Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-6385
 
Nuveen Ohio Quality Income Municipal Fund, Inc.
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            2/28          
 
Date of reporting period:         5/31/12         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 
 
Item 1. Schedule of Investments
 

 
           
   
Portfolio of Investments (Unaudited)
      
   
Nuveen Ohio Quality Income Municipal Fund, Inc. (NUO)
      
   
May 31, 2012
      
 
 
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Staples – 7.4% (5.3% of Total Investments)
      
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
      
   
Bonds, Senior Lien, Series 2007A-2:
      
$ 4,000
  
5.125%, 6/01/24
6/17 at 100.00
B
$ 3,213,360
11,945
  
5.875%, 6/01/47
6/17 at 100.00
BB
9,131,472
115
  
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
8/12 at 100.00
BBB+
114,782
   
Series 2002, 5.375%, 5/15/33
      
16,060
  
Total Consumer Staples
    
12,459,614
   
Education and Civic Organizations – 12.3% (8.9% of Total Investments)
      
920
  
Miami University of Ohio, General Receipts Bonds, Series 2011, 5.000%, 9/01/36
9/21 at 100.00
AA
1,044,936
1,650
  
Ohio Higher Education Facilities Commission, General Revenue Bonds, Kenyon College, Series
7/16 at 100.00
A+
1,719,432
   
2006, 5.000%, 7/01/41
      
1,750
  
Ohio Higher Education Facilities Commission, General Revenue Bonds, Oberlin College, Series
10/13 at 100.00
AA
1,835,418
   
2003, 5.125%, 10/01/24
      
1,000
  
Ohio Higher Education Facilities Commission, Revenue Bonds, Wittenberg University, Series
12/15 at 100.00
Ba1
929,400
   
2005, 5.000%, 12/01/29
      
2,420
  
Ohio Higher Educational Facilities Commission, General Revenue Bonds, University of Dayton,
12/16 at 100.00
A
2,566,313
   
2006 Project, Series 2006, 5.000%, 12/01/30 – AMBAC Insured
      
1,415
  
Ohio Higher Educational Facilities Commission, Revenue Bonds, Denison University, Series 2004,
11/14 at 100.00
AA
1,509,904
   
5.000%, 11/01/21
      
1,320
  
Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Series
12/14 at 100.00
A
1,379,849
   
2004, 5.000%, 12/01/25 – AMBAC Insured
      
1,000
  
Ohio Higher Educational Facilities Commission, Revenue Bonds, Wittenberg University, Series
12/12 at 100.00
Ba1
1,000,950
   
2001, 5.500%, 12/01/15
      
1,500
  
Ohio State Higher Education Facilities, Revenue Bonds, Case Western Reserve University, Series
12/16 at 100.00
AA–
1,591,320
   
2006, 5.000%, 12/01/44 – NPFG Insured
      
2,000
  
Ohio State Higher Educational Facility Commission, Higher Education Facility Revenue Bonds,
11/18 at 100.00
A–
2,271,940
   
Xavier University 2008C, 5.750%, 5/01/28
      
550
  
Ohio State University, General Receipts Bonds, Series 2003B, 5.250%, 6/01/22
6/13 at 100.00
Aa1
575,190
1,510
  
University of Akron, Ohio, General Receipts Bonds, Series 2003A, 5.000%, 1/01/21 –
1/13 at 100.00
AA–
1,544,534
   
AMBAC Insured
      
2,605
  
University of Cincinnati, Ohio, General Receipts Bonds, Series 2004D, 5.000%, 6/01/25 –
6/14 at 100.00
AA–
2,787,454
   
AMBAC Insured
      
19,640
  
Total Education and Civic Organizations
    
20,756,640
   
Health Care – 25.3% (18.3% of Total Investments)
      
2,000
  
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Facilities Revenue
11/12 at 100.00
Baa1
2,001,460
   
Bonds, Summa Health System, Series 1998A, 5.375%, 11/15/24
      
1,000
  
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series
6/20 at 100.00
AA–
1,091,650
   
