High-Yield Municipal - Schedule of Investments | ||
FEBRUARY 28, 2022 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
MUNICIPAL SECURITIES — 96.2% | ||||||||
Alabama — 1.3% | ||||||||
Black Belt Energy Gas District Rev., VRN, 4.00%, 4/1/53 (GA: Goldman Sachs Group, Inc.)(1) | 3,845,000 | 4,177,876 | ||||||
Jefferson County Sewer Rev., 6.50%, 10/1/53 | 2,000,000 | 2,254,913 | ||||||
Southeast Alabama Gas Supply District Rev., VRN, 4.00%, 6/1/49 (GA: Morgan Stanley) | 5,000,000 | 5,241,469 | ||||||
11,674,258 | ||||||||
Alaska — 0.5% | ||||||||
Northern Tobacco Securitization Corp. Rev., 4.00%, 6/1/50 | 500,000 | 529,724 | ||||||
State of Alaska International Airports System Rev., 5.00%, 10/1/25 | 1,980,000 | 2,200,086 | ||||||
State of Alaska International Airports System Rev., 5.00%, 10/1/26 | 1,470,000 | 1,664,659 | ||||||
4,394,469 | ||||||||
Arizona — 6.6% | ||||||||
Arizona Industrial Development Authority Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/51(2) | 2,840,000 | 3,142,840 | ||||||
Arizona Industrial Development Authority Rev., (Doral Academy of Nevada), 5.00%, 7/15/49(2) | 1,675,000 | 1,853,070 | ||||||
Arizona Industrial Development Authority Rev., (Kaizen Education Foundation), 5.70%, 7/1/47(2) | 2,000,000 | 2,227,134 | ||||||
Arizona Industrial Development Authority Rev., (Legacy Cares, Inc.), 7.75%, 7/1/50(2) | 7,000,000 | 8,196,041 | ||||||
Arizona Industrial Development Authority Rev., (Legacy Cares, Inc.), 6.00%, 7/1/51(2) | 1,400,000 | 1,516,927 | ||||||
Arizona Industrial Development Authority Rev., (Odyssey Preparatory Academy, Inc.), 5.50%, 7/1/52(2) | 5,000,000 | 5,327,123 | ||||||
Arizona Industrial Development Authority Rev., (Pinecrest Academy of Nevada), 4.00%, 7/15/50(2) | 1,600,000 | 1,646,191 | ||||||
Florence Town, Inc. Industrial Development Authority Rev., (Legacy Traditional School Series 2013 Obligated Group), 6.00%, 7/1/23, Prerefunded at 100% of Par(3) | 1,000,000 | 1,064,099 | ||||||
Glendale Industrial Development Authority Rev., (People of Faith, Inc. Obligated Group), 5.00%, 5/15/56 | 5,000,000 | 5,451,133 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (AZ GFF Tiyan LLC), 5.375%, 2/1/41 | 840,000 | 857,438 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/45(2) | 1,500,000 | 1,611,113 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/46(2) | 1,500,000 | 1,610,617 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Legacy Traditional School Obligated Group), 6.75%, 7/1/44(2) | 2,000,000 | 2,225,381 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Legacy Traditional School Obligated Group), 5.00%, 7/1/46(2) | 500,000 | 543,060 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Leman Academy of Excellence Obligated Group), 5.25%, 7/1/48(2) | 1,000,000 | 1,014,299 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Leman Academy of Excellence Obligated Group), 5.25%, 7/1/53(2) | 1,000,000 | 1,014,132 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Leman Academy of Excellence, Inc.), 5.00%, 7/1/54(2) | 1,000,000 | 1,013,288 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 5.625%, 6/15/45(2) | 2,000,000 | 2,153,276 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 5.00%, 6/15/47(2) | 1,325,000 | 1,341,324 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 5.00%, 6/15/52(2) | 1,325,000 | 1,341,324 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 4.00%, 6/15/57(2) | 1,000,000 | 1,004,061 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 4.00%, 6/15/57(1)(2) | 1,860,000 | 1,821,991 | ||||||
Maricopa County Industrial Development Authority Rev., (Legacy Traditional School Obligated Group), 5.00%, 7/1/49(2) | 2,450,000 | 2,759,894 | ||||||
Maricopa County Industrial Development Authority Rev., (Legacy Traditional School Obligated Group), 4.00%, 7/1/56(2) | 1,220,000 | 1,254,434 | ||||||
Sundance Community Facilities District Rev., 7.125%, 7/1/27(2) | 121,000 | 121,107 | ||||||
Sundance Community Facilities District Special Assessment, 6.50%, 7/1/29 | 107,000 | 107,076 | ||||||
Tempe Industrial Development Authority Rev., (Mirabella at ASU, Inc.), 5.35%, 10/1/25(2) | 1,000,000 | 1,001,020 | ||||||
Tempe Industrial Development Authority Rev., (Mirabella at ASU, Inc.), 6.00%, 10/1/37(2) | 800,000 | 853,728 | ||||||
Tempe Industrial Development Authority Rev., (Mirabella at ASU, Inc.), 6.125%, 10/1/47(2) | 4,650,000 | 4,927,205 | ||||||
59,000,326 | ||||||||
California — 4.2% | ||||||||
California County Tobacco Securitization Agency Rev., 4.00%, 6/1/49 | 380,000 | 411,903 | ||||||
California County Tobacco Securitization Agency Rev., 5.00%, 6/1/49 | 250,000 | 283,371 | ||||||
California County Tobacco Securitization Agency Rev., (Alameda County Tobacco Securitization Corp.), 0.00%, 6/1/50(4) | 8,000,000 | 1,426,506 |
California County Tobacco Securitization Agency Rev., Capital Appreciation, 0.00%, 6/1/55(4) | 1,000,000 | 190,083 | ||||||
California Municipal Finance Authority Rev., (United Airlines, Inc.), 4.00%, 7/15/29 | 5,000,000 | 5,389,988 | ||||||
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/36(2) | 500,000 | 561,564 | ||||||
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/41(2) | 500,000 | 560,075 | ||||||
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/46(2) | 1,000,000 | 1,118,033 | ||||||
CSCDA Community Improvement Authority Rev., (Altana Apartments), 4.00%, 10/1/56(2) | 2,500,000 | 2,426,930 | ||||||
CSCDA Community Improvement Authority Rev., (Escondido Portfolio), 4.00%, 3/1/57(2) | 1,765,000 | 1,511,746 | ||||||
CSCDA Community Improvement Authority Rev., (Escondido Portfolio), 4.00%, 4/1/57(2) | 1,800,000 | 1,584,399 | ||||||
CSCDA Community Improvement Authority Rev., (Escondido Portfolio), 4.00%, 12/1/59(2) | 3,500,000 | 2,774,709 | ||||||
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 4.00%, 9/1/46(2) | 825,000 | 745,956 | ||||||
