum Natural History, Series 1998, 2.78% 1 2,950,000 2,950,000 ---------------------------------------------------------------------------------------------------------------------------- IL FAU RB, Mercy Alliance, Inc. Project, Series 2005, 2.77% 1 7,000,000 7,000,000 ---------------------------------------------------------------------------------------------------------------------------- IL FAU RB, Sauk Valley Community College Project, Series 2004A, 2.82% 1 6,725,000 6,725,000 ----------------------------------------------------------------------------------------------------------------------------
3 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- ILLINOIS CONTINUED IL HFAU RB, Blessing Hospital, Series B, FSA Insured, 2.78% 1 $ 2,200,000 $ 2,200,000 ---------------------------------------------------------------------------------------------------------------------------- IL Metropolitan Pier & Exposition Authority RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-44, 2.83% 1,2 6,605,000 6,605,000 ---------------------------------------------------------------------------------------------------------------------------- IL Metropolitan Pier & Exposition Authority RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-45, 2.83% 1,2 5,805,000 5,805,000 ---------------------------------------------------------------------------------------------------------------------------- IL Metropolitan Pier & Exposition Authority RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-52, 2.83% 1 7,570,000 7,570,000 ---------------------------------------------------------------------------------------------------------------------------- IL Metropolitan Pier & Exposition Authority RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-62, 2.83% 1,2 3,000,000 3,000,000 ---------------------------------------------------------------------------------------------------------------------------- IL Puttable Floating Option Tax Exempt Receipts, Series PZP-006, 2.90% 1,2 8,475,000 8,475,000 ---------------------------------------------------------------------------------------------------------------------------- IL RTA RB, Puttable Floating Option Tax Exempt Receipts, Series PT-2886, 2.79% 1,2 12,585,000 12,585,000 ---------------------------------------------------------------------------------------------------------------------------- IL RTA RB, Series 2003B Macon Trust Variable Certificates, Series 2004B, 2.79% 1,2 3,335,000 3,335,000 ---------------------------------------------------------------------------------------------------------------------------- Lakemoor, IL MH RB, Lakemoor Apts. Project, Series 1985 A, 2.89% 1 26,860,000 26,860,000 ---------------------------------------------------------------------------------------------------------------------------- Lakemoor, IL MH RB, Lakemoor Apts. Project, Series 1985 B, 2.98% 1 19,335,486 19,335,486 ---------------------------------------------------------------------------------------------------------------------------- Monmouth, IL Industrial Project RB, Monmouth College Project, Series 2005, 2.78% 1 6,500,000 6,500,000 ---------------------------------------------------------------------------------------------------------------------------- West Frankfort, IL IDV RRB, The Kroger Co., Series 2004, 2.85% 1 800,000 800,000 ---------------------------------------------------------------------------------------------------------------------------- Will Cnty., IL Community Unit SDI No. 365 REF GOUN, Puttable Floating Option Tax Exempt Receipts, Series PZ-47, 2.83% 1,2 8,995,000 8,995,000 ---------------------------------------------------------------------------------------------------------------------------- Will Cnty., IL New Lenox SDI No. 122 GOUN, Puttable Floating Option Tax Exempt Receipts, Series PZ-48, 2.83% 1,2 3,350,000 3,350,000 ---------------- 215,665,486 ---------------------------------------------------------------------------------------------------------------------------- INDIANA--2.6% IN GOB, AAMC Series 2003-15, Single Asset Trust, 2.78% 1,2 8,500,000 8,500,000 ---------------------------------------------------------------------------------------------------------------------------- IN HFFAU RB, Ascension Health Credit Group, Series 2001-A2, 2.72%, 11/15/05 4 6,500,000 6,500,000 ---------------------------------------------------------------------------------------------------------------------------- IN HFFAU RB, Ascension Health Credit Group, Series 2001A, 2.50% 1 10,000,000 10,000,000 ---------------------------------------------------------------------------------------------------------------------------- IN MPA PPS RB, ETET Series 981401, Cl. A, 2.79% 1,2 13,600,000 13,600,000 ---------------------------------------------------------------------------------------------------------------------------- Indianapolis, IN