2010A, 5.250%, 6/01/38
      
2,500
  
Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010,
11/20 at 100.00
BBB+
2,683,400
   
5.500%, 11/01/40
      
3,405
  
Butler County, Ohio, Hospital Facilities Revenue Bonds, Cincinnati Children’s Medical Center
5/16 at 100.00
N/R
3,449,367
   
Project, Series 2006K, 5.000%, 5/15/31 – FGIC Insured
      
   
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project,
      
   
Improvement Series 2009:
      
250
  
5.000%, 11/01/34
11/19 at 100.00
Aa2
271,158
300
  
5.250%, 11/01/40
11/19 at 100.00
Aa2
327,978
1,200
  
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project, Series
11/18 at 100.00
Aa2
1,269,024
   
2005, 5.000%, 11/01/40
      
2,400
  
Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Tender Option Bond
11/21 at 100.00
AA
2,780,640
   
Trust 11-21B, 9.234%, 11/15/41 (IF) (4)
      
   
Hamilton County, Ohio, Revenue Bonds, Children’s Hospital Medical Center, Series 2004J:
      
2,455
  
5.250%, 5/15/16 – FGIC Insured
5/14 at 100.00
BBB
2,571,195
1,260
  
5.125%, 5/15/28 – FGIC Insured
5/14 at 100.00
BBB
1,273,495
1,000
  
Hancock County, Ohio, Hospital Revenue Bonds, Blanchard Valley Regional Health Center, Series
6/21 at 100.00
A
1,160,050
   
2011A, 6.250%, 12/01/34
      
   
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2008D:
      
90
  
5.000%, 11/15/38
11/18 at 100.00
AA–
95,048
40
  
5.125%, 11/15/40
11/18 at 100.00
AA–
42,479
2,665
  
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series
11/21 at 100.00
AA–
3,146,752
   
2011A, 6.000%, 11/15/41
      
785
  
Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center
5/16 at 100.00
A2
843,333
   
Inc., Series 2006, 5.250%, 5/15/21
      
430
  
Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center
8/21 at 100.00
A2
461,493
   
Project, Refunding Series 2011, 5.250%, 8/01/41
      
   
Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A:
      
1,500
  
5.000%, 5/01/30
5/14 at 100.00
AA
1,545,105
2,500
  
5.000%, 5/01/32
5/14 at 100.00
AA
2,569,100
1,350
  
Montgomery County, Ohio, Revenue Bonds, Miami Valley Hospital, Series 2009A, 6.250%, 11/15/39
11/14 at 100.00
Aa3
1,434,470
95
  
Ohio Higher Educational Facilities Commission, Revenue Bonds, University Hospitals Health
1/17 at 100.00
AA+
105,079
   
System Inc., Series 2007A, 5.250%, 1/15/46 – BHAC Insured
      
   
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic
      
   
Health System Obligated Group, Series 2008A:
      
1,315
  
5.000%, 1/01/25
1/18 at 100.00
Aa2
1,450,314
50
  
5.250%, 1/01/33
1/18 at 100.00
Aa2
54,867
1,200
  
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Summa Health
5/20 at 100.00
AA–
1,298,604
   
System Project, Series 2010, 5.250%, 11/15/40 – AGM Insured
      
1,500
  
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, University
1/15 at 100.00
A
1,602,990
   
Hospitals Health System, Series 2009, 6.750%, 1/15/39
      
1,000
  
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System
1/19 at 100.00
Aa2
1,110,760
   
Obligated Group, Series 2009A, 5.500%, 1/01/39
      
   
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System
      
   
Obligated Group, Tender Option Bond Trust 3551:
      
375
  
19.746%, 1/01/17 (IF)
No Opt. Call
Aa2
515,160
2,700
  
20.072%, 1/01/33 (IF)
1/19 at 100.00
Aa2
3,896,208
1,100
  
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System
No Opt. Call
Aa2
1,587,344
   
Obligated Group, Tender Option Bond Trust 3591, 20.231%, 1/01/17 (IF)
      