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 4.00%, 6/1/57(2) | 1,670,000 | 1,459,194 | ||||||
Fairfield Community Facilities District Special Tax, (District No. 2016-1), 4.00%, 9/1/52 | 3,000,000 | 3,192,282 | ||||||
Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, VRN, 0.00%, 1/15/42 | 500,000 | 609,432 | ||||||
Golden State Tobacco Securitization Corp. Rev., 0.00%, Capital Appreciation, 6/1/66(4) | 4,750,000 | 710,569 | ||||||
Hastings Campus Housing Finance Authority Rev., (University of California Hastings College of the Law), 5.00%, 7/1/61 | 2,665,000 | 2,938,876 | ||||||
Hastings Campus Housing Finance Authority Rev., (University of California Hastings College of the Law), Capital Appreciation, VRN, 0.00%, 7/1/61(2) | 7,660,000 | 4,225,421 | ||||||
River Islands Public Financing Authority Special Tax, 5.50%, 9/1/45 | 1,500,000 | 1,550,482 | ||||||
Riverside County Transportation Commission Rev., 4.00%, 6/1/47 | 1,000,000 | 1,097,301 | ||||||
San Francisco City & County Redevelopment Agency Successor Agency Special Tax, Capital Appreciation, 0.00%, 8/1/43(4) | 3,500,000 | 1,019,393 | ||||||
Sunnyvale Special Tax, 7.75%, 8/1/32 | 1,500,000 | 1,505,781 | ||||||
37,293,994 | ||||||||
Colorado — 2.2% | ||||||||
Brighton Crossing Metropolitan District No. 4 GO, 4.00%, 12/1/27 | 431,000 | 447,316 | ||||||
Brighton Crossing Metropolitan District No. 4 GO, 5.00%, 12/1/37 | 525,000 | 545,714 | ||||||
Brighton Crossing Metropolitan District No. 4 GO, 5.00%, 12/1/47 | 1,220,000 | 1,265,629 | ||||||
Brighton Crossing Metropolitan District No. 6 GO, 5.00%, 12/1/50 | 1,000,000 | 1,038,786 | ||||||
Central Platte Valley Metropolitan District GO, 5.00%, 12/1/43 | 1,000,000 | 1,028,166 | ||||||
Clear Creek Station Metropolitan District No. 2 GO, 5.00%, 12/1/47 | 1,000,000 | 1,034,539 | ||||||
Cornerstar Metropolitan District GO, 4.50%, 12/1/27 | 500,000 | 519,458 | ||||||
Denver International Business Center Metropolitan District No. 1 GO, 6.00%, 12/1/48 | 2,290,000 | 2,417,005 | ||||||
Denver Urban Renewal Authority Tax Allocation, 5.25%, 12/1/39(2) | 1,860,000 | 1,979,961 | ||||||
E-470 Public Highway Authority Rev., 5.00%, 9/1/26 | 1,250,000 | 1,437,936 | ||||||
Morgan Hill Metropolitan District No. 3 GO, 4.00%, 12/1/51 | 1,455,000 | 1,434,977 | ||||||
One Horse Business Improvement District Rev., 6.00%, 6/1/24 | 600,000 | 601,248 | ||||||
Southlands Metropolitan District No. 1 GO, 5.00%, 12/1/37 | 500,000 | 539,830 | ||||||
Southlands Metropolitan District No. 1 GO, 5.00%, 12/1/47 | 1,000,000 | 1,065,628 | ||||||
Vauxmont Metropolitan District GO, 5.00%, 12/1/50 (AGM) | 1,500,000 | 1,791,511 | ||||||
Village Metropolitan District GO, 5.00%, 12/1/49 | 2,400,000 | 2,592,927 | ||||||
Water Valley Metropolitan District No. 1 GO, 5.25%, 12/1/40 | 300,000 | 318,581 | ||||||
20,059,212 | ||||||||
Connecticut — 0.8% | ||||||||
Connecticut State Health & Educational Facilities Authority Rev., (Griffin Health Obligated Group), 5.00%, 7/1/50(2) | 3,750,000 | 4,308,780 | ||||||
Connecticut State Health & Educational Facilities Authority Rev., (McLean Affiliates Obligated Group), 3.25%, 1/1/27(2) | 1,000,000 | 1,007,009 | ||||||
Connecticut State Health & Educational Facilities Authority Rev., (McLean Affiliates Obligated Group), 5.00%, 1/1/55(2) | 2,000,000 | 2,144,592 | ||||||
7,460,381 | ||||||||
Delaware — 0.4% | ||||||||
Town of Millsboro Special Tax, 5.25%, 7/1/48(2) | 3,000,000 | 3,195,641 | ||||||
District of Columbia — 1.0% | ||||||||
District of Columbia GO, 4.00%, 2/1/46 | 1,500,000 | 1,708,186 | ||||||
District of Columbia Tobacco Settlement Financing Corp. Rev., Capital Appreciation, 0.00%, 6/15/46(4) | 15,000,000 | 2,521,917 | ||||||
Metropolitan Washington Airports Authority Dulles Toll Road Rev., 4.00%, 10/1/44 | 3,000,000 | 3,264,472 |
Washington Metropolitan Area Transit Authority Rev., 5.00%, 7/15/41 | 1,000,000 | 1,251,048 | ||||||
8,745,623 | ||||||||
Florida — 6.2% | ||||||||
Babcock Ranch Community Independent Special District Special Assessment, 5.25%, 11/1/46 | 250,000 | 266,594 | ||||||
Broward County Water & Sewer Utility Rev., 4.00%, 10/1/47 | 1,000,000 | 1,144,666 | ||||||
Celebration Pointe Community Development District Special Assessment, 5.125%, 5/1/45 | 720,000 | 749,333 | ||||||
Celebration Pointe Community Development District Special Assessment, 5.00%, 5/1/48(2) | 1,905,000 | 2,032,314 | ||||||
Escambia County Health Facilities Authority Rev., (Baptist Health Care Corp. Obligated Group), 4.00%, 8/15/45 | 2,700,000 | 2,894,939 | ||||||
Escambia County Health Facilities Authority Rev., (Baptist Health Care Corp. Obligated Group), 4.00%, 8/15/50 | 2,300,000 | 2,452,944 | ||||||
Florida Development Finance Corp. Rev., (Glenridge on Palmer Ranch Obligated Group), 5.00%, 6/1/51 | 340,000 | 371,743 | ||||||
Florida Development Finance Corp. Rev., (Lakeland Regional Health Systems Obligated Group), 4.00%, 11/15/38 | 1,800,000 | 2,055,690 | ||||||
Florida Development Finance Corp. Rev., (Lakeland Regional Health Systems Obligated Group), 4.00%, 11/15/39 | 1,500,000 | 1,709,506 | ||||||
Florida Development Finance Corp. Rev., (Renaissance Charter School, Inc.), 5.00%, 9/15/50(2) | 2,200,000 | 2,355,599 | ||||||
Lake County Rev., (Educational Charter Foundation of Florida, Inc.), 5.00%, 1/15/49(2) | 800,000 | 858,507 | ||||||
Lake County Rev., (Educational Charter Foundation of Florida, Inc.), 5.00%, 1/15/54(2) | 850,000 | 909,349 | ||||||
Miami Beach Redevelopment Agency Tax Allocation, 5.00%, 2/1/27 | 1,000,000 | 1,067,748 | ||||||
Miami-Dade County Educational Facilities Authority Rev., (University of Miami), 5.00%, 4/1/30 | 1,250,000 | 1,371,900 | ||||||
Miami-Dade County Industrial Development Authority Rev., (Pinecrest Academy, Inc.), 5.25%, 9/15/44 | 950,000 | 1,014,634 | ||||||
Northern Palm Beach County Improvement District Special Assessment, 5.00%, 8/1/46 | 2,000,000 | 2,180,671 | ||||||