Local Public Improvement RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-58, 2.83% 1,2 3,190,000 3,190,000 ---------------- 41,790,000 ---------------------------------------------------------------------------------------------------------------------------- KANSAS--0.1% Wyandotte Cnty., KS Utility System RB, Puttable Tax Exempt Receipts, Series 595, 2.79% 1 1,690,000 1,690,000 ---------------------------------------------------------------------------------------------------------------------------- KENTUCKY--1.8% Hancock Cnty., KY SWD RB, NSA Ltd. Project, Series 1998, 3.05% 1 7,815,000 7,815,000 ---------------------------------------------------------------------------------------------------------------------------- Jefferson Cnty., KY Industrial Building RB, Franciscan Eldercare Service, 2.77% 1 5,925,000 5,925,000 ---------------------------------------------------------------------------------------------------------------------------- Morgantown, KY SWD Facilities RB, IMCO Recycling, Inc. Project, Series 2004, 3% 1 5,000,000 5,000,000 ----------------------------------------------------------------------------------------------------------------------------
4 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- KENTUCKY CONTINUED Somerset, KY Industrial Building RB, Tibbals Flooring Co. Project, Series 1989, 3.10% 1 $ 10,000,000 $ 10,000,000 ---------------- 28,740,000 ---------------------------------------------------------------------------------------------------------------------------- LOUISIANA--5.4% Jefferson Parish, LA Hospital Service District No. 001 RB, Putters Series 522, 2.81% 1 22,000,000 22,000,000 ---------------------------------------------------------------------------------------------------------------------------- Jefferson Parish, LA SFM RB, Series B, 3.753% 1 517,688 517,688 ---------------------------------------------------------------------------------------------------------------------------- LA Gas & Fuels Tax Nts., AAMC Series 2002-17, 2.80% 1,2 15,000,000 15,000,000 ---------------------------------------------------------------------------------------------------------------------------- LA HFA MH RB, Walmsley Housing Corp. Project, Series 2004, 2.80% 1 2,400,000 2,400,000 ---------------------------------------------------------------------------------------------------------------------------- LA Public FA MH RB, 2.85% 1 10,500,000 10,500,000 ---------------------------------------------------------------------------------------------------------------------------- LA TS Financing Corp. RB, Puttable Floating Option Tax Exempt Receipts, Series PA-1288, 2.84% 1,2 2,000,000 2,000,000 ---------------------------------------------------------------------------------------------------------------------------- New Orleans, LA Aviation Board RRB, Series A, 2.86% 1 12,440,000 12,440,000 ---------------------------------------------------------------------------------------------------------------------------- New Orleans, LA Aviation Board RRB, Series B, 2.86 1 18,965,000 18,965,000 ---------------------------------------------------------------------------------------------------------------------------- Shreveport, LA Home Mortgage Authority MH RRB, Summer Pointe LLC Project, 2.80% 1 4,280,000 4,280,000 ---------------- 88,102,688 ---------------------------------------------------------------------------------------------------------------------------- MARYLAND--0.5% MD IDV FAU RB, Our Lady of Good Counsel High School Facilities, Series 2005B, 2.80% 1 9,000,000 9,000,000 ---------------------------------------------------------------------------------------------------------------------------- MICHIGAN--1.1% MI Job DAU RB, East Lansing Residence Associates Project, 2.60% 1 1,900,000 1,900,000 ---------------------------------------------------------------------------------------------------------------------------- MI Multi-Modal GOB, Environmental Program, Series 2004A, 1.95% 1 16,370,000 16,370,000 ---------------- 18,270,000 ---------------------------------------------------------------------------------------------------------------------------- MINNESOTA--2.2% Bloomington, MN CD RB, 94th Street Associates Project, Series 1985, 2.80% 1 3,915,000 3,915,000 ---------------------------------------------------------------------------------------------------------------------------- Bloomington, MN CD RB, James Avenue Associates Project, Series 1985, 2.80% 1 3,805,000 3,805,000 ---------------------------------------------------------------------------------------------------------------------------- East Grand Forks, MN SWD RB, American Crystal Sugar Co., Series 2000, 3.10% 1 5,750,000 5,750,000 ---------------------------------------------------------------------------------------------------------------------------- Mankato, MN