1,200
  
Richland County, Ohio, Hospital Revenue Bonds, MidCentral Health System Group, Series 2006,
11/16 at 100.00
A–
1,253,412
   
5.250%, 11/15/36
      
600
  
Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008,
12/18 at 100.00
A
661,926
   
5.750%, 12/01/35
      
38,265
  
Total Health Care
    
42,553,861
   
Housing/Multifamily – 5.2% (3.7% of Total Investments)
      
1,385
  
Clermont County, Ohio, GNMA Collateralized Mortgage Revenue Bonds, S.E.M. Villa II Project,
8/12 at 100.00
Aaa
1,387,576
   
Series 1994A, 5.950%, 2/20/30
      
   
Cuyahoga County, Ohio, GNMA Collateralized Multifamily Housing Mortgage Revenue Bonds,
      
   
Longwood Phase One Associates LP, Series 2001A:
      
2,245
  
5.350%, 1/20/21 (Alternative Minimum Tax)
7/12 at 101.00
Aaa
2,293,290
2,250
  
5.450%, 1/20/31 (Alternative Minimum Tax)
7/12 at 101.00
Aaa
2,280,488
800
  
Montgomery County, Ohio, GNMA Guaranteed Multifamily Housing Revenue Bonds, Canterbury Court
10/18 at 101.00
Aa1
862,544
   
Project, Series 2007, 5.500%, 10/20/42 (Alternative Minimum Tax)
      
695
  
Ohio Housing Finance Agency, FHA-Insured Multifamily Housing Mortgage Revenue Bonds, Madonna
6/16 at 102.00
Aaa
716,962
   
Homes, Series 2006M, 4.900%, 6/20/48 (Alternative Minimum Tax)
      
1,100
  
Summit County Port Authority, Ohio, Multifamily Housing Revenue Bonds, Callis Tower Apartments
9/17 at 102.00
Aaa
1,161,578
   
Project, Series 2007, 5.250%, 9/20/47 (Alternative Minimum Tax)
      
8,475
  
Total Housing/Multifamily
    
8,702,438
   
Housing/Single Family – 0.5% (0.4% of Total Investments)
      
855
  
Ohio Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006H, 5.000%,
9/15 at 100.00
Aaa
878,273
   
9/01/31 (Alternative Minimum Tax)
      
   
Industrials – 1.0% (0.7% of Total Investments)
      
660
  
Cleveland-Cuyahoga County Port Authority, Ohio, Development Revenue Bonds, Bond Fund Program –
11/15 at 100.00
BBB–
664,640
   
Columbia National Group Project, Series 2005D, 5.000%, 5/15/20 (Alternative Minimum Tax)
      
970
  
Cleveland-Cuyahoga County Port Authority, Ohio, Development Revenue Bonds, Jergens Inc.,
11/12 at 100.00
BBB–
973,201
   
Series 1998A, 5.375%, 5/15/18 (Alternative Minimum Tax)
      
1,630
  
Total Industrials
    
1,637,841
   
Long-Term Care – 1.0% (0.8% of Total Investments)
      
490
  
Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement
7/21 at 100.00
BBB
535,840
   
Services, Improvement Series 2010A, 5.625%, 7/01/26
      
1,165
  
Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard,
4/20 at 100.00
BBB–
1,232,209
   
Refunding & improvement Series 2010, 6.625%, 4/01/40
      
1,655
  
Total Long-Term Care
    
1,768,049
   
Materials – 1.3% (0.9% of Total Investments)
      
2,000
  
Toledo-Lucas County Port Authority, Ohio, Port Revenue Bonds, Cargill Inc., Series 2004B,
No Opt. Call
A
2,154,500
   
4.500%, 12/01/15
      
   
Tax Obligation/General – 31.2% (22.6% of Total Investments)
      
   
Butler County, Ohio, General Obligation Bonds, Series 2002:
      