Orange County Health Facilities Authority Rev., (Orlando Health Obligated Group), 4.00%, 10/1/52 | 3,000,000 | 3,299,935 | ||||||
Pinellas County Industrial Development Authority Rev., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 5.00%, 7/1/29 | 2,870,000 | 3,149,338 | ||||||
Port State Lucie Sales Tax Rev., 4.00%, 9/1/51 | 2,500,000 | 2,828,460 | ||||||
Seminole County Industrial Development Authority Rev., (CCRC Development Corp. Obligated Group), 3.75%, 11/15/25 | 2,000,000 | 1,999,913 | ||||||
Seminole County Industrial Development Authority Rev., (CCRC Development Corp. Obligated Group), 4.25%, 11/15/26 | 4,650,000 | 4,653,193 | ||||||
Seminole County Industrial Development Authority Rev., (CCRC Development Corp. Obligated Group), 5.75%, 11/15/54 | 2,000,000 | 2,155,199 | ||||||
Tallahassee Rev., (Tallahassee Memorial HealthCare, Inc.), 5.00%, 12/1/24 | 1,225,000 | 1,342,483 | ||||||
Tomoka Community Development District Special Assessment, 5.50%, 5/1/35 | 2,500,000 | 2,691,042 | ||||||
Village Community Development District No. 10 Special Assessment, 6.00%, 5/1/44 | 390,000 | 408,401 | ||||||
Village Community Development District No. 12 Special Assessment, 3.625%, 5/1/31 | 1,895,000 | 1,972,847 | ||||||
Village Community Development District No. 12 Special Assessment, 4.375%, 5/1/50(2) | 2,560,000 | 2,731,396 | ||||||
Village Community Development District No. 13 Special Assessment, 3.70%, 5/1/50 | 1,955,000 | 1,998,778 | ||||||
Winter Garden Village at Fowler Groves Community Development District Special Assessment, 4.125%, 5/1/37 | 1,995,000 | 2,098,138 | ||||||
54,765,260 | ||||||||
Georgia — 3.6% | ||||||||
Atlanta Department of Aviation Rev., (Atlanta Airport Passenger Facility Charge), 5.00%, 7/1/36 | 5,000,000 | 6,015,408 | ||||||
Development Authority of White County Rev., (Truett-Mcconnell University, Inc. Obligated Group), 5.00%, 10/1/29 | 1,285,000 | 1,324,266 | ||||||
Development Authority of White County Rev., (Truett-Mcconnell University, Inc. Obligated Group), 5.125%, 10/1/39 | 2,000,000 | 2,045,919 | ||||||
Development Authority of White County Rev., (Truett-Mcconnell University, Inc. Obligated Group), 5.25%, 10/1/49 | 4,000,000 | 4,059,759 | ||||||
George L Smith II Congress Center Authority Rev., (Signia Hotel Management LLC), 4.00%, 1/1/54 | 1,250,000 | 1,277,827 | ||||||
George L Smith II Congress Center Authority Rev., (Signia Hotel Management LLC), 5.00%, 1/1/54(2) | 4,020,000 | 4,099,790 | ||||||
Main Street Natural Gas, Inc. Rev., VRN, 4.00%, 3/1/50 (GA: Citigroup Global Markets) | 4,300,000 | 4,671,386 | ||||||
Main Street Natural Gas, Inc. Rev., VRN, 4.00%, 5/1/52 (GA: Citigroup Global Markets) | 4,555,000 | 5,084,053 | ||||||
Marietta Development Authority Rev., (Life University, Inc.), 5.00%, 11/1/37(2) | 1,500,000 | 1,617,318 | ||||||
Rockdale County Development Authority Rev., (Pratt Paper LLC), 4.00%, 1/1/38 (GA: Pratt Industries, Inc.)(2) | 1,500,000 | 1,622,176 | ||||||
31,817,902 | ||||||||
Hawaii — 0.3% | ||||||||
State of Hawaii State Highway Fund Rev., 5.00%, 1/1/41 | 2,000,000 | 2,490,354 | ||||||
Idaho — 0.6% | ||||||||
Idaho Health Facilities Authority Rev., (Partners In Healthcare, Inc.), 5.50%, 11/1/45 | 3,250,000 | 3,361,357 | ||||||
Idaho Health Facilities Authority Rev., (State Luke's Health System Ltd. Obligated Group), 4.00%, 3/1/51 | 2,000,000 | 2,220,617 | ||||||
5,581,974 | ||||||||
Illinois — 6.9% | ||||||||
Chicago GO, 5.00%, 1/1/27 | 1,265,000 | 1,420,913 | ||||||
Chicago GO, 5.00%, 1/1/28 | 2,000,000 | 2,276,774 | ||||||
Chicago GO, 5.00%, 1/1/29 | 2,000,000 | 2,297,813 | ||||||
Chicago GO, 5.625%, 1/1/29 | 2,500,000 | 2,893,947 | ||||||
Chicago GO, 5.50%, 1/1/39 | 2,000,000 | 2,193,736 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/31 | 2,500,000 | 2,906,537 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/32 | 2,000,000 | 2,323,692 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/42 | 3,815,000 | 3,905,680 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/46 | 2,500,000 | 2,768,750 | ||||||
Chicago Board of Education GO, 6.50%, 12/1/46 | 1,000,000 | 1,172,089 | ||||||
Chicago Midway International Airport Rev., 5.00%, 1/1/26 | 2,200,000 | 2,266,624 | ||||||
Cook County Community High School District No. 212 Leyden Rev., 5.00%, 12/1/28 (BAM) | 2,385,000 | 2,618,478 | ||||||
Illinois Finance Authority Rev., (Ascension Health Credit Group), 4.00%, 2/15/36 | 2,400,000 | 2,621,199 | ||||||
Illinois Finance Authority Rev., (Chicago Charter School Foundation), 5.00%, 12/1/47 | 3,500,000 | 3,880,881 | ||||||
Illinois Finance Authority Rev., (Intrinsic Schools), 6.00%, 12/1/45(2) | 2,000,000 | 2,199,127 | ||||||
Illinois Finance Authority Rev., (Plymouth Place, Inc.), 5.25%, 5/15/25, Prerefunded at 100% of Par(3) | 2,000,000 | 2,232,099 | ||||||
Illinois Finance Authority Rev., (Westminster Village, Inc. Obligated Group), 5.50%, 5/1/53 | 2,500,000 | 2,523,188 | ||||||
Illinois State Toll Highway Authority Rev., 5.00%, 1/1/46 | 1,500,000 | 1,840,983 | ||||||
State of Illinois GO, 5.125%, 12/1/29 | 3,000,000 | 3,444,135 | ||||||
State of Illinois GO, 5.00%, 10/1/33 | 900,000 | 1,028,788 | ||||||
State of Illinois GO, 5.00%, 3/1/36 | 2,100,000 | 2,105,601 | ||||||
State of Illinois GO, 5.50%, 7/1/38 | 1,000,000 | 1,051,883 | ||||||
State of Illinois GO, 5.00%, 2/1/39 | 3,000,000 | 3,163,340 | ||||||
State of Illinois GO, 5.50%, 5/1/39 | 985,000 | 1,176,523 | ||||||
State of Illinois GO, 5.75%, 5/1/45 | 2,400,000 | 2,880,320 | ||||||
Western Illinois Economic Development Authority Rev., (Memorial Hospital Association), 4.00%, 6/1/36 | 2,000,000 | 1,962,537 | ||||||
61,155,637 | ||||||||
Indiana — 0.4% | ||||||||
Indiana Finance Authority Rev., (CWA Authority, Inc.), 4.00%, 10/1/39 | 2,970,000 | 3,446,426 | ||||||
Iowa — 0.9% | ||||||||
