-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N3Q7GcgcYhBD9fr4DpzkRZ+9OTr92BLHxvkSl+IvaYBNzQ4WqQsQgR/8ycXehok2 LcUXKoakBc+zSf6t9SjoVA== 0000950123-09-005675.txt : 20090330 0000950123-09-005675.hdr.sgml : 20090330 20090330145358 ACCESSION NUMBER: 0000950123-09-005675 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090131 FILED AS OF DATE: 20090330 DATE AS OF CHANGE: 20090330 EFFECTIVENESS DATE: 20090330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY QUALITY MUNICIPAL INVESTMENT TRUS CENTRAL INDEX KEY: 0000876982 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06346 FILM NUMBER: 09713768 BUSINESS ADDRESS: STREET 1: 522 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 800-869-6397 MAIL ADDRESS: STREET 1: 522 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY QUALITY MUNICIPAL INVESTMENT TRUST DATE OF NAME CHANGE: 20011220 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER QUALITY MUNICIPAL INVESTMENT TRUS DATE OF NAME CHANGE: 19981221 FORMER COMPANY: FORMER CONFORMED NAME: INTERCAPITAL QUALITY MUNICIPAL INVESTMENT TRUST DATE OF NAME CHANGE: 19920929 N-Q 1 y74916cnvq.htm FORM N-Q N-Q
 
 
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: 811-06346
Morgan Stanley Quality Municipal Investment Trust
(Exact name of registrant as specified in charter)
     
522 Fifth Avenue, New York, New York 10036    
(Address of principal executive offices)   (Zip code)
     
Randy Takian    
522 Fifth Avenue, New York, New York 10036    
(Name and address of agent for service)
Registrant’s telephone number, including area code: 212-296-6963
Date of fiscal year end: October 31, 2009
Date of reporting period: January 31, 2009
 
 
Item 1. Schedule of Investments.
The Trust’s schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:


 

Morgan Stanley Quality Municipal Investment Trust
Portfolio of Investments January 31, 2009 (unaudited)
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
       
Tax-Exempt Municipal Bonds (162.1%)
                       
       
Alabama (0.8%)
                       
$ 2,000    
Jefferson County, Alabama, School Ser 2004 A
    5.50 %     01/01/22     $ 1,327,860  
       
 
                     
       
 
                       
       
Alaska (1.0%)
                       
  3,000    
Northern Tobacco Securitization Corporation, Alaska, Asset Backed Ser 2006 A
    5.00       06/01/46       1,564,860  
       
 
                     
       
 
                       
       
Arizona (0.6%)
                       
  985    
Arizona, Ser 2008 A COPs (FSA Insd)
    5.00       09/01/24       1,013,732  
       
 
                     
       
 
                       
       
California (24.0%)
                       
