-----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, Bq9Wa4Iwvkc97KBSSxvWYey8vCHXus0CkbGs5TFBjiHukgmcCy4vbwVHY7PWvOU5 7FJKd3JWUmHCvkFJOk7VDA== 0000950123-10-030991.txt : 20100331 0000950123-10-030991.hdr.sgml : 20100331 20100331171950 ACCESSION NUMBER: 0000950123-10-030991 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100131 FILED AS OF DATE: 20100331 DATE AS OF CHANGE: 20100331 EFFECTIVENESS DATE: 20100331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY QUALITY MUNICIPAL INVESTMENT TRUST 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: 10720462 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 TRUS DATE OF NAME CHANGE: 20011220 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 N-Q 1 y82943dnvq.htm FORM N-Q nvq
 
 
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, 2010
Date of reporting period: January 31, 2010
 
 
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, 2010 (unaudited)
                                       
PRINCIPAL                        
AMOUNT IN         COUPON       MATURITY        
THOUSANDS         RATE       DATE     VALUE  
 
       
Tax-Exempt Municipal Bonds (152.3%)
                       
       
Alabama (0.9%)
                       
$ 2,000    
County of Jefferson, School Ser 2004 A
    5.50 %     01/01/22     $ 1,705,960  
       
 
                     
       
Alaska (1.1%)
                       
  3,000    
Northern Tobacco Securitization Corp., Asset Backed Ser 2006 A
    5.00       06/01/46       2,025,750  
       
 
                     
       
Arizona (0.8%)
                       
  400    
Maricopa County Pollution Control Corp., Arizona Public Service Co. Ser 2009 A
    6.00       05/01/29       420,976  
  985    
State of Arizona, Ser 2008 A (COPs) (AGM Insd)
    5.00       09/01/24       1,035,087  
       
 
                     
       
 
                    1,456,063  
       
 
                     
       
California (22.1%)
                       
  985    
Alhambra Unified School District, Ser 2009 B (AGC Insd) (a)
    0.00       08/01/35       194,134  
  1,590    
Alhambra Unified School District, Ser 2009 B (AGC Insd) (a)
    0.00       08/01/36       292,544  
  690    
Alvord Unified School District, Ser 2007 A (AGM Insd)
    5.00       08/01/23       733,346  
  1,000    
Bay Area Toll Authority, San Francisco Bay Area Toll Bridge Ser 2007 F
    5.00       04/01/31       1,025,980  
  680    
Beverly Hills Unified School District, Election of 2008 Ser 2009 (a)
    0.00       08/01/26       290,952  
  1,310    
Beverly Hills Unified School District, Election of 2008 Ser 2009 (a)
    0.00       08/01/31       403,624  
  3,000    
California Health Facilities Financing Authority, Cedars-Sinai Medical Center Ser 2005
    5.00       11/15/34       2,817,360  
  2,000    
California Infrastructure & Economic Development Bank, The Scripps Research Institute Ser 2005 A
    5.00       07/01/29       2,057,260  
  3,000    
California Statewide Communities Development Authority, John Muir Health Ser 2006 A
    5.00       08/15/32       2,870,910  
  540    
City & County of San Francisco, Refg Laguna Honda Hospital Ser 2008 R-3 (AGC Insd) (b)
    5.00       06/15/28       553,084  
  2,000    
City of Los Angeles, Ser 2004 A (NATL-RE Insd)
    5.00       09/01/24       2,135,200  
  340    
Clovis Unified School District, Election of 2004 Ser A (NATL-RE & FGIC Insd) (a)
    0.00       08/01/29       104,118  
  430    
Dry Creek Joint Elementary School District, Election 2008 Ser 2009 (a)
    0.00       08/01/41       51,510  
  5,265    
Dry Creek Joint Elementary School District, Election 2008 Ser 2009 E (a)
    0.00       08/01/42       589,627  
  770    
Dry Creek Joint Elementary School District, Election 2008 Ser 2009 E (a)
    0.00       08/01/43       80,457  
  1,775    
El Segundo Unified School District, Election of 2008 Ser 2009 A (a)
    0.00       08/01/31       456,992  
  1,500    
Golden State Tobacco Securitization Corp., Enhanced Asset Backed Ser 2005 A
    5.00       06/01/45       1,241,265  
  3,000    
Golden State Tobacco Securitization Corp., Enhanced Asset Backed Ser 2005 A (AMBAC Insd)
    5.00       06/01/29       2,742,480  
  3,700    
Golden State Tobacco Securitization Corp., Enhanced Asset Backed Ser 2007 A-1
    5.125       06/01/47       2,555,701  
  1,100    
Golden State Tobacco Securitization Corp., Enhanced Asset Backed Ser 2007 A-1
    5.75       06/01/47       840,015  
  585    
Indio Redevelopment Agency, Ser 2008 A
    5.00       08/15/24       569,076  
  1,920    
Los Angeles Department of Water & Power, 2004 Ser C (NATL-RE Insd) (b)
    5.00       07/01/23       2,007,187  
  975    
Menifee Union School District, Election of 2008 Ser 2009 C (AGC Insd) (a)
    0.00       08/01/34       207,734  
  1,090    
Moreland School District, Ser 2014 C (AMBAC Insd) (a)
    0.00       08/01/29       318,324  
  790    
Oak Grove School District, Election 2008 Ser A (a)
    0.00       08/01/28       254,301  