IDV RB, Sacco Family Ltd. Partnership, 3.01% 1 985,000 985,000 ---------------------------------------------------------------------------------------------------------------------------- MN GOB, ETET Series 20002301, Cl. A, 2.79% 1,2 16,010,000 16,010,000 ---------------------------------------------------------------------------------------------------------------------------- Rochester, MN IDV RRB, Seneca Foods Corp. Project, Series 1992, 3% 1 4,675,000 4,675,000 ---------------- 35,140,000 ---------------------------------------------------------------------------------------------------------------------------- MISSISSIPPI--0.2% MS Home Corp. MH RRB, Summer Park Apts. Project, Series 1999 D-2, 2.88% 1 650,000 650,000 ---------------------------------------------------------------------------------------------------------------------------- Panola Cnty., MS IDV RRB, The Kroger Co., Series 2003, 2.85% 1 3,250,000 3,250,000 ---------------- 3,900,000
5 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- MISSOURI--2.0% Jackson Cnty., MO IDA RB, Linda Hall Library Project, 2.87% 1 $ 6,700,000 $ 6,700,000 ---------------------------------------------------------------------------------------------------------------------------- Kansas City, MO Municipal Assistance Corp. RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-53, 2.83% 1,2 3,800,000 3,800,000 ---------------------------------------------------------------------------------------------------------------------------- MO DFB Cultural Facilities RB, Center of Creative Arts Project, Series 2004, 2.80% 1 2,300,000 2,300,000 ---------------------------------------------------------------------------------------------------------------------------- So. Pointe/Hunters Ridge MO, RB, Trust Certificates, Series 2005 A, 2.86% 1,2 10,575,000 10,575,000 ---------------------------------------------------------------------------------------------------------------------------- So. Pointe/Hunters Ridge MO, RB, Trust Certificates, Series 2005 B, 2.86% 1,2 8,365,000 8,365,000 ---------------------------------------------------------------------------------------------------------------------------- St. Louis Cnty., MO IDAU MH RB, Heatherbrook Gardens Apts., Series 1992, 2.91% 1 1,765,000 1,765,000 ---------------- 33,505,000 ---------------------------------------------------------------------------------------------------------------------------- NEVADA--1.6% NV GOLB, SGMSTR Series 1997 SG114, 2.79% 1,2 15,000,000 15,000,000 ---------------------------------------------------------------------------------------------------------------------------- Washoe Cnty., NV GOLB, AAMC Series 2001-24, Single Asset Trust, 2.78% 1,2 11,090,000 11,090,000 ---------------- 26,090,000 ---------------------------------------------------------------------------------------------------------------------------- NEW HAMPSHIRE--0.6% Manchester, NH H&RA MH RB, Wall Street Tower Ltd. Partnership, Series 1990A, 2.77% 1 4,800,000 4,800,000 ---------------------------------------------------------------------------------------------------------------------------- NH H&EFA RB, Antioch University Issue, 2.77% 1 4,320,000 4,320,000 ---------------- 9,120,000 ---------------------------------------------------------------------------------------------------------------------------- NEW JERSEY--0.4% NJ TS Financing Corp. RB, Puttable Floating Option Tax Exempt Receipts, Series PA-1283, 2.81% 1 6,250,000 6,250,000 ---------------------------------------------------------------------------------------------------------------------------- NEW MEXICO--5.9% Bernalillo Cnty., NM Gross Receipts Tax RRB, Macon Trust Variable Certificates, Series 2004B, 2.79% 1,2 5,160,000 5,160,000 ---------------------------------------------------------------------------------------------------------------------------- NM MFA RB, SFM Program Issue 2005, 3.70% 1 62,872,829 62,872,829 ---------------------------------------------------------------------------------------------------------------------------- NM Region II Housing MH RB, Santa Fe Retirement Village Apts., Series A, 2.20% 1 7,500,000 7,500,000 ---------------------------------------------------------------------------------------------------------------------------- University of NM RB, System Improvement, Sub Lien, Series 2001, 2.80% 1 20,110,000 20,110,000 ---------------- 95,642,829 ---------------------------------------------------------------------------------------------------------------------------- NEW YORK--2.4% Erie Cnty., NY RANs, Series 2005B, 3.75%, 7/13/06 18,000,000 18,129,800 ---------------------------------------------------------------------------------------------------------------------------- NY Upstate Telecommunications Corp. RB, Series 2005, 