  690    
Alvord Unified School District, California, Ser 2007 A (FSA Insd)
    5.00       08/01/23       724,224  
  1,000    
Bay Area Toll Authority, Revenue Ser F
    5.00       04/01/31       971,230  
  680    
Beverly Hills California Unified School District Ser 2009 (WI)
    0.00       08/01/26       253,837  
  1,310    
Beverly Hills California Unified School District Ser 2009 (WI)
    0.00       08/01/31       341,098  
  5,000    
California, Economic Recovery, Ser 2004 A (a)
    5.00       07/01/16       5,177,100  
  3,000    
California, Various Purpose dtd 05/01/03
    5.00       02/01/24       2,974,380  
  3,000    
California Health Facilities Financing Authority, Cedars-Sinai Medical Center Ser 2005
    5.00       11/15/34       2,504,010  
  340    
Clovis California University School District Ser 2004 A
    0.00       08/01/29       101,419  
  2,000    
California Infrastructure & Economic Development Bank, The Scripps Research Institute Ser 2005 A
    5.00       07/01/29       1,967,240  
  3,000    
California Statewide Communities Development Authority, John Muir Health Ser 2006 A
    5.00       08/15/32       2,575,380  
  1,775    
EL Segundo California School District 2008 Ser A
    0.00       08/01/31       426,337  
  3,000    
Golden State Tobacco Securitization Corporation, California, Enhanced Asset Backed Ser 2005 A (AMBAC Insd)
    5.00       06/01/29       2,580,660  
  2,000    
Golden State Tobacco Securitization Corporation, California, Enhanced Asset Backed Ser 2005 A (AMBAC Insd)
    5.00       06/01/45       1,512,760  
  4,000    
Golden State Tobacco Securitization Corporation, California, Enhanced Asset Backed Ser 2007 A-1
    5.125       06/01/47       2,151,360  
  4,000    
Golden State Tobacco Securitization Corporation, California, Enhanced Asset Backed Ser 2007 A-1
    5.75       06/01/47       2,416,200  
  585    
Indio Redevelopment Agency, California, Merged Redevelopment Project Area, Ser 2008 A
    5.00       08/15/24       527,483  
  2,000    
Los Angeles, California, Ser 2004 A (MBIA Insd)
    5.00       09/01/24       2,055,800  
  1,920    
Los Angeles Department of Water & Power, California, Water 2004 Ser C (MBIA Insd) (a)
    5.00       07/01/23       1,968,346  
  4,000    
Oxnard Financing Authority, California, Redwood Trunk Sewer & Headworks Ser 2004 A (FGIC Insd)
    5.00       06/01/29       3,817,920  
  2,455    
Poway Unifield School District, San Diego, 2008 Ser A
    0.00       08/01/31       639,233  
  1,965    
Poway Unifield School District, San Diego, 2008 Ser A
    0.00       08/01/27       680,990  
  540    
San Francisco City & County, California, Laguna Honda Hospital Ser 2008 R3 (AGC Insd) (a)
    5.00       06/15/28       538,969  
  3,300    
San Jose, California, Evergreen Community College District Election of 2004 Ser B (FSA Insd)
    0.00       09/01/30       929,808  
  2,000    
Tobacco Securitization Authority of Northern California, Sacramento County Tobacco Securitization Corporation Ser 2005 A-1
    5.00       06/01/37       1,099,180  
       
 
                     
       
 
                    38,934,964  
       
 
                     
       
 
                       
       
Colorado (4.8%)
                       
  1,585    
Colorado Educational & Cultural Facilities Authority, Peak to Peak Charter School Refg & Impr Ser 2004 (XLCA Insd)
    5.25       08/15/34       1,436,343  
  195    
Colorado Housing & Finance Authority, 2000 Ser D-2 (AMT)
    6.90       04/01/29       206,437  
  160    
Colorado Public Authority for Energy, Natural Gas Purchase Ser 2008
    6.25       11/15/28       130,002  
  5,000    
Colorado Springs, Utilities Ser 2001 A
    5.00       11/15/29       5,003,500  
  1,500    
University of Colorado Hospital Authority, Ser 2006 A
    5.00       11/15/37       1,076,820  
       
 
                     
       
 
                    7,853,102  
       
 
                     
       
 
                       
       
District of Columbia (4.3%)
                       
  380    
District of Columbia Ser 2008E (BHAC Insd) (a)
    5.00       06/01/26       384,524  
  380    
District of Columbia Ser 2008E (BHAC Insd) (a)
    5.00       06/01/27       384,524  
  760    
District of Columbia Ser 2008E (BHAC Insd) (a)
    5.00       06/01/28       769,050  
  2,000    
District of Columbia Ballpark, Ser 2006 B-1 (FGIC Insd)
    5.00       02/01/31       1,637,320  
  575    
District of Columbia Water and Sewer Authority, Public Utility Ser 2008 A (AGC Insd)
    5.00       10/01/27       577,587  
  265    
District of Columbia Water and Sewer Authority, Public Utility Ser 2008 A (AGC Insd)
    5.00       10/01/28       263,670  
  3,000    
Metropolitan Washington Airports Authority, District of Columbia & Virginia, Ser 2004 C-1 (AMT) (FSA Insd) (b)
    5.00       10/01/20       2,891,100  
       
 
                     
       
 
                    6,907,775  
       
 
                     
       
 
                       
       
Florida (18.6%)
                       

 


 