1,345
  
5.000%, 12/01/21 – NPFG Insured
12/12 at 100.00
Aa1
1,428,484
1,200
  
5.000%, 12/01/22 – NPFG Insured
12/12 at 101.00
Aa1
1,274,484
1,500
  
Centerville City School District, Montgomery County, Ohio, General Obligation Bonds, Series
6/15 at 100.00
Aa1
1,643,490
   
2005, 5.000%, 12/01/30 – AGM Insured
      
2,630
  
Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements, Series
6/22 at 100.00
AAA
3,132,882
   
2012, 5.000%, 12/01/28 (WI/DD, Settling 6/01/12) – AGM Insured
      
1,000
  
Central Ohio Solid Waste Authority, General Obligation Bonds, Series 2004A, 5.000%, 12/01/15 –
6/14 at 100.00
AAA
1,086,000
   
AMBAC Insured
      
1,000
  
Cleveland Municipal School District, Cuyahoga County, Ohio, General Obligation Bonds, Series
6/14 at 100.00
AA
1,082,960
   
2004, 5.000%, 12/01/22 – AGM Insured
      
3,000
  
Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006,
No Opt. Call
AA
1,615,950
   
0.000%, 12/01/28 – AGM Insured
      
1,200
  
Cuyahoga County, Ohio, General Obligation Bonds, Series 2004, 5.000%, 12/01/21
12/14 at 100.00
AA+
1,323,240
1,000
  
Dayton, Ohio, General Obligation Bonds, Series 2004, 5.250%, 12/01/19 – AMBAC Insured
6/14 at 100.00
Aa2
1,089,580
1,195
  
Fairview Park City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series
6/15 at 100.00
Aa3
1,326,092
   
2005, 5.000%, 12/01/24 – NPFG Insured
      
1,840
  
Franklin County, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/28
12/17 at 100.00
AAA
2,109,118
1,500
  
Green, Ohio, General Obligation Bonds, Series 2008, 5.500%, 12/01/32
12/15 at 100.00
AA
1,612,605
1,355
  
Grove City, Ohio, General Obligation Bonds, Construction & Improvement Series 2009,
12/19 at 100.00
Aa1
1,548,562
   
5.125%, 12/01/36
      
7,020
  
Hamilton City School District, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/34 –
6/17 at 100.00
AA–
7,467,734
   
AGM Insured
      
1,850
  
Hilliard City School District, Franklin County, Ohio, General Obligation Bonds, School
12/15 at 100.00
Aa1
2,061,603
   
Construction, Series 2005, 5.000%, 12/01/26 – NPFG Insured
      
3,000
  
Hilliard School District, Franklin County, Ohio, General Obligation Bonds, Series 2006A,
12/16 at 100.00
Aa1
3,306,180
   
5.000%, 12/01/25 – NPFG Insured
      
2,580
  
Indian Lake Local School District, Logan and Auglaize Counties, Ohio, School Facilities
6/17 at 100.00
Aa3
2,766,508
   
Improvement and Refunding Bonds, Series 2007, 5.000%, 12/01/34 – NPFG Insured
      
660
  
Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2011,
No Opt. Call
Aa1
527,294
   
0.000%, 12/01/21
      
800
  
Lakewood City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series 2007,
12/17 at 100.00
Aa2
892,464
   
5.000%, 12/01/25 – FGIC Insured
      
1,585
  
Lucas County, Ohio, General Obligation Bonds, Various Purpose Series 2010, 5.000%, 10/01/40
10/18 at 100.00
Aa2
1,704,477
505
  
Marysville Exempted School District, Union County, Ohio, General Obligation Bonds, Series
12/15 at 100.00
AA–
541,567
   
2006, 5.000%, 12/01/25 – AGM Insured
      
500
  
Mason City School District, Counties of Warren and Butler, Ohio, General Obligation Bonds,
6/17 at 100.00
Aaa
564,150
   
Series 2007, 5.000%, 12/01/31
      
1,500
  
Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding
No Opt. Call
Aa3
1,869,960
   