Iowa Finance Authority Rev., (Lifespace Communities, Inc. Obligated Group), 5.00%, 5/15/48 | 4,720,000 | 5,049,224 | ||||||
Iowa Tobacco Settlement Authority Rev., 4.00%, 6/1/49 | 1,820,000 | 1,935,681 | ||||||
Iowa Tobacco Settlement Authority Rev., 0.00%, Capital Appreciation, 6/1/65(4) | 5,000,000 | 777,517 | ||||||
7,762,422 | ||||||||
Kansas — 0.2% | ||||||||
Kansas Development Finance Authority Rev., (Village Shalom Obligated Group), 4.00%, 11/15/25 | 1,360,000 | 1,339,246 | ||||||
Prairie Village Tax Allocation, (Prairie Village Meadowbrook Redevelopment District), 3.125%, 4/1/36 | 870,000 | 792,503 | ||||||
2,131,749 | ||||||||
Kentucky — 1.6% | ||||||||
Christian County Rev., (Jennie Stuart Medical Center Obligated Group), 5.50%, 2/1/44 | 1,335,000 | 1,484,170 | ||||||
Kentucky Public Energy Authority Rev., VRN, 4.00%, 12/1/49 (GA: Morgan Stanley) | 7,500,000 | 8,003,642 | ||||||
Kentucky State University COP, 4.00%, 11/1/56 (BAM) | 500,000 | 548,630 | ||||||
Paducah Electric Plant Board Rev., 5.00%, 10/1/30 (AGM) | 3,500,000 | 4,023,087 | ||||||
14,059,529 | ||||||||
Louisiana — 0.5% | ||||||||
Louisiana Stadium & Exposition District Rev., 5.00%, 7/3/23 | 1,650,000 | 1,701,447 | ||||||
St. James Parish Rev., (NuStar Logistics LP), VRN, 6.10%, 12/1/40(2) | 1,250,000 | 1,564,382 | ||||||
St. James Parish Rev., (NuStar Logistics LP), VRN, 5.85%, 8/1/41(2) | 1,000,000 | 1,107,776 | ||||||
4,373,605 | ||||||||
Maryland — 1.4% | ||||||||
Baltimore Rev., 5.125%, 6/1/43 | 1,500,000 | 1,594,734 | ||||||
Brunswick Special Tax, 5.00%, 7/1/36 | 1,448,000 | 1,620,858 | ||||||
Maryland Economic Development Corp. Rev., (Ports America Chesapeake LLC), 5.00%, 6/1/25 | 1,000,000 | 1,105,516 | ||||||
Maryland Economic Development Corp. Rev., (Ports America Chesapeake LLC), 5.00%, 6/1/27 | 1,000,000 | 1,156,977 |
Maryland Economic Development Corp. Tax Allocation, 4.00%, 9/1/50 | 3,370,000 | 3,527,415 | ||||||
Prince George's County Rev., (Collington Episcopal Life Care Community, Inc.), 5.25%, 4/1/37 | 1,500,000 | 1,561,771 | ||||||
Prince George's County Tax Allocation, 5.25%, 7/1/48(2) | 2,000,000 | 2,164,397 | ||||||
12,731,668 | ||||||||
Massachusetts — 1.5% | ||||||||
Massachusetts Clean Water Trust Rev., 5.00%, 2/1/41 | 5,150,000 | 6,404,573 | ||||||
Massachusetts Development Finance Agency Rev., (Milford Regional Medical Center Obligated Group), 5.00%, 7/15/46(2) | 1,000,000 | 1,163,823 | ||||||
Massachusetts Transportation Fund Rev., 5.00%, 6/1/42 | 5,000,000 | 6,212,890 | ||||||
13,781,286 | ||||||||
Michigan — 3.1% | ||||||||
Calhoun County Hospital Finance Authority Rev., (Ella EM Brown Charitable Circle), 5.00%, 2/15/47 | 2,500,000 | 2,763,876 | ||||||
Detroit GO, 5.50%, 4/1/45 | 1,540,000 | 1,835,883 | ||||||
Detroit GO, 5.00%, 4/1/46 | 2,000,000 | 2,322,560 | ||||||
Detroit GO, 5.00%, 4/1/50 | 2,250,000 | 2,599,179 | ||||||
Detroit GO, 5.50%, 4/1/50 | 1,820,000 | 2,158,397 | ||||||
Flint Hospital Building Authority Rev., (Hurley Medical Center), 4.00%, 7/1/41 | 2,500,000 | 2,748,344 | ||||||
Kalamazoo Economic Development Corp. Rev., (Heritage Community of Kalamazoo Obligated Group), 2.875%, 5/15/26 | 2,000,000 | 2,001,590 | ||||||
Kentwood Economic Development Corp. Rev., (Holland Home Obligated Group), 5.625%, 11/15/41 | 1,750,000 | 1,767,624 | ||||||
Michigan Finance Authority Rev., (Michigan Finance Authority Tobacco Settlement Rev.), 5.00%, 6/1/49 | 500,000 | 568,989 | ||||||
Michigan Finance Authority Rev., (Michigan Finance Authority Tobacco Settlement Rev.), 0.00%, 6/1/65(4) | 1,500,000 | 191,033 | ||||||
Michigan Finance Authority Rev., (Thomas M Cooley Law School), 6.75%, 7/1/44(2) | 6,500,000 | 6,828,591 | ||||||
State of Michigan Trunk Line Rev., 4.00%, 11/15/37 | 1,430,000 | 1,681,416 | ||||||
27,467,482 | ||||||||
Minnesota — 0.5% | ||||||||
Crookston Rev., (Riverview Healthcare Association), 5.00%, 5/1/51 | 4,100,000 | 4,203,908 | ||||||
Mississippi — 0.2% | ||||||||
Mississippi Hospital Equipment & Facilities Authority Rev., (North Mississippi Medical Center Obligated Group), 5.00%, 10/1/38 | 800,000 | 958,467 | ||||||
Mississippi Hospital Equipment & Facilities Authority Rev., (North Mississippi Medical Center Obligated Group), 5.00%, 10/1/39 | 850,000 | 1,016,693 | ||||||
1,975,160 | ||||||||
Missouri — 2.1% | ||||||||
Cape Girardeau County Industrial Development Authority Rev., (SoutheastHEALTH Obligated Group), 4.00%, 3/1/41 | 1,000,000 | 1,085,559 | ||||||
Cape Girardeau County Industrial Development Authority Rev., (SoutheastHEALTH Obligated Group), 4.00%, 3/1/46 | 1,000,000 | 1,074,169 | ||||||
Industrial Development Authority of the City of St. Louis Missouri Rev., 4.75%, 11/15/47 | 2,500,000 | 2,373,964 | ||||||
Kirkwood Industrial Development Authority Rev., (Ashfield Active Living and Wellness Communities, Inc.), 5.25%, 5/15/30 | 2,515,000 | 2,726,292 | ||||||
Kirkwood Industrial Development Authority Rev., (Ashfield Active Living and Wellness Communities, Inc.), 5.25%, 5/15/37 | 1,000,000 | 1,067,324 | ||||||
St. Louis County Industrial Development Authority Rev., (Friendship Village St. Louis Obligated Group), 5.25%, 9/1/53 | 5,000,000 | 5,449,837 | ||||||
St. Louis County Industrial Development Authority Rev., (Nazareth Living Center), 5.125%, 8/15/45 | 3,600,000 | 3,723,914 | ||||||
St. Louis County Industrial Development Authority Rev., (Ranken-Jordan Pediatric Speciality Hospital), 5.00%, 11/15/46 | 1,000,000 | 1,053,396 | ||||||
18,554,455 | ||||||||
Nevada — 2.4% | ||||||||
Clark County Special Assessment, 5.00%, 8/1/30 | 1,275,000 | 1,363,004 | ||||||
Clark County Special Assessment, 5.00%, 8/1/32 | 330,000 | 351,259 | ||||||
Clark County Special Assessment, 5.00%, 8/1/35 | 605,000 | 641,902 | ||||||
Henderson Local Improvement Districts Special Assessment, 4.00%, 9/1/23 | 2,030,000 | 2,086,584 | ||||||