                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
  6,890    
Florida State Board of Education, Capital Outlay Refg Ser 2001 D
    5.375       06/01/18       7,446,505  
  945    
Florida State Mid-Bay Bridge Auth, Ser 2008 (AGC Insd)
    5.00       10/01/22       990,351  
  3,000    
Highlands County Health Facilities Authority, Florida, Adventist Health Refg Ser 2005 C
    5.00       11/15/31       2,493,330  
  1,900    
Jacksonville, Florida, Sales Tax Ser 2001 (AMBAC Insd)
    5.50       10/01/18       2,021,904  
  2,000    
Martin County, Florida, Utilities Ser 2001 (FGIC Insd)
    5.00       10/01/26       1,913,880  
  1,000    
Miami-Dade County, Florida, Ser 2005 A (MBIA Insd)
    0.00 (c)     10/01/30       641,950  
  1,300    
Miami-Dade County, Florida, Ser 2005 A (MBIA Insd)
    5.50       04/01/38       1,307,540  
  8,000    
South Miami Health Facilities Authority, Florida, Baptist Health Ser 2007 (a)
    5.00       08/15/42       5,257,184  
  1,000    
St Johns, Industrial Development Authority, Florida, Glenmoor Refg 2006 Ser A
    5.375       01/01/40       543,560  
  8,000    
Tampa Bay Water, Florida, Ser 2001 B (FGIC Insd)
    5.00       10/01/31       7,583,920  
       
 
                     
       
 
                    30,200,124  
       
 
                     
       
 
                       
       
Georgia (10.0%)
                       
  3,000    
Atlanta, Georgia, Airport Passenger Facilities Charge Airport Ser 2004 J (FSA Insd)
    5.00       01/01/34       2,868,180  
  7,000    
Georgia Road & Tollway Authority, Ser 2001
    5.375       03/01/17       7,632,099  
  2,000    
Georgia Road & Tollway Authority, Ser 2004
    5.00       10/01/22       2,102,840  
  2,000    
Municipal Electric Authority of Georgia, Combustion Turbine Ser 2002 A (MBIA Insd)
    5.25       11/01/21       2,057,380  
  1,500    
Municipal Electric Authority of Georgia, Combustion Turbine Ser 2002 A (MBIA Insd)
    5.25       11/01/22       1,556,175  
       
 
                     
       
 
                    16,216,674  
       
 
                     
       
 
                       
       
Idaho (0.4%)
                       
  1,000    
Madison County Industrial Development Authority, Idaho, Madison Memorial Hospital Ser 2006 COPs
    5.25       09/01/37       675,930  
       
 
                     
       
 
                       
       
Illinois (2.3%)
                       
  2,000    
Chicago, Illinois, O’ Hare Int’l Airport Third Lien Ser 2003 B-2 (AMT) (FSA Insd)
    5.75       01/01/23       1,958,680  
  1,035    
Chicago Transit Authority, Capital Grant Receipts Ser 2008 (AGC Insud)
    5.25       06/01/24       1,084,887  
  710    
De Kalb County, Illinois, Community United School District No. 428 (FSA Insd)
    5.00       01/01/23       739,529  
       
 
                     
       
 
                    3,783,096  
       
 
                     
       
 
                       
       
Indiana (1.3%)
                       
  3,000    
Indiana Health & Educational Facility Financing Authority, Clarian Health Ser 2006 A
    5.25       02/15/40       2,170,680  
       
 
                     
       
 
                       
       
Iowa (1.8%)
                       
  2,200    
Coralville, Iowa, Marriot Hotel & Convention Center Ser 2006 D COPs
    5.25       06/01/26       1,982,904  
  1,275    
Coralville, Iowa, Urban Renewal Ser 2007 C
    5.00       06/01/47       933,006  
       
 
                     
       
 
                    2,915,910  
       
 
                     
       
 
                       
       
Kentucky (7.0%)
                       
  5,000    
Louisville & Jefferson County Metropolitan Sewer District, Kentucky, Ser 1999 A (FGIC Insd)
    5.75       05/15/33       5,036,599  
  2,925    
Louisville & Jefferson County Metropolitan Sewer District, Kentucky, Ser 2001 A (MBIA Insd)
    5.375       05/15/20       3,132,412  
  3,075    
Louisville & Jefferson County Metropolitan Sewer District, Kentucky, Ser 2001 A (MBIA Insd)
    5.375       05/15/21       3,214,974  
       
 
                     
       
 
                    11,383,985  
       
 
                     
       
 
                       
       
Maryland (5.3%)
                       