Series 2007, 5.250%, 12/01/31 – AGM Insured
      
1,350
  
Milford Exempted Village School District, Ohio, General Obligation Bonds, Series 2008,
12/18 at 100.00
Aa3
1,470,326
   
5.250%, 12/01/36
      
1,000
  
Newark City School District, Licking County, Ohio, General Obligation Bonds, Series 2005,
12/15 at 100.00
Aa3
1,060,690
   
5.000%, 12/01/28 – FGIC Insured
      
1,000
  
Northmor Local School District, Morrow County, Ohio, General Obligation School Facilities
11/18 at 100.00
Aa2
1,081,030
   
Construction and Improvement Bonds, Series 2008, 5.000%, 11/01/36
      
500
  
Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation
6/18 at 100.00
Aa1
544,650
   
Bonds, Series 2008, 5.000%, 12/01/36
      
1,510
  
Painesville City School District, Ohio, General Obligation Bonds, Series 2004, 5.000%,
12/14 at 100.00
A1
1,641,144
   
12/01/22 – FGIC Insured
      
70
  
Strongsville, Ohio, Limited Tax General Obligation Various Purpose Improvement Bonds, Series
6/12 at 100.00
Aaa
70,312
   
1996, 5.950%, 12/01/21
      
100
  
Sylvania City School District, Lucas County, Ohio, General Obligation Bonds, School
6/17 at 100.00
Aa2
107,512
   
Improvement Series 1995, 5.250%, 12/01/36 – AGC Insured
      
650
  
Vandalia Butler City School District, Montgomery County, Ohio, General Obligation Bonds,
6/19 at 100.00
AA
713,213
   
School Improvment Series 2009, 5.125%, 12/01/37
      
   
Warren City School District, Trumbull County, Ohio, General Obligation Bonds, Series 2004:
      
2,515
  
5.000%, 12/01/20 – FGIC Insured
6/14 at 100.00
AA
2,686,775
1,170
  
5.000%, 12/01/22 – FGIC Insured
6/14 at 100.00
AA
1,264,384
49,630
  
Total Tax Obligation/General
    
52,615,420
   
Tax Obligation/Limited – 19.4% (14.0% of Total Investments)
      
1,380
  
Columbus, Ohio, Tax Increment Financing Bonds, Easton Project, Series 2004A, 5.000%,
6/14 at 100.00
BBB+
1,429,625
   
12/01/25 – AMBAC Insured
      
4,000
  
Cuyhoga County, Ohio, Recovery Zone Facility Economic Development Revenue Bonds, Medical Mart–
12/20 at 100.00
AA
4,540,078
   
Convention Center Project, Series 2010F, 5.000%, 12/01/27
      
3,000
  
Franklin County Convention Facilities Authority, Ohio, Excise Tax and Lease Revenue
12/15 at 100.00
Aaa
3,315,090
   
Anticipation Bonds, Series 2005, 5.000%, 12/01/27 – AMBAC Insured
      
1,305
  
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42
1/22 at 100.00
A
1,416,003
545
  
Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/42 (WI/DD,
1/22 at 100.00
A
585,989
   
Settling 6/06/12)
      
1,085
  
Hamilton County Convention Facilities Authority, Ohio, First Lien Revenue Bonds, Series 2004,
6/14 at 100.00
A+
1,159,106
   
5.000%, 12/01/18 – FGIC Insured
      
4,000
  
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006A, 5.000%, 12/01/32 –
12/16 at 100.00
A+
4,300,398
   
AMBAC Insured
      
1,000
  
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series 2000B, 0.000%, 12/01/28 –
No Opt. Call
AA–
496,810
   
AGM Insured
      
2,000
  
Hamilton County, Ohio, Sales Tax Revenue Bonds, Refunding Series 2011A, 5.000%, 12/01/31
12/21 at 100.00
A+
2,180,720
1,000
  
Hudson City School District, Ohio, Certificates of Participation, Series 2004, 5.000%,
6/14 at 100.00
Aa3
1,068,200
   
6/01/26 – NPFG Insured
      
140
  
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series
10/22 at 100.00
A1
162,581
   