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
 
$ 4,000    
Oxnard Financing Authority, Redwood Trunk Sewer & Headworks Ser 2004 A (NATL-RE & FGIC Insd)
    5.00 %     06/01/29     $ 4,026,080  
  110    
Port of Oakland, Ser 2002 L (AMT) (NATL-RE & FGIC Insd)
    5.00       11/01/12  (c)     122,473  
  890    
Port of Oakland, Ser 2002 L (AMT) (NATL-RE & FGIC Insd)
    5.00       11/01/21       870,820  
  1,965    
Poway Unified School District, School Facilities Improvement District No. 07-1, 2008 Election Ser A (a)
    0.00       08/01/27       679,379  
  2,455    
Poway Unified School District, School Facilities Improvement District No. 2007-1, 2008 Election Ser A (a)
    0.00       08/01/31       632,064  
  10,800    
San Bernardino Community College District, Election 2008 Ser B (a)
    0.00       08/01/44       1,089,288  
  4,610    
San Bernardino Community College District, Ser 2009 B (a)
    0.00       08/01/48       341,186  
  3,300    
San Jose Evergreen Community College District, Election Ser 2008 B (AGM Insd) (a)
    0.00       09/01/30       934,626  
  450    
San Rafael City High School District, Election Ser 2002 B (NATL-RE & FGIC Insd) (a)
    0.00       08/01/25       183,771  
  3,000    
State of California, Various Purpose dtd 05/01/03
    5.00       02/01/24       3,005,730  
  2,000    
Tobacco Securitization Authority of Northern California, Sacramento County Tobacco Securitization Corporation Ser 2006 A-1
    5.00       06/01/37       1,515,500  
  850    
Twin Rivers Unified School District, Ser 2009 (BANs) (a)
    0.00       04/01/14       743,784  
  6,300    
William S. Hart Union High School District, Ser 2009 A (a)
    0.00       08/01/32       1,438,983  
       
 
                     
       
 
                    40,976,865  
       
 
                     
       
Colorado (1.0%)
                       
  1,585    
Colorado Educational & Cultural Facilities Authority, Peak to Peak Charter School Refg & Impr Ser 2004 (XLCA Insd)
    5.25       08/15/34       1,550,717  
  175    
Colorado Housing & Finance Authority, 2000 Ser D-2 (AMT)
    6.90       04/01/29       188,650  
  160    
Public Authority for Colorado Energy, Natural Gas Ser 2008
    6.25       11/15/28       172,171  
       
 
                     
       
 
                    1,911,538  
       
 
                     
       
District of Columbia (4.9%)
                       
  1,500    
District of Columbia, Income Tax, Ser 2009 A (b)
    5.25       12/01/27       1,654,405  
  380    
District of Columbia, Ser 2008 E (BHAC Insd) (b)
    5.00       06/01/26       402,766  
  380    
District of Columbia, Ser 2008 E (BHAC Insd) (b)
    5.00       06/01/27       402,766  
  760    
District of Columbia, Ser 2008 E (BHAC Insd) (b)
    5.00       06/01/28       805,533  
  2,000    
District of Columbia Ballpark, Ser 2006 B-1 (NATL-RE & FGIC Insd)
    5.00       02/01/31       1,813,900  
  575    
District of Columbia Water & Sewer Authority, Public Utility Ser 2008 A (AGC Insd)
    5.00       10/01/27       600,881  
  265    
District of Columbia Water & Sewer Authority, Refg Sub-Lien Ser 2008 A (AGC Insd)
    5.00       10/01/28       275,568  
  3,000    
Metropolitan Washington Airports Authority, Ser 2004 C-1 (AMT) (AGM Insd) (d)
    5.00       10/01/20       3,048,120  
       