  1,000    
Baltimore County, Maryland, Oak Crest Village Ser 2007 A
    5.00       01/01/37       707,060  
  1,500    
Maryland Health & Higher Educational Facilities Authority, King Farm Presbyterian Community 2006 Ser B
    5.00       01/01/17       1,136,625  
  3,000    
Maryland Health & Higher Educational Facilities Authority, Medstar Health Refg Ser 2004
    5.375       08/15/24       2,830,890  
  1,000    
Maryland Health & Higher Edlucational Facilities Authority, University of Maryland Medical Ser 2006 A
    5.00       07/01/41       799,880  
  3,000    
Northeast Maryland Waste Disposal Authority, Montgomery County Ser 2003 (AMT) (AMBAC Insd)
    5.50       04/01/16       3,112,470  
       
 
                     
       
 
                    8,586,925  
       
 
                     
       
 
                       
       
Massachusetts (0.3%)
                       
  415    
Massachusetts Bay Transportation Authority, Assess 2000 Ser A
    5.25       07/01/30       416,274  
       
 
                     
       
 
                       
       
Michigan (3.7%)
                       
  875    
Detroit Water Suooly System Revenue
    5.00       07/01/26       792,164  
  3,000    
Michigan State Hospital Finance Authority, Henry Ford Health Refg Ser 2006 A
    5.25       11/15/46       1,968,750  
  3,500    
Michigan Strategic Fund, Detroit Edison Co Ser 2001 C
    5.45       09/01/29       3,297,595  
       
 
                     
       
 
                    6,058,509  
       
 
                     
       
 
                       
       
Missouri (1.0%)
                       
  850    
Fenton, Missouri, Gravois Bluffs Refg Ser 2006
    4.50       04/01/21       864,459  
  1,000    
Missouri Health & Educational Facilities Authority, Lutheran Senior Services Ser 2005 A
    5.375       02/01/35       702,570  
       
 
                     
       
 
                    1,567,029  
       
 
                     
       
 
                       
       
Nebraska (1.1%)
                       
  2,000    
Nebraska Public Power District, Ser 2005 C (FGIC Insd)
    5.00       01/01/41       1,840,440  
       
 
                     

 


 

                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
       
Nevada (4.5%)
                       
  2,000    
Clark County, Nevada, Airport Sub Lien Ser 2004 A (AMT) (FGIC Insd)
    5.50       07/01/22       1,894,500  
  2,925    
Las Vegas Water District, Nevada, Impr and Refg Ser 2003 A (FGIC Insd)
    5.25       06/01/22       3,030,388  
  1,600    
Nevada, Capital Improvement & Cultural Affairs Ser 2008 C (FSA Insd) (a)
    5.00       06/01/26       1,627,000  
  1,000    
Reno, Nevada, Renown Regional Medical Center Ser 2007 A
    5.25       06/01/37       728,480  
       
 
                     
       
 
                    7,280,368  
       
 
                     
       
 
                       
       
New Jersey (8.4%)
                       
  7,000    
New Jersey, 2001 Ser H (d)
    5.25       07/01/19       8,211,910  
  1,000    
New Jersey Economic Development Authority, Cigarette Tax Ser 2004
    5.75       06/15/34       724,320  
  2,750    
New Jersey Turnpike Authority, Ser 2003 A (AMBAC Insd)
    5.00       01/01/30       2,666,620  
  3,000    
Tobacco Settlement Financing Corporation, New Jersey, Ser 2007-1A
    4.625       06/01/26       1,915,530  
  3,000    
Tobacco Settlement Financing Corporation, New Jersey, Ser 2007-1B
    0.00       06/01/41       97,260  
       
 
                     
       
 
                    13,615,640  
       
 
                     
       
 
                       
       
New Mexico (0.6%)
                       
  920    
New Mexico Finance Authority, Senior Lien Public Project Revolving Fund Ser 2008 A
    5.00       06/01/27       932,963  
       
 
                     
       
 
                       
       
New York (14.4%)
                       