2012C, 5.000%, 10/01/24
      
800
  
Ohio State Building Authority, State Facilities Bonds, Administrative Building Fund Projects,
4/15 at 100.00
AA
876,320
   
Series 2005A, 5.000%, 4/01/25 – AGM Insured
      
23,215
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
No Opt. Call
A+
6,937,336
   
2009A, 0.000%, 8/01/34
      
7,875
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
No Opt. Call
A+
2,184,210
   
2010A, 0.000%, 8/01/35
      
1,645
  
Riversouth Authority, Ohio, Riversouth Area Redevelopment Bonds, Refunding Series 2012A,
12/22 at 100.00
AA+
1,972,602
   
5.000%, 12/01/23
      
52,990
  
Total Tax Obligation/Limited
    
32,625,068
   
Transportation – 4.0% (2.8% of Total Investments)
      
1,000
  
Cleveland, Ohio, Airport System Revenue Bonds, Series 2012A, 5.000%, 1/01/31 – AGM Insured
1/22 at 100.00
AA–
1,080,160
3,050
  
Dayton, Ohio, Airport Revenue Bonds, James M. Cox International Airport, Series 2003C, 5.250%,
12/13 at 100.00
A–
3,124,634
   
12/01/23 – RAAI Insured (Alternative Minimum Tax)
      
2,000
  
Ohio Turnpike Commission, Revenue Refunding Bonds, Series 1998A, 5.500%, 2/15/18 – FGIC Insured
No Opt. Call
AA
2,459,200
6,050
  
Total Transportation
    
6,663,994
   
U.S. Guaranteed – 21.6% (15.6% of Total Investments) (5)
      
2,030
  
Butler County, Ohio, General Obligation Judgment Bonds, Series 2002, 5.250%, 12/01/21
12/12 at 101.00
Aa1 (5)
2,101,537
   
(Pre-refunded 12/01/12)
      
2,600
  
Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, Series 2002,
12/12 at 100.00
Aa2 (5)
2,665,650
   
5.250%, 6/01/21 (Pre-refunded 12/01/12) – AGM Insured
      
   
Cuyahoga County, Ohio, Revenue Refunding Bonds, Cleveland Clinic Health System, Series 2003A:
      
1,020
  
6.000%, 1/01/32 (Pre-refunded 7/01/13)
7/13 at 100.00
Aa2 (5)
1,083,240
980
  
6.000%, 1/01/32 (Pre-refunded 7/01/13)
7/13 at 100.00
Aa2 (5)
1,040,760
1,000
  
Dayton, Ohio, Airport Revenue Bonds, James M. Cox International Airport, Series 2005B, 5.000%,
No Opt. Call
A– (5)
1,114,450
   
12/01/14 – SYNCORA GTY Insured (ETM)
      
1,000
  
Dublin City School District, Franklin, Delaware and Union Counties, Ohio, General Obligation
12/13 at 100.00
AAA
1,070,990
   
Bonds, Series 2003, 5.000%, 12/01/22 (Pre-refunded 12/01/13) – AGM Insured
      
1,160
  
Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2003,
6/13 at 100.00
Aa1 (5)
1,215,297
   
5.000%, 12/01/22 (Pre-refunded 6/01/13) – NPFG Insured
      
1,000
  
Lorain County, Ohio, Hospital Revenue Refunding and Improvement Bonds, Catholic Healthcare
10/12 at 100.00
AA– (5)
1,017,220
   
Partners, Refunding Series 2002, 5.375%, 10/01/30 (Pre-refunded 10/01/12)
      
1,515
  
Massillon City School District, Ohio, General Obligation Bonds, Series 2003, 5.250%, 12/01/21
12/12 at 100.00
Baa2 (5)
1,553,466
   
(Pre-refunded 12/01/12) – NPFG Insured
      
760
  
Middletown City School District, Butler County, Ohio, General Obligation Bonds, Series 2004,
12/13 at 100.00
N/R (5)
813,717
   