2.80% 1 7,300,000 7,300,000 ---------------------------------------------------------------------------------------------------------------------------- NYC IDA Civic Facilities RB, Birch Wathen Lenox School Project, Series 2004, 2.80% 1 600,000 600,000 ---------------------------------------------------------------------------------------------------------------------------- NYC IDA Civic Facilities RB, Casa Project, 2.81% 1 2,600,000 2,600,000 ---------------------------------------------------------------------------------------------------------------------------- NYC TFA Future Tax Sec. RB, Series 2003-B, 2.95% 1 4,000,000 4,000,000 ---------------------------------------------------------------------------------------------------------------------------- NYS GOUN, Series A, 1.80%, 10/7/05 4 1,900,000 1,900,000 ----------------------------------------------------------------------------------------------------------------------------
6 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- NEW YORK CONTINUED Oneida Cnty., NY IDA RB, Civic Facilities, Rome Memorial Hospital, Inc. Project, Series 2005, 2.80% 1 $ 5,000,000 $ 5,000,000 ---------------- 39,529,800 ---------------------------------------------------------------------------------------------------------------------------- NORTH CAROLINA--0.6% Craven Cnty., NC IFPCFA RB, Wheatstone Corp. Project, 3.10% 1 1,640,000 1,640,000 ---------------------------------------------------------------------------------------------------------------------------- Hoke Cnty., NC IFPCFA RB, Triangle Building Supply, Inc. Project, Series 1997, 3.10% 1 1,500,000 1,500,000 ---------------------------------------------------------------------------------------------------------------------------- NC Community HCF RB, Carolina Meadows, Inc., Project, Series 2004, 2.77% 1 5,000,000 5,000,000 ---------------------------------------------------------------------------------------------------------------------------- Wake Cnty., NC IFPCFA RB, Aeroglide Corp. Project, Series 1997, 3.10% 1 975,000 975,000 ---------------- 9,115,000 ---------------------------------------------------------------------------------------------------------------------------- OHIO--3.1% Bellefontaine, OH Hospital Facilities RRB, Mary Rutan Project, 2.80% 1 14,300,000 14,300,000 ---------------------------------------------------------------------------------------------------------------------------- Gallia Cnty., OH IDV Mtg. RRB, Jackson Pike Assn., 3%, 12/15/05 4 2,220,000 2,220,000 ---------------------------------------------------------------------------------------------------------------------------- Hamilton Cnty., OH HCF RB, Twin Towers & Twin Lakes Project, Series A, 2.78% 1 8,000,000 8,000,000 ---------------------------------------------------------------------------------------------------------------------------- Madeira, OH ED RRB, The Kroger Co., Series 2004, 2.85% 1 2,050,000 2,050,000 ---------------------------------------------------------------------------------------------------------------------------- OH Water DAU RB, Series A, 2.79% 1 15,400,000 15,400,000 ---------------------------------------------------------------------------------------------------------------------------- OH Water DAU RRB, 2.79% 1 5,420,000 5,420,000 ---------------------------------------------------------------------------------------------------------------------------- Stark Cnty., OH IDV RRB, The Kroger Co., Series 2004, 2.85% 1 3,100,000 3,100,000 ---------------- 50,490,000 ---------------------------------------------------------------------------------------------------------------------------- PENNSYLVANIA--0.6% Berks Cnty., PA IDAU RB, Visiting Nurse Assn., Inc. Project, Series B, 2.85% 1 620,000 620,000 ---------------------------------------------------------------------------------------------------------------------------- Harrisburg, PA Authority RB, Haverford Township School, Subseries 2001-A, 2.80% 1 2,195,000 2,195,000 ---------------------------------------------------------------------------------------------------------------------------- Philadelphia, PA IDAU RB, Friends of Mast School, Inc. Project, 2.80% 1 885,000 885,000 ---------------------------------------------------------------------------------------------------------------------------- Westmoreland Cnty., PA IDA RRB, Greensburg Thermal Project LLC, Series A, 2.78% 1 5,655,000 5,655,000 ---------------- 9,355,000 ---------------------------------------------------------------------------------------------------------------------------- SOUTH CAROLINA--1.1% SC Medical University HA RB, Series 2005-A, 2.80% 1,2 18,230,000 18,230,000 ---------------------------------------------------------------------------------------------------------------------------- TENNESSEE--0.3% Springfield, TN