  1,500    
Dormitory Authority of the state of New York Ser 2007 A
    5.00       02/15/27       1,482,405  
  2,000    
Long Island Power Authority, New York, Ser 2004 A (AMBAC Insd)
    5.00       09/01/34       1,802,660  
  3,000    
Metropolitan Transportation Authority, New York, State Service Contract Refg Ser 2002 B (MBIA Insd)
    5.50       07/01/20       3,146,790  
  3,000    
Nassau County Tobacco Settlement Corporation, New York, Asset Backed Ser 2006 A-3
    5.125       06/01/46       1,852,860  
  1,840    
New York City, 2009 Subser A-1 (a)
    5.250       08/20/27       1,835,088  
  1,840    
New York City, 2009 Subser A-1 (a)
    5.250       08/20/28       1,835,088  
  455    
New York City, 2008 Subser L-1
    5.00       04/01/26       446,232  
  2,000    
New York City Industrial Development Agency, Yankee Stadium Ser 2006 (FGIC Insd)
    5.00       03/01/46       1,452,620  
  3,000    
New York City Municipal Water Finance Authority, 2003 Ser A
    5.375       06/15/18       3,238,980  
  3,700    
New York City Trust for Cultural Resources, Museum of Modern Art Refg Ser 2008 1A (a)
    5.00       04/01/26       3,750,716  
  2,000    
New York State Energy & Research Development Authority, Brooklyn Union Gas Co 1991 Ser B (AMT)
    14.62 (e)     05/15/20       2,002,380  
  1,000    
Seneca Nation of Indians, New York, Ser 2007 A
    5.00       12/01/23       575,860  
       
 
                     
       
 
                    23,421,679  
       
 
                     
       
 
                       
       
North Carolina (1.2%)
                       
  1,100    
North Carolina Medical Care Commission, Salemtowne Refg Ser 2006
    5.10       10/01/30       675,257  
  1,200    
University of North Carolina, Chapel Hill Ser 2003
    5.00       12/01/24       1,231,512  
       
 
                     
       
 
                    1,906,769  
       
 
                     
       
 
                       
       
Ohio (3.8%)
                       
  3,000    
American Municipal Power — Ohio, Inc., Prairie State Energy Campus Project Ser 2008 A (AGC Insd) (a)
    5.25       02/15/33       2,989,870  
  3,000    
Lorain County, Ohio, Catholic Healthcare Partners Ser 2001 A
    5.75       10/01/18       3,147,180  
       
 
                     
       
 
                    6,137,050  
       
 
                     
       
 
                       
       
Pennsylvania (3.5%)
                       
  2,000    
Allegheny County Development Authority, Pennsylvania, West Penn Allegheny Health Ser 2007 A
    5.375       11/15/40       1,043,600  
  5,000    
Pennsylvania Turnpike Commission, Ser 2004 A (AMBAC Insd)
    5.00       12/01/34       4,637,500  
       
 
                     
       
 
                    5,681,100  
       
 
                     
       
 
                       
       
South Carolina (7.1%)
                       
  3,000    
Charleston Educational Excellence Financing Corporation, South Carolina, Charleston County School District Ser 2005
    5.25       12/01/29       2,889,420  
  40    
Lexington County, South Carolina, Health Services District Inc., Lexington Medical Center Ser 2007
    5.00       11/01/16       41,934  
  205    
Richland County Environmental Improvement, South Carolina, 2007 Refg Ser A
    4.60       09/01/12       185,131  
  1,945    
South Carolina Public Service Authority, Santee Cooper, 1997 Refg Ser A (MBIA Insd)
    5.00       01/01/29       1,859,828  
  1,500    
South Carolina Public Service Authority, Santee Cooper, 2002 Refg Ser A (FSA Insd)
    5.125       01/01/20       1,605,690  
  1,000    
South Carolina Public Service Authority, Santee Cooper, 2002 Refg Ser A (FSA Insd)
    5.125       01/01/21       1,039,380  
  4,000    
South Carolina Public Service Authority, Santee Cooper, 2003 Refg Ser A (AMBAC Insd) (a)
    5.00       01/01/27       3,948,905  
       
 
                     
       
 
                    11,570,288  
       
 
                     
       
 
                       
       
Tennessee (3.8%)
                       
  5,000    
Sullivan County Health Educational & Housing Facilities Board, Tennessee, Wellmont Health Ser 2006 C
    5.25       09/01/36       2,937,150  
  4,000    
Tennessee Energy Acquisition Corporation, Ser 2006 A
    5.25       09/01/19       3,230,200  
       
 
                     
       
 
                    6,167,350  
       
 
                     
       
 
                       
       
Texas (19.0%)
                       
  1,090    
Aldine Independent School District, Texas, Bldg & Refg Ser 2001 (PSF Insd)
    5.00       02/15/26       1,100,050  
  2,000    
Alliance Airport Authority, Texas, Federal Express Corp Refg Ser 2006 (AMT)
    4.85       04/01/21       1,503,280  