 
                     
       
 
                    9,003,939  
       
 
                     
       
Florida (16.9%)
                       
  1,900    
City of Jacksonville, Sales Tax Ser 2001 (AMBAC Insd)
    5.50       10/01/18       2,014,855  
  2,000    
County of Martin, Utilities Ser 2001 (FGIC Insd)
    5.00       10/01/26       2,025,800  
  1,000    
County of Miami-Dade, Building Better Communities Program Ser 2009 B-1
    6.00       07/01/38       1,104,150  
  800    
County of Miami-Dade, Miami Int’l Airport Ser 2009 A (AGC Insd)
    5.00       10/01/25       831,680  

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
 
$ 1,000    
County of Miami-Dade, Ser 2005 A (NATL-RE Insd)
    0.00 % (e)     10/01/30     $ 721,860  
  6,890    
Florida State Board of Education, Capital Outlay Refg Ser 2001 D
    5.375       06/01/18       7,485,916  
  945    
Florida State Mid-Bay Bridge Authority, Ser 2008 (AGC Insd)
    5.00       10/01/22       1,029,010  
  3,000    
Highlands County Health Facilities Authority, Adventist Health Refg Ser
2005 C
    5.00       11/15/31       2,918,250  
  1,300    
Miami-Dade County Educational Facilities Authority, University of Miami Ser 2008 A (CR) (BHAC Insd)
    5.50       04/01/38       1,350,830  
  750    
Palm Beach County Solid Waste Authority, Ser 2009 (BHAC Insd)
    5.50       10/01/23       845,678  
  8,000    
South Miami Health Facilities Authority, Baptist Health South Florida Ser 2007 (b)
    5.00       08/15/42       7,498,592  
  1,000    
St Johns County Industrial Development Authority, Glenmoor Refg 2006 Ser A
    5.375       01/01/40       711,600  
  1,000    
Tampa Bay Water Utility System Revenue, Ser 2001 A (NATL-RE & FGIC Insd)
    6.00       10/01/29       1,189,990  
  1,545    
Tampa Sports Authority, Sales Tax Refg Ser 2005 (AGM Insd)
    5.00       01/01/26       1,595,228  
       
 
                     
       
 
                    31,323,439  
       
 
                     
       
Georgia (7.1%)
                       
  2,000    
City of Atlanta, Airport Ser 2004 J (AGM Insd)
    5.00       01/01/34       2,005,980  
  5,000    
Georgia State Road & Tollway Authority, Ser 2001
    5.375       03/01/17       5,413,500  
  2,000    
Georgia State Road & Tollway Authority, Ser 2003
    5.00       10/01/22       2,123,860  
  2,000    
Municipal Electric Authority of Georgia, Combustion Turbine Ser 2002 A (NATL-RE Insd)
    5.25       11/01/21       2,112,900  
  1,500    
Municipal Electric Authority of Georgia, Combustion Turbine Ser 2002 A (NATL-RE Insd)
    5.25       11/01/22       1,569,300  
       
 
                     
       
 
                    13,225,540  
       
 
                     
       
Idaho (0.5%)
                       
  1,000    
Madison County Hospital, Madison Memorial Hospital Ser 2006 (COPs)
    5.25       09/01/37       865,710  
       
 
                     
       
Illinois (6.6%)
                       
  1,035    
Chicago Transit Authority, Capital Grant Receipts Ser 2008 (AGC Insd)
    5.25       06/01/24       1,100,401  
  2,000    
City of Chicago, O’ Hare Int’l Airport Third Lien Ser 2003 B-2 (AMT) (AGM Insd)
    5.75       01/01/23       2,065,660  
  4,470    
City of Chicago, Project & Refg Ser 2007 A (FGIC & AGM Insd) (CR) (b)(f)
    5.00       01/01/37       4,495,792  
  710    
De Kalb County Community United School District No. 428 (AGM Insd)
    5.00       01/01/23       766,282  
  935    
Illinois Finance Authority, Northwestern Memorial Hospital Ser 2009 B
    5.375       08/15/24       1,001,637  
  930    
Illinois Finance Authority, Resurrection Health Center, Refg Ser 2009
    6.125       05/15/25       925,155  
  400    
Illinois Finance Authority, Rush University Medical Center Obligated Group Ser 2009 A
    7.25       11/01/38       437,896  
  655    
Illinois Finance Authority, Swedish Covenant Hospital Ser 2010 A
    5.75       08/15/29       648,915  
  695    
Illinois Finance Authority, Swedish Covenant Hospital Ser 2010 A
    6.00       08/15/38       689,343  
       