5.000%, 12/01/25 (Pre-refunded 12/01/13) – FGIC Insured
      
2,645
  
Ohio State Building Authority, State Facilities Bonds, Adult Correctional Building Fund
4/14 at 100.00
AA (5)
2,881,384
   
Project, Series 2004A, 5.250%, 4/01/15 (Pre-refunded 4/01/14) – NPFG Insured
      
1,200
  
Ohio State University, General Receipts Bonds, Series 2002A, 5.125%, 12/01/31
12/12 at 100.00
Aa1 (5)
1,229,712
   
(Pre-refunded 12/01/12)
      
2,450
  
Ohio State University, General Receipts Bonds, Series 2003B, 5.250%, 6/01/22
6/13 at 100.00
N/R (5)
2,573,333
   
(Pre-refunded 6/01/13)
      
525
  
Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, State Match,
6/18 at 100.00
AAA
645,761
   
Series 2008, 5.000%, 6/01/28 (Pre-refunded 6/01/18) – AGM Insured
      
   
Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Water
      
   
Quality Project, Series 2005B:
      
1,225
  
5.000%, 6/01/25 (Pre-refunded 6/01/15)
6/15 at 100.00
AAA
1,391,686
275
  
5.000%, 6/01/25 (Pre-refunded 6/01/15)
6/15 at 100.00
AAA
312,419
3,000
  
Ohio, General Obligation Bonds, Infrastructure Improvements, Series 2003F, 5.000%, 2/01/23
2/13 at 100.00
AA+ (5)
3,096,120
   
(Pre-refunded 2/01/13)
      
1,000
  
Ohio, State Appropriation Lease Bonds, Mental Health Capital Facilities, Series 2003B-II,
6/13 at 100.00
AA (5)
1,047,360
   
5.000%, 6/01/16 (Pre-refunded 6/01/13)
      
   
Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation
      
   
Bonds, Series 2004A:
      
1,315
  
5.250%, 12/01/23 (Pre-refunded 6/01/14) – FGIC Insured
6/14 at 100.00
AA+ (5)
1,442,805
3,380
  
5.250%, 12/01/24 (Pre-refunded 6/01/14) – FGIC Insured
6/14 at 100.00
AA+ (5)
3,708,502
1,000
  
Princeton City School District, Butler County, Ohio, General Obligation Bonds, Series 2003,
12/13 at 100.00
AA (5)
1,070,990
   
5.000%, 12/01/30 (Pre-refunded 12/01/13) – NPFG Insured
      
850
  
University of Cincinnati, Ohio, General Receipts Bonds, Series 2003C, 5.000%, 6/01/22
6/13 at 100.00
AA– (5)
890,673
   
(Pre-refunded 6/01/13) – FGIC Insured
      
1,200
  
University of Cincinnati, Ohio, General Receipts Bonds, Series 2004D, 5.000%, 6/01/19
6/14 at 100.00
AA– (5)
1,310,664
   
(Pre-refunded 6/01/14) – AMBAC Insured
      
1,000
  
West Chester Township, Butler County, Ohio, General Obligation Bonds, Series 2003, 5.000%,
12/13 at 100.00
Aaa
1,071,150
   
12/01/28 (Pre-refunded 12/01/13) – NPFG Insured
      
34,130
  
Total U.S. Guaranteed
    
36,348,886
   
Utilities – 5.5% (4.0% of Total Investments)
      
2,500
  
American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project
2/18 at 100.00
A1
2,706,225
   
Series 2008A, 5.250%, 2/15/43
      
   
Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B:
      
2,000
  
0.000%, 11/15/28 – NPFG Insured
No Opt. Call
A2
970,160
2,105
  
0.000%, 11/15/32 – NPFG Insured
No Opt. Call
A2
804,952
2,155
  
0.000%, 11/15/34 – NPFG Insured
No Opt. Call
A2
735,502
1,465
  
Ohio Air Quality Development Authority, Revenue Refunding Bonds, Ohio Power Company Project,
11/12 at 100.00
Baa1
1,466,612
   