Henderson Local Improvement Districts Special Assessment, 6.10%, 3/1/24 | 300,000 | 305,557 | ||||||
Las Vegas Special Improvement District No. 812 Special Assessment, 5.00%, 12/1/35 | 950,000 | 1,012,174 | ||||||
Las Vegas Special Improvement District No. 814 Special Assessment, 4.00%, 6/1/49 | 845,000 | 874,760 | ||||||
Nevada Department of Business & Industry Rev., (Doral Academy of Nevada), 5.00%, 7/15/27(2) | 335,000 | 366,093 | ||||||
Nevada Department of Business & Industry Rev., (Doral Academy of Nevada), 5.00%, 7/15/37(2) | 1,000,000 | 1,082,297 | ||||||
Nevada Department of Business & Industry Rev., (Doral Academy of Nevada), 5.00%, 7/15/47(2) | 1,400,000 | 1,502,999 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.25%, 6/1/34 | 580,000 | 621,400 |
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.50%, 6/1/39 | 715,000 | 770,685 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.625%, 6/1/43 | 580,000 | 622,806 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.625%, 6/1/49 | 960,000 | 1,024,228 | ||||||
Reno Rev., (Washoe County Sales Tax Rev.), Capital Appreciation, 0.00%, 7/1/58(2)(4) | 8,500,000 | 1,365,343 | ||||||
Reno Rev., (Washoe County Sales Tax Rev.), Capital Appreciation, 0.00%, 7/1/58(2)(4) | 13,000,000 | 1,381,901 | ||||||
Sparks Rev., 2.75%, 6/15/28(2) | 3,000,000 | 3,020,487 | ||||||
Tahoe-Douglas Visitors Authority Rev., 5.00%, 7/1/51 | 2,500,000 | 2,745,781 | ||||||
21,139,260 | ||||||||
New Jersey — 3.7% | ||||||||
New Jersey Economic Development Authority Rev., 5.00%, 11/1/24 | 5,000,000 | 5,443,774 | ||||||
New Jersey Economic Development Authority Rev., 5.00%, 6/15/30 | 1,000,000 | 1,196,549 | ||||||
New Jersey Economic Development Authority Rev., 5.00%, 6/15/31 | 1,050,000 | 1,260,424 | ||||||
New Jersey Economic Development Authority Rev., 5.00%, 6/15/40 | 1,625,000 | 1,742,860 | ||||||
New Jersey Economic Development Authority Rev., (Beloved Community Charter School, Inc.), 5.00%, 6/15/49(2) | 1,105,000 | 1,164,239 | ||||||
New Jersey Economic Development Authority Rev., (Beloved Community Charter School, Inc.), 5.00%, 6/15/54(2) | 725,000 | 762,000 | ||||||
New Jersey Economic Development Authority Rev., (Port Newark Container Terminal LLC), 5.00%, 10/1/47 | 5,000,000 | 5,578,226 | ||||||
New Jersey Economic Development Authority Rev., (United Airlines, Inc.), 5.625%, 11/15/30 | 455,000 | 488,617 | ||||||
New Jersey Educational Facilities Authority Rev., (College of Saint Elizabeth), 5.00%, 7/1/46 | 2,500,000 | 2,626,778 | ||||||
New Jersey Health Care Facilities Financing Authority Rev., (AtlantiCare Health System Obligated Group), 4.00%, 7/1/35 | 1,010,000 | 1,169,698 | ||||||
New Jersey Health Care Facilities Financing Authority Rev., (RWJ Barnabas Health Obligated Group), 4.00%, 7/1/51 | 2,000,000 | 2,226,810 | ||||||
New Jersey Transportation Trust Fund Authority Rev., 5.00%, 6/15/44 | 5,000,000 | 5,681,969 | ||||||
State of New Jersey GO, 4.00%, 6/1/32 | 900,000 | 1,047,959 | ||||||
Tobacco Settlement Financing Corp. Rev., 5.25%, 6/1/46 | 2,000,000 | 2,281,422 | ||||||
32,671,325 | ||||||||
New Mexico — 0.8% | ||||||||
Lower Petroglyphs Public Improvement District Special Tax, 5.00%, 10/1/33 | 500,000 | 529,385 | ||||||
Lower Petroglyphs Public Improvement District Special Tax, 5.00%, 10/1/38 | 450,000 | 472,005 | ||||||
Lower Petroglyphs Public Improvement District Special Tax, 5.00%, 10/1/48 | 1,200,000 | 1,251,779 | ||||||
Santa Fe Rev., (El Castillo Retirement Residences Obligated Group), 2.625%, 5/15/25 | 800,000 | 800,414 | ||||||
Winrock Town Center Tax Increment Development District No. 1 Tax Allocation, 4.00%, 5/1/33(1)(2) | 1,000,000 | 991,970 | ||||||
Winrock Town Center Tax Increment Development District No. 1 Tax Allocation, 4.25%, 5/1/40(1)(2) | 2,750,000 | 2,725,834 | ||||||
6,771,387 | ||||||||
New York — 9.7% | ||||||||
Buffalo & Erie County Industrial Land Development Corp. Rev., (Orchard Park CCRC, Inc.), 5.00%, 11/15/37 | 1,500,000 | 1,629,010 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/32(2) | 625,000 | 686,604 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/37(2) | 500,000 | 545,983 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/47(2) | 1,000,000 | 1,081,177 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/52(2) | 1,000,000 | 1,079,554 | ||||||
Huntington Local Development Corp. Rev., (Gurwin Independent Housing Obligated Group), 3.00%, 7/1/25 | 1,625,000 | 1,600,120 | ||||||
Long Island Power Authority Rev., VRN, 1.50%, 9/1/51 | 3,870,000 | 3,841,957 | ||||||
Metropolitan Transportation Authority Rev., 5.00%, 9/1/22 | 2,600,000 | 2,652,927 | ||||||
Metropolitan Transportation Authority Rev., 4.00%, 11/15/45 | 3,865,000 | 4,165,517 | ||||||
Metropolitan Transportation Authority Rev., 5.25%, 11/15/55 | 5,000,000 | 5,840,150 | ||||||
Metropolitan Transportation Authority Rev., VRN, 5.00%, 11/15/45 | 5,000,000 | 5,991,456 | ||||||
New York City GO, 4.00%, 8/1/50 | 7,000,000 | 7,800,077 | ||||||
New York City Industrial Development Agency Rev., (Queens Ballpark Co. LLC), 5.00%, 1/1/27 (AGM) | 1,000,000 | 1,148,548 | ||||||
New York City Industrial Development Agency Rev., (Queens Ballpark Co. LLC), 5.00%, 1/1/28 (AGM) | 300,000 | 351,741 | ||||||
New York City Industrial Development Agency Rev., (TrIPs Obligated Group), 5.00%, 7/1/28 | 1,000,000 | 1,011,197 | ||||||
New York City Transitional Finance Authority Future Tax Secured Rev., 4.00%, 11/1/36 | 2,330,000 | 2,681,857 | ||||||
New York City Transitional Finance Authority Future Tax Secured Rev., VRDN, 0.11%, 3/1/22 (SBBPA: Mizuho Bank Ltd.) | 2,400,000 | 2,400,000 | ||||||
New York City Water & Sewer System Rev., 5.00%, 6/15/25 | 1,535,000 | 1,713,337 |
New York City Water & Sewer System Rev., 5.00%, 6/15/50 | 5,000,000 | 6,089,680 | ||||||
New York City Water & Sewer System Rev., 5.00%, 6/15/52 | 7,500,000 | 9,264,011 | ||||||