 
                     
       
 
                    12,131,081  
       
 
                     
       
Indiana (1.7%)
                       
  2,700    
Indiana Health & Educational Facilities Financing Authority, Clarian Health Ser 2006 A
    5.25       02/15/40       2,540,889  
  510    
Rockport, Indian Michigan Power Company Project Refg Ser 2009 B
    6.25       06/01/25       567,987  
       
 
                     
       
 
                    3,108,876  
       
 
                     

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
 
       
Iowa (3.1%)
                       
$ 2,200    
City of Coralville, Marriot Hotel & Convention Center Ser 2006 D (COPs)
    5.25 %     06/01/26     $ 2,241,382  
  1,275    
City of Coralville, Urban Renewal Ser 2007 C
    5.00       06/01/47       1,085,764  
  1,320    
State of Iowa, IJOBS Program Ser 2009 A (b)(f)
    5.00       06/01/25       1,433,048  
  990    
State of Iowa, IJOBS Program Ser 2009 A (b)(f)
    5.00       06/01/26       1,069,290  
       
 
                     
       
 
                    5,829,484  
       
 
                     
       
Kansas (0.3%)
                       
  455    
Kansas Development Finance Authority Hospital Revenue, Adventist Health System Sunbelt Obligated Group Ser 2009 C
    5.50       11/15/29       479,984  
       
 
                     
       
Kentucky (3.5%)
                       
  2,925    
Louisville & Jefferson County Metropolitan Sewer District, Ser 2001 A (NATL-RE Insd)
    5.375       05/15/20       3,143,351  
  3,075    
Louisville & Jefferson County Metropolitan Sewer District, Ser 2001 A (NATL-RE Insd)
    5.375       05/15/21       3,278,135  
       
 
                     
       
 
                    6,421,486  
       
 
                     
       
Maryland (3.5%)
                       
  685    
County of Baltimore, Oak Crest Village Ser 2007 A
    5.00       01/01/37       599,813  
  670    
Maryland Economic Development Corp., Ser B
    5.75       06/01/35       679,326  
  1,440    
Maryland Health & Higher Educational Facilities Authority, King Farm Presbyterian Community 2006 Ser B
    5.00       01/01/17       1,321,791  
  3,000    
Maryland Health & Higher Educational Facilities Authority, Medstar Health Refg Ser 2004
    5.375       08/15/24       3,074,520  
  900    
Maryland Health & Higher Educational Facilities Authority, University of Maryland Medical Ser 2006 A
    5.00       07/01/41       873,603  
       
 
                     
       
 
                    6,549,053  
       
 
                     
       
Massachusetts (4.9%)
                       
  415    
Massachusetts Bay Transportation Authority, Balanced Assessment 2007 Ser 2000 A
    5.25       07/01/30       418,905  
  1,400    
Massachusetts Health & Educational Facilities Authority, Boston College Ser M-2
    5.50       06/01/30       1,653,554  
  4,715    
Massachusetts Health & Educational Facilities Authority, Harvard University Ser A (b)
    5.50       11/15/36       5,235,642  
  1,530    
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute of Technology Ser O (b)
    5.50       07/01/36       1,697,795  
       
 
                     
       
 
                    9,005,896  
       
 
                     
       
Michigan (2.4%)
                       
  875    
City of Detroit Water Supply System, Refg Ser 2006 C (AGM Insd)
    5.00       07/01/26       882,613  
  3,500    
Michigan Strategic Fund, Detroit Edison Co Ser 2001 C
    5.45       09/01/29       3,512,985  
       
 
                     
       
 
                    4,395,598  
       
 
                     
       
Missouri (0.8%)
                       
  730    
City of Fenton, Gravois Bluffs Refg Ser 2006
    4.50       04/01/21       717,378  
  750    
Missouri State Health & Educational Facilities Authority, Lutheran Senior Services Ser 2005 A
    5.375       02/01/35       686,070  
       
 
                     
       
 
                    1,403,448  
       
 
                     
       
Nevada (4.1%)
                       