 


 

                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
  1,360    
Austin, Texas, Water & Wastewater ROLS RR II R - 674 (FSA Insd)
    12.87 (e)     05/15/27       1,386,738  
  3,000    
Board of Regents of the University of Houston System Ser 2008 (FSA Insd) (a)
    5.00       02/15/33       2,950,530  
  5,000    
Dallas-Fort Worth International Airport, Texas, Ser 2003 A (AMT) (FSA Insd) (a)
    5.375       11/01/22       4,787,346  
  555    
Friendswood Independent School District, Texas, Schoolhouse Ser 2008 (PSF Insd)
    5.00       02/15/25       579,148  
  1,335    
Harris County Health Facilities Development Corp, Texas, TECO Project, Ser 2008 (AGC Insd)
    5.25       11/15/23       1,410,681  
  8,500    
Houston, Texas, Combined Utility First Lien Refg 2004 Ser A (FGIC Insd)
    5.25       05/15/23       8,636,510  
  4,500    
Houston, Texas, Combined Utility First Lien Refg 2004 Ser A (MBIA Insd)
    5.25       05/15/25       4,586,130  
  420    
Houston, Texas, Community College System Sr-Lien-Student Fee Ser 2008 (FSA Insd)
    5.00       04/15/23       437,623  
  2,300    
Houston, Texas, Hotel Occupancy Ser 2001 B (FSA Insd) (f)
    0.00       09/01/25       933,685  
  5,100    
North Texas Tollway Authority, System Rev Refunding Bond Ser 2008 D (AGC Insd) (f)
    0.00       01/01/28       1,588,905  
  1,000    
Tarrant County Cultural Educational Facilities Finance Corp, Texas, Air Force Village II Inc Ser 2007
    5.125       05/15/37       631,290  
  320    
Texas Municipal Gas Acquisition and Supply Corp. Ser 2008 D
    6.25       12/15/26       267,187  
       
 
                     
       
 
                    30,799,103  
       
 
                     
       
 
                       
       
Utah (1.9%)
                       
  3,000    
Salt Lake City, IHC, Hospital Inc Refg Ser 1991 (ETM) (AMBAC Insd)
    12.56 (e)     05/15/20       3,027,930  
       
 
                     
       
 
                       
       
Virginia (0.6%)
                       
  1,750    
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities, Goodwin House Inc Ser 2007
    5.125       10/01/37       1,024,958  
       
 
                     
       
 
                       
       
Washington (5.0%)
                       
  2,000    
Lewis County Public Utility District #1, Washington, Cowlitz Falls Refg Ser 2003 (MBIA Insd)
    5.00       10/01/22       2,051,740  
  3,020    
Port of Seattle, Washington, Passenger Facility Ser 1998 A (MBIA Insd)
    5.00       12/01/23       2,912,487  
  3,000    
Port of Seattle, Washington, Sub Lien Ser 1999 A (FGIC Insd)
    5.25       09/01/22       3,076,620  
       
 
                     
       
 
                    8,040,847  
       
 
                     
       
 
                       
       
Total Tax-Exempt Municipal Bonds (Cost $286,697,695)
                    263,023,914  
       
 
                     
                             
NUMBER OF  
                 
SHARES (000)  
                 
   
 
               
       
Short-Term Investment (1.4%)
                 
       
Investment Company (g)
                 
  2,402    
Morgan Stanley Institutional Liquidity Tax-Exempt Portfolio — Institutional Class (Cost $2,402,406)
              2,402,406  
       
 
                 
       
Total Investments (Cost $289,100,101)
              265,426,320  
       
 
                 
       
 
                   
PRINCIPAL  
                 
AMOUNT IN  
                 
THOUSANDS  
                 
   
 
               
       
Floating Rate Notes and Dealer Trusts Obligations Related to Securities Held (-15.3%)
                   
$ (24,870 )  
Notes with interest rates ranging from 0.43% to 1.53% at January 31, 2009 and contractual maturities of collateral ranging from 07/01/16 to 08/15/42 (h) (Cost ($24,870,000))
              (24,870,000 )
       
 
                 
       
Total Net Investments (Cost $264,230,101) (i) (j)
      148.2       240,556,320  
       
Other Assets in Excess of Liabilities
      1.7       2,728,985  
       
Preferred Shares of Beneficial Interest
      (49.9 )     (81,000,030 )
       
 
               
       
Net Assets Applicable to Common Shareholders
      100.0 %   $ 162,285,275  
       
 
               
       
                 


 

 
Note: The categories of investments are shown as a percentage of net assets applicable to common shareholders.
 