New York Counties Tobacco Trust Rev., 4.00%, 6/1/51 | 1,500,000 | 1,492,235 | ||||||
New York Counties Tobacco Trust Rev., 5.00%, 6/1/51 | 1,000,000 | 1,079,153 | ||||||
New York State Dormitory Authority Rev., 5.00%, 9/15/28, Prerefunded at 100% of Par(3) | 5,000 | 6,050 | ||||||
New York State Dormitory Authority Rev., (Orange Regional Medical Center Obligated Group), 5.00%, 12/1/27(2) | 1,000,000 | 1,166,204 | ||||||
New York Transportation Development Corp. Rev., (American Airlines, Inc.), 3.00%, 8/1/31 (GA: American Airlines Group) | 1,870,000 | 1,905,399 | ||||||
New York Transportation Development Corp. Rev., (Delta Air Lines, Inc.), 4.375%, 10/1/45 | 4,500,000 | 4,823,852 | ||||||
New York Transportation Development Corp. Rev., (Empire State Thruway Partners LLC), 4.00%, 10/31/46 | 500,000 | 542,925 | ||||||
New York Transportation Development Corp. Rev., (Empire State Thruway Partners LLC), 4.00%, 4/30/53 | 1,500,000 | 1,615,631 | ||||||
New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 4.00%, 12/1/41 | 1,800,000 | 1,948,736 | ||||||
New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 4.00%, 12/1/42 | 1,800,000 | 1,944,752 | ||||||
Town of Oyster Bay GO, 4.00%, 3/1/27 (AGM) | 800,000 | 890,782 | ||||||
Town of Oyster Bay GO, 4.00%, 3/1/28 (AGM) | 825,000 | 931,371 | ||||||
Triborough Bridge & Tunnel Authority Rev., (Metropolitan Transportation Authority Payroll Mobility Tax Rev.), VRN, 5.00%, 5/15/50 | 1,875,000 | 2,131,330 | ||||||
Westchester County Local Development Corp. Rev., (Purchase Senior Learning Community Obligated Group), 3.20%, 7/1/28(2) | 3,000,000 | 2,952,435 | ||||||
Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/39 | 320,000 | 352,973 | ||||||
Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/49 | 640,000 | 696,994 | ||||||
Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/54 | 465,000 | 504,799 | ||||||
86,560,524 | ||||||||
North Carolina — 1.2% | ||||||||
North Carolina Medical Care Commission Rev., (Caromont Health Obligated Group), VRN, 5.00%, 2/1/51 | 1,250,000 | 1,412,935 | ||||||
North Carolina Medical Care Commission Rev., (Maryfield, Inc. Obligated Group), 2.875%, 10/1/26 | 595,000 | 595,126 | ||||||
North Carolina Medical Care Commission Rev., (Maryfield, Inc. Obligated Group), 5.00%, 10/1/35 | 1,000,000 | 1,039,183 | ||||||
North Carolina Medical Care Commission Rev., (Moravian Home, Inc.), 5.00%, 10/1/48 | 3,000,000 | 3,209,555 | ||||||
North Carolina Medical Care Commission Rev., (Presbyterian Home at Charlotte, Inc.), 5.00%, 7/1/49 | 1,500,000 | 1,620,733 | ||||||
North Carolina Medical Care Commission Rev., (Southminster, Inc.), 5.00%, 10/1/37 | 1,500,000 | 1,584,359 | ||||||
North Carolina Medical Care Commission Rev., (United Church Homes & Services Obligated Group), 5.00%, 9/1/23(3) | 610,000 | 643,739 | ||||||
North Carolina Medical Care Commission Rev., (United Church Homes & Services Obligated Group), 5.00%, 9/1/23, Prerefunded at 103% of Par(3) | 280,000 | 303,730 | ||||||
10,409,360 | ||||||||
Ohio — 4.6% | ||||||||
Buckeye Tobacco Settlement Financing Authority Rev., 5.00%, 6/1/55 | 17,920,000 | 19,521,940 | ||||||
Buckeye Tobacco Settlement Financing Authority Rev., Capital Appreciation, 0.00%, 6/1/57(4) | 15,000,000 | 2,342,740 | ||||||
Centerville Rev., (Graceworks Lutheran Services), 5.00%, 11/1/25 | 1,420,000 | 1,522,891 | ||||||
Cleveland-Cuyahoga County Port Authority Rev., (Playhouse Square Foundation), 5.50%, 12/1/53 | 2,500,000 | 2,791,664 | ||||||
Columbus-Franklin County Finance Authority Rev., (Ohio Dominican University), 6.50%, 3/1/48 | 6,000,000 | 5,999,358 | ||||||
Cuyahoga County Rev., (MetroHealth System), 5.00%, 2/15/28 | 1,250,000 | 1,446,787 | ||||||
Muskingum County Rev., (Genesis Healthcare System Obligated Group), 5.00%, 2/15/44 | 2,500,000 | 2,563,567 | ||||||
Northeast Ohio Regional Sewer District Rev., 4.00%, 11/15/37 | 1,000,000 | 1,160,095 | ||||||
Ohio Air Quality Development Authority Rev., (Pratt Paper, Inc.), 4.25%, 1/15/38 (GA: Pratt Industries, Inc.)(2) | 1,000,000 | 1,095,532 | ||||||
Ohio Higher Educational Facility Commission Rev., (Cleveland Institute of Art), 5.50%, 12/1/53 | 1,900,000 | 2,083,424 | ||||||
40,527,998 | ||||||||
Oregon — 0.7% | ||||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 3.25%, 11/15/25 | 2,000,000 | 2,000,785 | ||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.125%, 11/15/40 | 250,000 | 267,745 | ||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.25%, 11/15/50 | 1,000,000 | 1,069,860 | ||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.375%, 11/15/55 | 1,500,000 | 1,608,514 | ||||||
Oregon Health & Science University Rev., (Obligated Group), 4.00%, 7/1/51 | 1,500,000 | 1,673,976 | ||||||
6,620,880 | ||||||||
Pennsylvania — 4.8% | ||||||||
Allegheny County Airport Authority Rev., 5.00%, 1/1/26 | 1,750,000 | 1,949,581 | ||||||
Allegheny County Airport Authority Rev., 5.00%, 1/1/27 | 2,000,000 | 2,273,250 |
Berks County Industrial Development Authority Rev., (Tower Health Obligated Group), 5.00%, 11/1/47 | 3,000,000 | 3,163,284 | ||||||
Berks County Municipal Authority Rev., (Alvernia University), 5.00%, 10/1/49 | 1,225,000 | 1,301,093 | ||||||
Chester County Industrial Development Authority Special Assessment, (Woodlands at Greystone Neighborhood Improvement District), 5.00%, 3/1/38(2) | 504,000 | 552,284 | ||||||
Chester County Industrial Development Authority Special Assessment, (Woodlands at Greystone Neighborhood Improvement District), 5.125%, 3/1/48(2) | 987,000 | 1,079,827 | ||||||
Crawford County Hospital Authority Rev., (Meadville Medical Center Obligated Group), 6.00%, 6/1/46 | 1,500,000 | 1,638,596 | ||||||
Franklin County Industrial Development Authority Rev., (Menno-Haven, Inc. Obligated Group), 5.00%, 12/1/48 | 1,170,000 | 1,250,729 | ||||||
Geisinger Authority Rev., (Geisinger Health System Obligated Group), VRN, 5.00%, 4/1/43 | 2,500,000 | 2,869,059 | ||||||