  2,000    
County of Clark, Airport Sub Lien Ser 2004 A-1 (AMT) (NATL-RE & FGIC Insd)
    5.50       07/01/22       2,029,260  
  500    
County of Clark, McCarran International Airport Ser 2010 A
    5.125       07/01/34       489,410  
  400    
Las Vegas Redevelopment Agency, Tax Increment Ser 2009 A
    6.25       06/15/16       444,968  
  2,925    
Las Vegas Valley Water District, Improvement and Refg Ser 2003 A (NATL-RE & FGIC Insd)
    5.25       06/01/22       3,045,890  

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
 
$ 1,600    
State of Nevada, Capital Improvement & Cultural Affairs Ser 2008 C (AGM Insd) (b)
    5.00 %     06/01/26     $ 1,671,152  
       
 
                     
       
 
                    7,680,680  
       
 
                     
       
New Jersey (8.5%)
                       
  385    
New Jersey Economic Development Authority, Cigarette Tax Ser 2004
    5.75       06/15/34       367,517  
  2,750    
New Jersey State Turnpike Authority, Ser 2003 A (AMBAC Insd)
    5.00       01/01/30       2,794,798  
  4,135    
New Jersey Transportation Trust Fund Authority, Ser 2006 C (AGC Insd) (a)
    0.00       12/15/26       1,721,194  
  6,900    
State of New Jersey, 2001 Ser H
    5.25       07/01/19       8,067,066  
  3,000    
Tobacco Settlement Financing Corp., Ser 2007-1 A
    4.625       06/01/26       2,499,720  
  3,000    
Tobacco Settlement Financing Corp., Ser 2007-1 B (a)
    0.00       06/01/41       193,530  
       
 
                     
       
 
                    15,643,825  
       
 
                     
       
New Mexico (0.5%)
                       
  920    
New Mexico Finance Authority, Senior Lien Public Project Revolving Fund Ser 2008 A
    5.00       06/01/27       996,516  
       
 
                     
       
New York (13.1%)
                       
  460    
Brooklyn Arena Local Development Corp., Ser 2009
    6.25       07/15/40       473,588  
  190    
Brooklyn Arena Local Development Corp., Ser 2009
    6.375       07/15/43       194,836  
  1,840    
City of New York, 2009 Subser A-1 (b)
    5.25       08/15/27       1,977,972  
  1,840    
City of New York, 2009 Subser A-1 (b)
    5.25       08/15/28       1,977,972  
  1,500    
Long Island Power Authority, Ser 2004 A (AMBAC Insd)
    5.00       09/01/34       1,517,085  
  3,000    
Metropolitan Transportation Authority, State Service Contract Refg Ser 2002 B (NATL-RE Insd)
    5.50       07/01/20       3,234,810  
  3,000    
New York City Municipal Water Finance Authority, 2003 Ser A
    5.375       06/15/18       3,253,590  
  1,270    
New York City Transitional Finance Authority, 2009 Subser A-1 (b)
    5.00       05/01/28       1,356,737  
  1,015    
New York City Transitional Finance Authority, 2009 Subser A-1 (b)
    5.00       05/01/29       1,084,321  
  1,015    
New York City Transitional Finance Authority, 2009 Subser A-1 (b)
    5.00       05/01/30       1,084,321  
  3,700    
New York City Trust for Cultural Resources, The Museum of Modern Art, Refg Ser 2008-1 A (b)
    5.00       04/01/26       4,006,295  
  1,500    
New York State Dormitory Authority, Mental Health Services Facilities Improvement Ser A (AGM Insd)
    5.00       02/15/27       1,583,730  
  1,700    
New York State Energy Research & Development Authority, Brooklyn Union Gas Co. 1991 Ser B (AMT)
    12.679  (g)     07/01/26       1,705,389  
  1,000    
Seneca Nation Indians, Ser 2007 A (h)
    5.00       12/01/23       827,320  
       
 
                     
       
 
                    24,277,966  
       
 
                     
       
North Carolina (1.2%)
                       
  1,100    
North Carolina Medical Care Commission, Salemtown Refg Ser 2006
    5.10       10/01/30       963,457  
  1,200    
University of North Carolina at Chapel Hill, Chapel Hill Ser 2003
    5.00       12/01/24       1,295,460  
       
 
                     
       
 
                    2,258,917  
       
 
                     
       
Ohio (3.5%)
                       
  3,000    
American Municipal Power-Ohio Inc, Prairie State Energy Campus Ser 2008 A (AGC Insd) (b)
    5.25       02/15/33       3,122,238  
  3,000    
County of Lorain, Catholic Healthcare Partners Ser 2001 A
    5.75       10/01/18       3,107,040  