 
 
AMT   Alternative Minimum Tax.
 
COPs   Certificates of Participation.
 
ETM   Escrowed to Maturity.
 
PSF   Texas Permanent School Fund Guarantee Program.
 
ROLS   Reset Option Longs.
 
WI   Securities on when-issued basis.
 
(a)   Underlying security related to inverse floater entered into by the Trust.
 
(b)   Joint exemption in locations shown.
 
(c)   Security is a “step-up” bond where the coupon increases on a pre-determined future date.
 
(d)   A portion of this security has been physically segregated in connection with open futures contracts in the amount of $597,020.
 
(e)   Current coupon rate for inverse floating rate municipal obligations. This rate resets periodically as the auction rate on the related security changes. Position in inverse floating rate municipal obligations have a total value of $6,417,048 which represents 4.0% of net assets applicable to common shareholders.
 
(f)   Capital appreciation bond.
 
(g)   The Fund invests in Morgan Stanley Institutional Liquidity Tax-Exempt Portfolio — Institutional Class, an open-end management investment company managed by the Investment Adviser. Investment Advisory fees paid by the Fund are reduced by an amount equal to the advisory and administrative service fees paid by Morgan Stanley Institutional Liquidity Tax-Exempt Portfolio — Institutional Class with respect to assets invested by the Fund in Morgan Stanley Institutional Liquidity Tax-Exempt Portfolio — Institutional Class .
 
(h)   Floating rate note and dealer trusts obligations related to securities held – The Fund enters into transactions in which it transfers to Dealer Trusts (“Dealer Trusts”), fixed rate bonds in exchange for cash and residual interests in the Dealer Trusts’ assets and cash flows, which are in the form of inverse floating rate investments. The Dealer Trusts fund the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Fund to retain residual interest in the bonds. The Fund enters into shortfall agreements with the Dealer Trusts which commit the Fund to pay the Dealer Trusts, in certain circumstances, the difference between the liquidation value of the fixed rate bonds held by the Dealer Trusts and the liquidation value of the floating rate notes held by third parties, as well as any shortfalls in interest cash flows. The residual interests held by the Fund (inverse floating rate investments) include the right of the Fund (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2)to transfer the municipal bond from the Dealer Trusts to the Fund, thereby collapsing the Dealer Trusts. The Fund accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Fund’s investment assets, and the related floating rate notes reflected as Fund liabilities. The notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. At January 31, 2009, Fund investments with a value of $38,204,240 are held by the Dealer Trusts and serve as collateral for the $24,870,000 in floating rate note obligations outstanding at that date.
 
(i)   Securities have been designated as collateral in an amount equal to $72,845,298 in connection with open futures contracts and inverse floating rate municipal obligations.
 
(j)   The aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes.
 
 
 
 
Bond Insurance:
AGC Assured Guaranty Corporation.
AMBAC AMBAC Assurance Corporation.
BHAC Berkshire Hathaway Assurance Corporation.
FGIC Financial Guaranty Insurance Company.
FSA Financial Security Assurance Inc.
MBIA MBIAMunicipal Bond Investors Assurance Corporation.
XLCA XL Capital Assurance Inc.


 

Futures Contracts Open at January 31, 2009:
                           
                    UNREALIZED  
NUMBER OF       DESCRIPTION, DELIVERY   UNDERLYING FACE     APPRECIATION  
CONTRACTS   LONG/SHORT   MONTH AND YEAR   AMOUNT AT VALUE     (DEPRECIATION)  
 
112
  Long   U.S. Treasury Notes 10 Year, March 2009   $ 13,737,500     $ (137,120 )
22
  Long   Swap Futures 10 Year March 2009     2,553,719       (8,124 )
5
  Long   U.S. Treasury Notes 2 Year, March 2009     1,088,125       (1,652 )
26
  Short   U.S. Treasury Notes 5 Year, March 2009     (3,072,469 )     15,213  
70
  Short   U.S. Treasury Notes 20 Year, March 2009     (8,869,219 )     183,998  
193
  Short   Swap Futures 10 Year March 2009     (24,085,798 )     244,147  
 