Hospitals & Higher Education Facilities Authority of Philadelphia Rev., (Temple University Health System Obligated Group), 5.625%, 7/1/42 | 2,500,000 | 2,535,976 | ||||||
Lancaster County Hospital Authority Rev., (Brethren Village Obligated Group), 5.125%, 7/1/37 | 1,000,000 | 1,079,359 | ||||||
Montgomery County Industrial Development Authority Rev., (Albert Einstein Healthcare Network Obligated Group), 5.25%, 1/15/25, Prerefunded at 100% of Par(3) | 1,250,000 | 1,383,185 | ||||||
Pennsylvania GO, 5.00%, 7/15/29 | 7,000,000 | 8,593,233 | ||||||
Pennsylvania Economic Development Financing Authority Rev., (Covanta Holding Corp.), 3.25%, 8/1/39(2) | 1,000,000 | 979,100 | ||||||
Philadelphia GO, 5.00%, 1/15/24, Prerefunded at 100% of Par(3) | 1,500,000 | 1,606,327 | ||||||
Philadelphia Authority for Industrial Development Rev., (First Philadelphia Preparatory Charter School), 7.25%, 6/15/43 | 1,500,000 | 1,657,635 | ||||||
Philadelphia Authority for Industrial Development Rev., (KIPP Philadelphia Charter School), 4.00%, 4/1/26 | 345,000 | 357,051 | ||||||
Philadelphia Authority for Industrial Development Rev., (KIPP Philadelphia Charter School), 5.00%, 4/1/46 | 2,000,000 | 2,123,262 | ||||||
Philadelphia Authority for Industrial Development Rev., (Philadelphia Performing Arts Charter School), 5.00%, 6/15/50(2) | 1,000,000 | 1,092,881 | ||||||
School District of Philadelphia GO, 5.00%, 9/1/25 | 2,500,000 | 2,801,970 | ||||||
Scranton-Lackawanna Health & Welfare Authority Rev., (Marywood University), 5.00%, 6/1/36 | 1,000,000 | 1,056,647 | ||||||
Scranton-Lackawanna Health & Welfare Authority Rev., (Marywood University), 5.00%, 6/1/46 | 1,050,000 | 1,096,835 | ||||||
42,441,164 | ||||||||
Puerto Rico — 1.9% | ||||||||
Puerto Rico GO, 8.00%, 7/1/35(5)(6) | 10,000,000 | 9,012,505 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Rev., 4.33%, 7/1/40 | 2,500,000 | 2,737,585 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Rev., 5.00%, 7/1/58 | 3,000,000 | 3,364,356 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Rev., Capital Appreciation, 0.00%, 7/1/46(4) | 5,000,000 | 1,624,305 | ||||||
16,738,751 | ||||||||
Rhode Island — 0.4% | ||||||||
Rhode Island Health & Educational Building Corp. Rev., (Care New England Health System Obligated Group), 5.00%, 9/1/36 | 2,125,000 | 2,347,801 | ||||||
Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/50 | 1,000,000 | 1,072,668 | ||||||
3,420,469 | ||||||||
South Carolina — 0.7% | ||||||||
Berkeley County Special Assessment, (Berkeley County Nexton Improvement District), 4.375%, 11/1/49 | 1,500,000 | 1,598,866 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (Greenville Renewable Energy Education Charter School Obligated Group), 4.00%, 6/1/56(2) | 1,530,000 | 1,543,410 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (South Carolina Episcopal Home at Still Hopes Obligated Group), 5.00%, 4/1/48 | 1,000,000 | 1,058,772 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (Upstate Senior Living, Inc. Obligated Group), 5.00%, 11/15/42 | 585,000 | 634,185 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (Upstate Senior Living, Inc. Obligated Group), 5.00%, 11/15/54 | 1,000,000 | 1,072,828 | ||||||
5,908,061 | ||||||||
Tennessee — 1.8% | ||||||||
Metropolitan Government Nashville & Davidson County Industrial Development Board Special Assessment, (South Nashville Central Business Improvement District), 4.00%, 6/1/51(2) | 1,600,000 | 1,559,482 | ||||||
Metropolitan Nashville Airport Authority Rev., 5.00%, 7/1/49 | 2,000,000 | 2,361,950 | ||||||
Nashville Metropolitan Development & Housing Agency Tax Allocation, 5.125%, 6/1/36(2) | 500,000 | 549,627 | ||||||
State of Tennessee GO, 5.00%, 11/1/34 | 4,615,000 | 5,960,481 | ||||||
Tennessee Energy Acquisition Corp. Rev., VRN, 4.00%, 11/1/49 (GA: Goldman Sachs Group, Inc.) | 5,500,000 | 5,906,178 | ||||||
16,337,718 | ||||||||
Texas — 7.9% | ||||||||
Board of Managers Joint Guadalupe County-City of Seguin Hospital Rev., 5.00%, 12/1/40 | 1,000,000 | 1,053,567 | ||||||
Board of Managers Joint Guadalupe County-City of Seguin Hospital Rev., 5.00%, 12/1/45 | 2,000,000 | 2,097,677 |
Clifton Higher Education Finance Corp. Rev., (International American Education Federation, Inc.), 6.125%, 8/15/48 | 9,950,000 | 11,055,716 | ||||||
Fort Worth Independent School District GO, 4.00%, 2/15/36 (PSF-GTD) | 5,000,000 | 5,842,427 | ||||||
Harris County Cultural Education Facilities Finance Corp. Rev., (Brazos Presbyterian Homes, Inc.), 5.00%, 1/1/37 | 1,750,000 | 1,888,679 | ||||||
Harris County Cultural Education Facilities Finance Corp. Rev., (Texas Children's Hospital Obligated Group), 4.00%, 10/1/47 | 4,500,000 | 5,068,545 | ||||||
Houston Airport System Rev., (United Airlines, Inc.), 4.00%, 7/15/41 | 1,740,000 | 1,799,522 | ||||||
Mission Economic Development Corp. Rev., (Natgasoline LLC), 4.625%, 10/1/31(2) | 2,500,000 | 2,628,726 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Corpus Christi II LLC), 5.00%, 4/1/26, Prerefunded at 100% of Par(3) | 1,850,000 | 2,106,577 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Corpus Christi II LLC), 5.00%, 4/1/26, Prerefunded at 100% of Par(3) | 1,615,000 | 1,838,985 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/24(3) | 1,385,000 | 1,491,017 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/25(3) | 1,505,000 | 1,666,950 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/26(3) | 1,000,000 | 1,138,690 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/27, Prerefunded at 100% of Par(3) | 570,000 | 664,402 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/27(3) | 1,260,000 | 1,468,679 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/27, Prerefunded at 100% of Par(3) | 1,120,000 | 1,305,492 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/27, Prerefunded at 100% of Par(3) | 2,750,000 | 3,205,450 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/25(3) | 290,000 | 321,206 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/26, Prerefunded at 100% of Par(3) | 1,300,000 | 1,480,298 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/26, Prerefunded at 100% of Par(3) | 1,000,000 | 1,138,690 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/26(3) | 390,000 | 444,089 | ||||||