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
 
$ 255    
Ohio State Water Development Authority, Ser 2009 A
    5.875 %     06/01/33     $ 277,695  
       
 
                     
       
 
                    6,506,973  
       
 
                     
       
Pennsylvania (3.5%)
                       
  2,000    
Allegheny County Hospital Development Authority, West Penn Allegheny Health Ser 2007 A
    5.375       11/15/40       1,481,100  
  5,000    
Pennsylvania Turnpike Commission, Ser 2004 A (AMBAC Insd)
    5.00       12/01/34       5,016,700  
       
 
                     
       
 
                    6,497,800  
       
 
                     
       
Puerto Rico (1.3%)
                       
  855    
Puerto Rico Sales Tax Financing Corp., Ser 2009 A
    5.00       08/01/39       898,075  
  700    
Puerto Rico Sales Tax Financing Corp., Ser 2010 A
    5.375       08/01/39       691,320  
  750    
Puerto Rico Sales Tax Financing Corp., Ser 2010 A
    5.50       08/01/42       744,382  
       
 
                     
       
 
                    2,333,777  
       
 
                     
       
South Carolina (6.1%)
                       
  3,000    
Charleston Educational Excellence Finance Corp., Charleston County School District Ser 2005
    5.25       12/01/29       3,097,110  
  205    
County of Richland, Environmental Improvement, Paper Co. Ser 2007 A
    4.60       09/01/12       207,636  
  40    
Lexington County Health Services District, Inc., Ser 2007 A
    5.00       11/01/16       43,188  
  4,000    
South Carolina State Public Service Authority, Santee Cooper Ser 2003 A (AMBAC Insd) (b)
    5.00       01/01/27       4,195,432  
  1,500    
South Carolina State Public Service Authority, Santee Cooper, 2002 Refg Ser A (AGM Insd)
    5.125       01/01/20       1,615,215  
  1,000    
South Carolina State Public Service Authority, Santee Cooper, 2002 Refg Ser A (AGM Insd)
    5.125       01/01/21       1,072,680  
  1,000    
South Carolina Transportation Infrastructure Bank, Ser 2002 A (AMBAC Insd)
    5.25       10/01/22       1,050,830  
       
 
                     
       
 
                    11,282,091  
       
 
                     
       
Tennessee (0.6%)
                       
  1,005    
Tennessee Energy Acquisition Corp., Ser 2006 A
    5.25       09/01/19       1,023,371  
       
 
                     
       
Texas (17.5%)
                       
  1,090    
Aldine Independent School District, Bldg & Refg Ser 2001 (PSF-GTD)
    5.00       02/15/26       1,125,349  
  2,000    
Alliance Airport Authority, Federal Express Corp. Refg Ser 2006 (AMT)
    4.85       04/01/21       1,975,100  
  590    
Bexar County Health Facilities Development Corp.
    6.20       07/01/45       592,207  
  1,360    
City of Austin, Water & Wastewater ROLS RR II R-574 (AGM Insd)
    14.197 (g)     05/15/10       1,530,571  
  3,180    
City of Houston, Combined Utility First Lien Refg 2004 Ser A (NATL-RE & FGIC Insd)
    5.25       05/15/23       3,357,444  
  4,500    
City of Houston, Combined Utility First Lien Refg Ser 2004 A (AGM Insd)
    5.25       05/15/25       4,722,570  
  2,300    
City of Houston, Hotel Occupancy Ser 2001 B (CR) (AGM & AMBAC Insd) (a)
    0.00       09/01/25       1,000,753  
  1,485    
County of Harris, Ser 2007 C (AGM Insd)
    5.25       08/15/31       1,704,602  
  5,000    
Dallas-Fort Worth International Airport Facilities Improvement Corp, Ser 2003 A (AMT) (AGM Insd) (b)
    5.375       11/01/22       5,116,900  
  555    
Friendswood Independent School District, Schoolhouse Ser 2008 (PSF-GTD)
    5.00       02/15/25       606,976  
  1,335    
Harris County Health Facilities Development Corp., TECO Project Ser 2008 (AGC Insd)
    5.25       11/15/23       1,439,237  
  350    
Harris County Industrial Development Corp., Deer Park Refinancing Project
    5.00       02/01/23       349,965  
  420    
Houston Community College System, Sr-Lien-Student Fee Ser 2008 (AGM Insd)
    5.00       04/15/23       453,827  