IDV Board RRB, The Kroger Co., Series 2004, 2.85% 1 4,500,000 4,500,000 ---------------------------------------------------------------------------------------------------------------------------- TEXAS--10.4% Allen, TX ISD GOUN, Puttable Tax Exempt Receipts, Series 715, 2.79% 1 1,505,000 1,505,000 ---------------------------------------------------------------------------------------------------------------------------- Bexar Cnty., TX HFC MH RB, Summit Hills Apts. Project, Series A, 2.80% 1 3,500,000 3,500,000 ---------------------------------------------------------------------------------------------------------------------------- Clipper, TX COP, Multistate Tax Exempt Certificates Trust, Series 2005-7, 2.87% 1,2 28,500,000 28,500,000 ---------------------------------------------------------------------------------------------------------------------------- Comal, TX ISD GOUN, Puttable Tax Exempt Receipts, Series 756, 2.79% 1,2 2,585,000 2,585,000 ----------------------------------------------------------------------------------------------------------------------------
7 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- TEXAS CONTINUED Coppell, TX ISD GOLB, Puttable Floating Option Tax Exempt Receipts, Series PZ-69, 2.83% 1,2 $ 3,300,000 $ 3,300,000 ---------------------------------------------------------------------------------------------------------------------------- Garland, TX ISD GOUN, School Building, Series 2004-B, 2.75%, 12/15/05 4 7,125,000 7,125,000 ---------------------------------------------------------------------------------------------------------------------------- Glaveston Cnty., TX MH RRB, Village by the Sea Ltd. Apts. Project, 2.85% 1 5,090,000 5,090,000 ---------------------------------------------------------------------------------------------------------------------------- Harris Cnty./Houston, TX Sports Authority Special RRB, Floating Rate Trust Receipts, Series PZ-65, 2.83% 1 7,700,000 7,700,000 ---------------------------------------------------------------------------------------------------------------------------- Hays, TX Consolidated ISD GOB, Puttable Tax Exempt Receipts, Series 632, 2.79% 1 3,190,000 3,190,000 ---------------------------------------------------------------------------------------------------------------------------- Houston, TX WSS RB, Puttable Floating Option Tax Exempt Receipts, Series PZ-67, 2.83% 1,2 3,410,000 3,410,000 ---------------------------------------------------------------------------------------------------------------------------- Houston, TX WSS RB, SGMSTR Series 1997 SG120, 2.79% 1,2 22,600,000 22,600,000 ---------------------------------------------------------------------------------------------------------------------------- Keller, TX ISD GOUN, AAMC Series 2001-26, 2.78% 1,2 3,000,000 3,000,000 ---------------------------------------------------------------------------------------------------------------------------- Lamar, TX Consolidated ISD Schoolhouse GOUN, Series 2004, 3%, 12/15/05 4 11,500,000 11,500,000 ---------------------------------------------------------------------------------------------------------------------------- Mansfield, TX ISD School Building GOUN, MERLOTS Series B11, 2.77% 1,2,3 8,585,000 8,585,000 ---------------------------------------------------------------------------------------------------------------------------- North TX/Dallas North TWY System RB, ETET Series 720050025, Cl. A, 2.79% 1,2 8,000,000 8,000,000 ---------------------------------------------------------------------------------------------------------------------------- Northside, TX ISD GOUN, Puttable Tax Exempt Receipts, Series 751, 2.79% 1,2 3,450,000 3,450,000 ---------------------------------------------------------------------------------------------------------------------------- Port Arthur, TX Port of Navigation District RB, Fina Oil & Chemical Co. Project, 3.01% 1 4,000,000 4,000,000 ---------------------------------------------------------------------------------------------------------------------------- San Antonio, TX Electric & Gas RB, Puttable Tax Exempt Receipts, Series 769, 2.79% 1,2 5,375,000 5,375,000 ---------------------------------------------------------------------------------------------------------------------------- Spring Branch, TX ISD Schoolhouse GOLB, Series 2004, 3%, 12/15/05 4 15,700,000 15,700,000 ---------------------------------------------------------------------------------------------------------------------------- Sunnyvale, TX ISD GOB, Puttable Tax Exempt Receipts, Series 619, 2.79% 1 1,990,000 1,990,000 ---------------------------------------------------------------------------------------------------------------------------- TX SGMSTR Series SG P-19, 2.90% 1 1,620,000 1,620,000 ---------------------------------------------------------------------------------------------------------------------------- TX