                     
 
                       
 
      Net Unrealized Appreciation           $ 296,462  
 
                     


 

MS Quality Municipal Investment Trust
Notes to the Portfolio of Investments
FAS 157
1/31/2009
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“SFAS 157”), effective November 1, 2008. In accordance with SFAS 157, fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. SFAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Fund’s investments. The inputs are summarized in the three broad levels listed below.
    Level 1 — quoted prices in active markets for identical investments
 
    Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
 
    Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each security.
The following is a summary of the inputs used as of January 31, 2009 in valuing the Fund’s investments carried at value:
                                 
    Fair Value Measurements at January 31, 2009 Using  
            Quoted Prices In     Significant     Significant  
            Active Market for     Other Observable     Unobservable  
            Identical Assets     Inputs     Inputs  
    Total     (Level 1)     (Level 2)     (Level 3)  
Investments in Securities
  $ 265,426,320     $ 2,402,406     $ 263,023,914        
Other Financial Instruments*
    296,462       296,462              
 
                       
Total
  $ 265,722,782     $ 2,698,868     $ 263,023,914        
 
                       
 
*   Other financial instruments include futures contracts.
Valuation of Investments — (1) portfolio securities are valued by an outside independent pricing service approved by the Trustees. The pricing service uses both a computerized grid matrix of tax-exempt securities and evaluations by its staff, in each case based on information concerning market transactions and quotations from dealers which reflect the mean between the last reported bid and asked price. The portfolio securities are thus valued by reference to a combination of transactions and quotations for the same or other securities believed to be comparable in quality, coupon, maturity, type of issue, call provisions, trading characteristics and other features deemed to be relevant. The Trustees believe that timely and reliable market quotations are generally not readily available for purposes of valuing tax-exempt securities and that the valuations supplied by the pricing service are more likely to approximate the fair value of such securities; (2) futures are valued at the

 


 

latest sale price on the commodities exchange on which they trade unless it is determined that such price does not reflect their market value, in which case they will be valued at their fair value as determined in good faith under procedures established by and under the supervision of the Trustees; (3) interest rate swaps are marked- to-market daily based upon quotations from market makers; (4) investments in open-end mutual funds, including the Morgan Stanley Institutional Liquidity Funds, are valued at the net asset value as of the close of each business day; and (5) short-term debt securities having a maturity date of more than sixty days at time of purchase are valued on a mark-to-market basis until sixty days prior to maturity and thereafter at amortized cost based on their value on the 61st day. Short-term debt securities having a maturity date of sixty days or less at the time of purchase are valued at amortized cost.

 


 

Item 2. Controls and Procedures.
(a) The Trust’s principal executive officer and principal financial officer have concluded that the Trust’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust’s in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.
(b) There were no changes in the Trust’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 3. Exhibits.
(a) A separate certification for each principal executive officer and principal financial officer of the registrant are attached hereto.

2


 

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.
Morgan Stanley Quality Municipal Investment Trust
/s/ Randy Takian
Randy Takian
Principal Executive Officer
March 19, 2009
     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
/s/ Randy Takian
Randy Takian
Principal Executive Officer
March 19, 2009
/s/ Francis Smith
Francis Smith
Principal Financial Officer
March 19, 2009

3

EX-99.CERT 2 y74916cexv99wcert.htm EX-99.CERT: CERTIFICATIONS EX-99.CERT
Exhibit 3 A1
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
I, Randy Takian, certify that:
1.   I have reviewed this report on Form N-Q of Morgan Stanley Quality Municipal Investment Trust;
 
2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.   Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
 
4.   The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:
  (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
  (b)   Omitted;
 
  (c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
 
  (d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.   The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
  (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
  (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: March 19, 2009
         
     
  /s/ Randy Takian    
  Randy Takian   
  Principal Executive Officer   
 

4


 

Exhibit 3 A2
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER
I, Francis Smith, certify that:
1.   I have reviewed this report on Form N-Q of Morgan Stanley Quality Municipal Investment Trust;
 
2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.   Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
 
4.   The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:
  (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
  (b)   Omitted;
 
  (c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
 
  (d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.   The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
  (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
  (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: March 19, 2009
         
     
  /s/ Francis Smith    
  Francis Smith   
  Principal Financial Officer   
 

5

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