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
                                 
PRINCIPAL                        
AMOUNT IN         COUPON     MATURITY        
THOUSANDS         RATE     DATE     VALUE  
 
$ 5,100    
North Texas Tollway Authority, Refg Ser 2008 D (AGC Insd) (a)
    0.00 %     01/01/28     $ 1,836,816  
  1,025    
North Texas Tollway Authority, Refg Ser 2008 D (AGC Insd) (a)
    0.00       01/01/31       302,426  
  1,000    
Tarrant County Cultural Education Facilities Finance Corp., Air Force Village II Inc Ser 2007
    5.125       05/15/37       833,020  
  835    
Texas A&M University, Financing System Ser 2009 A
    5.00       05/15/26       915,886  
  890    
Texas A&M University, System Health Science Center Ser 2009 A
    5.00       05/15/25       981,056  
  520    
Texas Private Activity Bond Surface Transportation Corp., Senior Lien
    6.875       12/31/39       543,644  
  3,000    
University of Houston, Ser 2008 (AGM Insd) (b)
    5.00       02/15/33       3,079,860  
       
 
                     
       
 
                    32,468,209  
       
 
                     
       
Utah (1.6%)
                       
  3,000    
City of Salt Lake City, IHC, Hospital, Inc. Refg Ser 1991 (ETM) (AMBAC Insd)
    12.974 (g)     05/15/20       3,032,730  
       
 
                     
       
Virginia (0.9%)
                       
  1,750    
Fairfax County Economic Development Authority, Goodwin House, Inc. Ser 2007
    5.125       10/01/37       1,606,045  
       
 
                     
       
Washington (7.2%)
                       
  2,000    
Lewis County Public Utility District No. 1, Cowlitz Falls Refg Ser 2003 (NATL-RE Insd)
    5.00       10/01/22       2,084,020  
  3,020    
Port of Seattle, Passenger Facility Ser 1998 A (NATL-RE Insd)
    5.00       12/01/23       3,027,459  
  3,000    
Port of Seattle, Sub Lien Ser 1999 A (NATL-RE & FGIC Insd)
    5.25       09/01/22       3,117,090  
  2,315    
State of Washington, Various Purpose Ser 2010 A (b)
    5.00       08/01/29       2,472,902  
  2,435    
State of Washington, Various Purpose Ser 2010 A (b)
    5.00       08/01/30       2,601,088  
       
 
                     
       
 
                    13,302,559  
       
 
                     
       
Wisconsin (0.6%)
                       
  1,000    
State of Wisconsin, Ser 2009 A
    5.625       05/01/28       1,104,240  
       
 
                     
       
Total Tax-Exempt Municipal Bonds (Cost $278,387,582)
                    281,835,409  
       
 
                     
                                 
NUMBER OF                              
SHARES (000)                              
       
Investment Company
                       
  1,595    
Morgan Stanley Institutional Liquidity Funds — Tax-Exempt Portfolio — Institutional Class (Cost $1,594,967)
                1,594,967  
       
 
                   
       
Total Investments (Cost $279,982,549) (j)(k)
    153.2 %             283,430,376  
       
Liabilities in Excess of Other Assets
    (0.4 )             (698,945 )
       
Floating Rate Note and Dealer Trusts Obligations Related to Securities Held
                       
       
 
                       
       
Notes with interest rates ranging from 0.18% to 0.35% at January 31, 2010 and contractual maturities of collateral ranging from 11/01/22 to 08/15/42 (l)
    (19.1 )             (35,340,000 )
       
Preferred Shares of Beneficial Interest
    (33.7 )             (62,350,000 )
       
 
                   
       
Net Assets Applicable to Common Shareholders
    100.0 %           $ 185,041,431  
       
 
                   
 
Note: The categories of investments are shown as a percentage of net assets applicable to common shareholders.
 
AMT   Alternative Minimum Tax.
 
BANs   Bond Anticipation Notes.
 
COPs   Certificates of Participation.
 
CR   Custodial Receipts.
 
ETM   Escrowed to Maturity.
 
PSF   Texas Permanent School Fund Guarantee Program.
 
ROLS   Reset Option Longs.
 
(a)   Capital appreciation bond.
 
(b)   Underlying security related to inverse floater entered into by the Trust.
 
(c)   Prefunded to call date shown.

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited) continued
     
(d)   Joint exemption.
 
(e)   Security is a “step-up” bond where the coupon increases on a predetermined future date.
 
(f)   Security is subject to a shortfall agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the inverse floater. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $4,535,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the inverse floater.
 