Series 1999C, 5.150%, 5/01/26 – AMBAC Insured
      
950
  
Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville
No Opt. Call
A1
467,866
   
Hydroelectric Project – Joint Venture 5, Series 2001, 0.000%, 2/15/29 – NPFG Insured
      
2,000
  
Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville
2/14 at 100.00
A1
2,100,980
   
Hydroelectric Project – Joint Venture 5, Series 2004, 5.000%, 2/15/20 – AMBAC Insured
      
13,175
  
Total Utilities
    
9,252,297
   
Water and Sewer – 2.8% (2.0% of Total Investments)
      
430
  
City of Marysville, Ohio, Water System Mortgage Revenue Bonds, Series 2007, 5.000%, 12/01/32 –
12/17 at 100.00
A1
460,792
   
AMBAC Insured
      
1,025
  
Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series
No Opt. Call
Aa1
1,291,428
   
1993G, 5.500%, 1/01/21 – NPFG Insured
      
1,220
  
Hamilton, Ohio, Wastewater System Revenue Bonds, Series 2005, 5.250%, 10/01/22 – AGM Insured
10/15 at 100.00
Aa3
1,367,120
100
  
Ironton, Ohio, Sewer System Improvement Revenue Bonds, Series 2011, 5.250%, 12/01/40 –
12/20 at 100.00
Aa3
111,332
   
AGM Insured
      
225
  
Marysville, Ohio, Wastewater Treatement System Revenue Bonds, Series 2007, 5.000%, 12/01/37 –
12/17 at 100.00
A–
236,408
   
SYNCORA GTY Insured
      
1,170
  
Marysville, Ohio, Wastewater Treatment System Revenue Bonds, Series 2006, 5.250%, 12/01/24 –
12/16 at 100.00
A–
1,274,949
   
SYNCORA GTY Insured
      
4,170
  
Total Water and Sewer
    
4,742,029
$ 248,725
  
Total Investments (cost $213,819,769) – 138.5%
    
233,158,910
   
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (43.6)% (6)
    
(73,500,000)
   
Other Assets Less Liabilities – 5.1%
    
8,745,627
   
Net Assets Applicable to Common Shares – 100%
    
$ 168,404,537
 
 
 
 
 

 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:
 
Level 1 – Quoted prices in active markets for identical securities.
 
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Significant unobservable inputs (including management's assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund's fair value measurements as of May 31, 2012:
 
                         
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Long-Term Investments:
                        
Municipal Bonds
   $ —     $ 233,158,910     $ —     $ 233,158,910  
 
 
During the period ended May 31, 2012, the Fund recognized no transfers to or from Level 1, Level 2 or Level 3.
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
At May 31, 2012, the cost of investments was $213,585,565.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at May 31, 2012, were as follows:
   
Gross unrealized:
  
Appreciation
$19,643,945
Depreciation
(70,600)
Net unrealized appreciation (depreciation) of investments
$19,573,345
 
 
     
(1)
  
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common
   
shares unless otherwise noted.
(2)
  
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
   
may be subject to periodic principal paydowns.
(3)
  
Ratings: Using the highest of Standard & Poor’s Group ("Standard & Poor's"), Moody’s Investors Service,
   
Inc. ("Moody's") or Fitch, Inc. ("Fitch") rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s
   
or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated
   
by any of these national rating agencies.
(4)
  
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(5)
  
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency
   
securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S.
   
Government or agency securities are regarded as having an implied rating equal to the rating of
   
such securities.
(6)
  
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments
   
is 31.5%.
N/R
  
Not rated.
WI/DD
  
Purchased on a when-issued or delayed delivery basis.
(ETM)
  
Escrowed to maturity.
(IF)
  
Inverse floating rate investment.
 
 
 

 
 
 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT 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.
 
(Registrant)  Nuveen Ohio Quality Income Municipal Fund, Inc. 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         July 30, 2012        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date:         July 30, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         July 30, 2012