Student HAU RB, Puttable Floating Option Tax Exempt Receipts, Series PT-3101, 2.84% 1,2 4,275,000 4,275,000 ---------------------------------------------------------------------------------------------------------------------------- TX TUAU RB, Dallas Northtollway, SGMSTR Series 1996 SG70, 2.79% 1,2 11,000,000 11,000,000 ---------------------------------------------------------------------------------------------------------------------------- Upper Trinity Regional Water District, TX RB, Puttable Tax Exempt Receipts, Series 579, 2.79% 1 2,825,000 2,825,000 ---------------- 169,825,000 ---------------------------------------------------------------------------------------------------------------------------- UTAH--0.9% Beaver Cnty., UT Environmental Facilities RB, Best Biofuels LLC Project, Series 2003A, 3.10% 1 10,985,000 10,985,000 ---------------------------------------------------------------------------------------------------------------------------- Davis Cnty., UT RB, Series 2003, 3.06% 1 2,310,000 2,310,000 ---------------------------------------------------------------------------------------------------------------------------- Riverdale, UT RA Tax Increment RB, 2.86% 1 1,000,000 1,000,000 ---------------- 14,295,000 ---------------------------------------------------------------------------------------------------------------------------- VIRGINIA--0.6% King George Cnty., VA IDAU Exempt Facilities RB, Birchwood Power Partners Project, Series 1995, 3% 1 9,200,000 9,200,000
8 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- WASHINGTON--1.9% Clark Cnty., WA Vancouver SDI No. 037 GOUN, Puttable Floating Option Tax Exempt Receipts, Series PZ-55, 2.83% 1,2 $ 2,765,000 $ 2,765,000 ---------------------------------------------------------------------------------------------------------------------------- King Cnty., WA GOLB, AAMC Series 2001-1, 2.78% 1,2 12,770,000 12,770,000 ---------------------------------------------------------------------------------------------------------------------------- Marysville, WA WSS RB, Puttable Tax Exempt Receipts, Series 909, 2.79% 1,2 7,345,000 7,345,000 ---------------------------------------------------------------------------------------------------------------------------- University of WA RB, Series 2004A, 2.79% 1 6,100,000 6,100,000 ---------------------------------------------------------------------------------------------------------------------------- WA EDFA RB, A&T Mensonides Project, Series 2001-I, 3.05% 1 1,910,000 1,910,000 ---------------- 30,890,000 ---------------------------------------------------------------------------------------------------------------------------- WEST VIRGINIA--1.1% Kanawha Cnty., WV IDV RRB, The Kroger Co., Series 2004-A, 2.85% 1 4,500,000 4,500,000 ---------------------------------------------------------------------------------------------------------------------------- Kanawha Cnty., WV IDV RRB, The Kroger Co., Series 2004-B, 2.85% 1 6,850,000 6,850,000 ---------------------------------------------------------------------------------------------------------------------------- Marmet, WV CD RRB, The Kroger Co., Series 2004, 2.85% 1 3,100,000 3,100,000 ---------------------------------------------------------------------------------------------------------------------------- WV HOFA RB, Pooled Financing Project, Series 2000 B-1, 2.72% 1 3,800,000 3,800,000 ---------------- 18,250,000 ---------------------------------------------------------------------------------------------------------------------------- WISCONSIN--5.9% Appleton, WI RED Authority RRB, Fox Cities Performing Arts Center, Series 2001B, 2.88% 1 1,000,000 1,000,000 ---------------------------------------------------------------------------------------------------------------------------- Clipper, WI COP, Tax Exempt Certificates Trust RB, Series 2005-29, 2.81% 1,2 11,330,000 11,330,000 ---------------------------------------------------------------------------------------------------------------------------- Columbus, WI IDV RB, Maysteel Corp. Project, Series 1994, 3.10% 1 2,000,000 2,000,000 ---------------------------------------------------------------------------------------------------------------------------- Green Bay, WI HAU RB, Sisters of St. Francis Project, Series 2004, 2.77% 1 4,995,000 4,995,000 ---------------------------------------------------------------------------------------------------------------------------- Janesville, WI IDV RRB, Seneca Foods Corp. Project, Series 2002, 3% 1 7,710,000 7,710,000 ---------------------------------------------------------------------------------------------------------------------------- Kettle Moraine, WI SDI TANs & RANs, 3.25%, 9/5/06 2,500,000 2,503,595 ---------------------------------------------------------------------------------------------------------------------------- La Crosse, WI IDV RB, Fiberpro, Inc. Project, Series 2005, 3.01% 1 2,150,000 2,150,000 ---------------------------------------------------------------------------------------------------------------------------- Wausau, WI SDI TANs & RANs, 2%, 10/27/05 6,500,000 6,500,543 ---------------------------------------------------------------------------------------------------------------------------- West Allis, WI RB, State Fairgrounds Park Exposition Center, 2.80% 1 3,555,000 3,555,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, Group Health Cooperative of South Central Wisconsin, 2.90% 1 4,200,000 4,200,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, HospiceCare Holdings, Inc., Series 2005, 2.79% 1 1,750,000 1,750,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, Lakeland College, Series 2005, 2.76% 1 14,050,000 14,050,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, Lindengrove, Inc. Project, Series 2003B, 2.77% 1 7,310,000 7,310,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, Lutheran Social Services, Series 2004, 2.79% 1 3,000,000 3,000,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, Oakwood Village Project, Series 2005, 2.77% 1 10,000,000 10,000,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, Southwest Health Center, Inc., 2.78% 1 6,340,000 6,340,000 ---------------------------------------------------------------------------------------------------------------------------- WI H&EFA RB, St. Camillus Health Center, Series 2005, 2.79% 1 1,125,000 1,125,000 ---------------------------------------------------------------------------------------------------------------------------- WI Transit RB, Reset Option Certificates II-R Trust, Series 7500, 2.79% 1,2 7,435,000 7,435,000 ---------------- 96,954,138 ---------------------------------------------------------------------------------------------------------------------------- WYOMING--0.3% Campbell Cnty., WY IDV RB, Powder Basin Properties Project, Series 1996, 2.95% 1 4,430,000 4,430,000 ---------------------------------------------------------------------------------------------------------------------------- OTHER TERRITORIES--6.4% Floating Rate Trust Receipts, Series 2001 C5, 2.99% 1,2 11,170,000 11,170,000 ----------------------------------------------------------------------------------------------------------------------------
9 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited --------------------------------------------------------------------------------
Principal Amount Value ---------------------------------------------------------------------------------------------------------------------------- OTHER TERRITORIES CONTINUED Municipal Securities Pool Trust, SGMSTR Series P-18, 2.90% 1,2 $ 85,050,000 $ 85,050,000 ---------------------------------------------------------------------------------------------------------------------------- Puttable Floating Option Tax Exempt Receipts, Series PZP-001, 2.90% 1,2 8,950,000 8,950,000 ---------------- 105,170,000 ---------------------------------------------------------------------------------------------------------------------------- U.S. POSSESSIONS--0.7% PR CMWLTH GOUN, Floating Rate Trust Receipts, Series 2005-F2, 2.87% 1,2 8,475,000 8,475,000 ---------------------------------------------------------------------------------------------------------------------------- PR CMWLTH Infrastructure FAU RB, Tender Option Trust Certificates, Series 2005 2,905,000 2,905,000 Z-6, 2.83% 1,2 ---------------- 11,380,000 ---------------------------------------------------------------------------------------------------------------------------- Total Investments, at Value (Cost $1,617,885,941) 99.1% 1,617,885,941 ---------------------------------------------------------------------------------------------------------------------------- Other Assets Net of Liabilities 0.9 14,097,660 ---------------- Net Assets 100.0% $ 1,631,983,601 ================
10 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited -------------------------------------------------------------------------------- Footnotes to Statement of Investments To simplify the listings of securities, abbreviations are used per the table below: AAMC ABN AMRO Munitops Certificates BOE Board of Education CD Commercial Development CDAU Community Development Authority CMWLTH Commonwealth COP Certificates of Participation DAU Development Authority DFA Development Finance Authority DFB Development Finance Board ECFA Educational and Cultural Facilities Authority ED Economic Development EDAU Economic Development Authority EDFA Economic Development Finance Authority EDLFA Educational Facilities Authority ETET Eagle Tax-Exempt Trust FA Facilities Authority FAU Finance Authority GO General Obligation