(g)   Current coupon rate for an inverse floating rate municipal obligation. This rate resets periodically as the auction rate on the related security changes. Position in an inverse floating rate municipal obligation has a total value of $6,268,690 which represents 3.4% of net assets.
 
(h)   Resale is restricted to qualified institutional investors.
 
(i)   The Trust invests in Morgan Stanley Institutional Liquidity Funds — Tax Exempt Portfolio — Institutional Class, an open-end management investment company managed by the Investment Adviser. Investment advisory fees paid by the Trust are reduced by an amount equal to the advisory and administrative service fees paid by Morgan Stanley Institutional Liquidity Funds — Tax Exempt Portfolio — Institutional Class with respect to assets invested by the Trust in Morgan Stanley Institutional Liquidity Funds — Tax Exempt Portfolio — Institutional Class.
 
(j)   Securities have been designated as collateral in connection with inverse floating rate municipal obligations.
 
(k)   The aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes.
 
(l)   Floating rate note obligations related to securities held — The Trust 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 Trust to retain residual interest in the bonds. The Trust enters into shortfall agreements with the Dealer Trusts which commit the Trust 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 Trust (inverse floating rate investments) include the right of the Trust (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 Trust, thereby collapsing the Dealer Trusts. The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust 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, 2010, Trust investments with a value of $61,003,089 are held by the Dealer Trusts and serve as collateral for the $35,340,000 in floating rate note obligations outstanding at that date.
Bond Insurance:
 
AGC   Assured Guaranty Corporation.
 
AGM   Assured Guaranty Municipal Corporation.
 
AMBAC   AMBAC Assurance Corporation.
 
BHAC   Berkshire Hathaway Assurance Corporation.
 
FGIC   Financial Guaranty Insurance Company.
 
NATL-RE   National Public Finance Guarantee Corporation.
 
XLCA   XL Capital Assurance Inc.

 


 

Morgan Stanley Quality Municipal Investment Trust*
Portfolio of Investments § January 31, 2010 (unaudited)
Fair Valuation Measurements
Fair value is defined as the price that the Trust 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. GAAP utilizes 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 Trust’s investments. The inputs are summarized in the three broad levels listed below.
      Level 1 — unadjusted 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 Trust’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 the summary of the inputs used as of January 31, 2010 in valuing the Trust’s investments carried at fair value:
                                 
    FAIR VALUE MEASUREMENTS AT JANUARY 31, 2010 USING  
            UNADJUSTED              
            QUOTED PRICES IN              
            ACTIVE MARKET     OTHER        
            FOR     SIGNIFICANT     SIGNIFICANT  
            IDENTICAL     OBSERVABLE     UNOBSERVABLE  
            INVESTMENTS     INPUTS     INPUTS  
INVESTMENT TYPE   TOTAL     (LEVEL 1)     (LEVEL 2)     (LEVEL 3)  
Tax-Exempt Municipal Bonds
  $ 281,835,409           $ 281,835,409        
Short-Term Investment — Investment Company
    1,594,967     $ 1,594,967              
 
                       
Total
  $ 283,430,376     $ 1,594,967     $ 281,835,409        
                         
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 ask 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 represent 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, which approximates market value.
 
*   Morgan Stanley announced on October 19, 2009 that it has entered into a definitive agreement to sell substantially all of its retail asset management business to Invesco Ltd. (“Invesco”), a leading global investment management company. The Trustees of the Trust approved an Agreement and Plan of Reorganization (the “Plan”). Pursuant to the Plan, substantially all of the assets of the Trust would be combined with those of a newly organized mutual fund advised by an affiliate of Invesco Ltd. (the “New Trust”). Pursuant to the Plan, shareholders of the Trust would become shareholders of the New Trust, receiving shares of such New Trust equal to the value of their holdings in the Trust. The Plan is subject to the approval of the Trust’s shareholders at a special meeting of shareholders anticipated to be held during the second quarter of 2010.

 


 

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 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.

 


 

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 23, 2010
     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 23, 2010
/s/ Francis Smith
Francis Smith
Principal Financial Officer
March 23, 2010

 

EX-99.CERT 2 y82943dexv99wcert.htm EX-99.CERT exv99wcert
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 23, 2010
/s/ Randy Takian
Randy Takian
Principal Executive Officer

 


 

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 23, 2010
/s/ Francis Smith
Francis Smith
Principal Financial Officer

 

-----END PRIVACY-ENHANCED MESSAGE-----