GOB General Obligation Bonds GOLB General Obligation Ltd. Bonds GOUN General Obligation Unlimited Nts. H&EFA Health and Educational Facilities Authority H&RA Housing and Redevelopment Authority HA Hospital Authority HAU Housing Authority HCF Health Care Facilities HFA Housing Finance Agency/Authority HFAU Health Facilities Authority HFC Housing Finance Corp. HFFAU Health Facilities Finance Authority HOFA Hospital Finance Agency/Authority IDA Industrial Development Agency IDAU Industrial Development Authority IDB Industrial Development Board IDV Industrial Development IFPCFA Industrial Facilities and Pollution Control Financing Authority ISD Independent School District MERLOTS Municipal Exempt Receipts Liquidity Option Tender MFA Mortgage Finance Authority MH Multifamily Housing MPA Municipal Power Agency NYC New York City NYS New York State PC Pollution Control PPS Public Power System RA Redevelopment Agency/Authority RANs Revenue Anticipation Nts. RB Revenue Bonds 11 Centennial Tax Exempt Trust Centennial Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2005/Unaudited -------------------------------------------------------------------------------- RED Redevelopment REF Refunding RR Resource Recovery RRB Revenue Refunding Bonds RTA Regional Transportation Authority/Agency SDI School District SFM Single Family Mtg. SGMSTR Societe Generale, NY Branch Municipal Security Trust Receipts SWD Solid Waste Disposal TANs Tax Anticipation Nts. TFA Transitional Finance Authority TS Tobacco Settlement TUAU Turnpike Authority TWY Thruway/Tollway Authority/Agency WSS Water & Sewer System 1. Floating or variable rate obligation maturing in more than one year. The interest rate, which is based on specific, or an index of, market interest rates, is subject to change periodically and is the effective rate on September 30, 2005. This instrument has a demand feature which allows, on up to 30 days' notice, the recovery of principal at any time, or at specified intervals not exceeding one year. 2. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Trustees. These securities amount to $673,916,000 or 41.29% of the Trust's net assets as of September 30, 2005. 3. When-issued security or forward commitment to be delivered and settled after September 30, 2005. See accompanying Notes to Quarterly Statement of Investments 4. Put obligation redeemable at full principal value on the date reported. NOTES TO QUARTERLY STATEMENT OF INVESTMENTS SECURITIES VALUATION. The net asset value of shares of the Trust is normally determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern time on each day The New York Stock Exchange (the Exchange) is open for trading. Portfolio securities are valued on the basis of amortized cost, which approximates market value. SECURITIES ON A WHEN-ISSUED BASIS OR FORWARD COMMITMENT. Delivery and payment for securities that have been purchased by the Trust on a when-issued basis or forward commitment can take place up to ten days or more after the trade date. Normally the settlement date occurs within six months after the trade date; however, the Trust may, from time to time, purchase securities whose settlement date extends six months or more beyond trade date. During this period, such securities do not earn interest, are subject to market fluctuation and may increase or decrease in value prior to their delivery. The Trust maintains internally designated assets with a market value equal to or greater than the amount of its purchase commitments. The purchase of securities on a when-issued basis or forward commitment may increase the volatility of the Trust's net asset value to the extent the Trust executes such transactions while remaining substantially fully invested. The Trust may also sell securities that it purchased on a when-issued basis or forward commitment prior to settlement of the original purchase. As of September 30, 2005, the Trust had sold $43,442,731 of securities issued on a when-issued basis or forward commitment. 12 Centennial Tax Exempt Trust ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of September 30, 2005, the registrant's principal executive officer and principal financial officer found the registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to the registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in the registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Exhibits 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. Centennial Tax Exempt Trust By: /s/ John V. Murphy ------------------ John V. Murphy Principal Executive Officer Date: November 16, 2005 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/ John V. Murphy ------------------ John V. Murphy Principal Executive Officer Date: November 16, 2005 By: /s/ Brian W. Wixted ------------------- Brian W. Wixted Principal Financial Officer Date: November 16, 2005