North East Texas Regional Mobility Authority Rev., 5.00%, 1/1/31 | 1,805,000 | 1,992,066 | ||||||
Port Freeport Rev., 4.00%, 6/1/46 | 1,000,000 | 1,075,084 | ||||||
Port Freeport Rev., 4.00%, 6/1/51 | 1,000,000 | 1,070,044 | ||||||
Pottsboro Higher Education Finance Corp. Rev., (Imagine International Academy of North Texas), 5.00%, 8/15/46 | 1,000,000 | 1,053,320 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Rev., (Buckner Senior Living, Inc.), 6.75%, 11/15/47 | 5,095,000 | 5,588,893 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Rev., (Methodist Hospitals of Dallas Obligated Group), 4.00%, 10/1/47 | 1,000,000 | 1,130,243 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Rev., (MRC Senior Living Fort Worth Obligated Group), 4.00%, 11/15/27 | 5,000,000 | 5,029,123 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. III Rev., 5.00%, 12/15/24 (GA: Macquarie Group Ltd.) | 1,350,000 | 1,461,438 | ||||||
Texas Private Activity Bond Surface Transportation Corp. Rev., (NTE Mobility Partners Segments 3 LLC), 5.00%, 6/30/58 | 2,000,000 | 2,286,747 | ||||||
70,392,342 | ||||||||
Utah — 0.4% | ||||||||
UIPA Crossroads Public Infrastructure District Tax Allocation, (AJL Project Area), 4.375%, 6/1/52(2) | 4,250,000 | 3,982,359 | ||||||
Virginia — 1.9% | ||||||||
Cherry Hill Community Development Authority Special Assessment, 5.40%, 3/1/45(2) | 1,000,000 | 1,042,331 | ||||||
Danville Industrial Development Authority Rev., (Averett University Obligated Group), 5.00%, 10/1/47 | 2,500,000 | 2,559,752 | ||||||
Dullles Town Center Community Development Authority Special Assessment, 4.25%, 3/1/26 | 1,750,000 | 1,750,909 | ||||||
Henrico County Economic Development Authority Rev., (LifeSpire of Virginia Obligated Group), 5.00%, 12/1/47 | 2,200,000 | 2,426,929 | ||||||
Lower Magnolia Green Community Development Authority Special Assessment, 5.00%, 3/1/45(2) | 980,000 | 1,007,422 | ||||||
Lynchburg Economic Development Authority Rev., (Centra Health Obligated Group), 4.00%, 1/1/55 | 500,000 | 545,769 | ||||||
Peninsula Town Center Community Development Authority Special Assessment, 5.00%, 9/1/37(2) | 2,000,000 | 2,112,064 | ||||||
Peninsula Town Center Community Development Authority Special Assessment, 5.00%, 9/1/45(2) | 2,250,000 | 2,370,216 | ||||||
Prince William County Industrial Development Authority Rev., (Westminster Presbyterian Retirement Community, Inc.), 5.00%, 1/1/26 | 1,165,000 | 1,242,584 | ||||||
Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/47 | 1,000,000 | 1,007,273 |
Virginia Small Business Financing Authority Rev., (Covanta Holding Corp.), VRN, 5.00%, 1/1/48(2) | 1,000,000 | 1,021,776 | ||||||
17,087,025 | ||||||||
Washington — 3.2% | ||||||||
Energy Northwest Electric Rev., (Bonneville Power Administration), 5.00%, 7/1/31 | 3,610,000 | 4,520,614 | ||||||
State of Washington GO, 5.00%, 8/1/44 | 9,235,000 | 11,515,552 | ||||||
Washington State Housing Finance Commission Rev., (Bayview Manor Homes Obligated Group), 4.00%, 7/1/26(2) | 675,000 | 692,474 | ||||||
Washington State Housing Finance Commission Rev., (Lutheran Retirement Home of Greater Seattle Obligated Group), 5.00%, 7/1/38(2) | 830,000 | 863,252 | ||||||
Washington State Housing Finance Commission Rev., (Lutheran Retirement Home of Greater Seattle Obligated Group), 5.00%, 7/1/48(2) | 1,900,000 | 1,946,464 | ||||||
Washington State Housing Finance Commission Rev., (Spokane United Methodist Homes Obligated Group), 3.375%, 7/1/28(2) | 7,200,000 | 7,064,770 | ||||||
Washington State Housing Finance Commission Rev., (Spokane United Methodist Homes Obligated Group), 7.50%, 1/1/49(2) | 2,000,000 | 2,152,338 | ||||||
28,755,464 | ||||||||
West Virginia — 0.6% | ||||||||
West Virginia Parkways Authority Rev., 5.00%, 6/1/47 | 4,500,000 | 5,499,170 | ||||||
Wisconsin — 2.5% | ||||||||
Public Finance Authority Rev., (Appalachian Regional Healthcare System Obligated Group), 4.00%, 7/1/51 | 1,100,000 | 1,209,690 | ||||||
Public Finance Authority Rev., (Appalachian Regional Healthcare System Obligated Group), 4.00%, 7/1/56 | 1,500,000 | 1,644,639 | ||||||
Public Finance Authority Rev., (Bancroft Neurohealth Obligated Group), 5.125%, 6/1/48(2) | 1,000,000 | 1,062,750 | ||||||
Public Finance Authority Rev., (Bancroft Neurohealth/Bancroft Rehabilitation Services Obligated Group), 5.00%, 6/1/24(2) | 1,575,000 | 1,652,000 | ||||||
Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/50 (AGM) | 700,000 | 754,647 | ||||||
Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/55 (AGM) | 1,000,000 | 1,074,454 | ||||||
Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/59 (AGM) | 1,350,000 | 1,449,699 | ||||||
Public Finance Authority Rev., (North Carolina Leadership Charter Academy, Inc.), 5.00%, 6/15/49(2) | 520,000 | 554,394 | ||||||
Public Finance Authority Rev., (North Carolina Leadership Charter Academy, Inc.), 5.00%, 6/15/54(2) | 455,000 | 484,159 | ||||||
Public Finance Authority Rev., (Roseman University of Health Sciences), 5.50%, 4/1/32 | 2,000,000 | 2,008,034 | ||||||
Public Finance Authority Rev., (Roseman University of Health Sciences), 5.00%, 4/1/50(2) | 1,000,000 | 1,107,724 | ||||||
Public Finance Authority Rev., (Southminster, Inc.), 5.00%, 10/1/48(2) | 2,750,000 | 2,938,240 | ||||||
Public Finance Authority Rev., (UHF RISE Student Housing LLC), 4.00%, 7/1/61(2) | 1,125,000 | 1,156,726 | ||||||
Public Finance Authority Rev., (UHF RISE Student Housing LLC), 5.25%, 7/1/61(2) | 1,085,000 | 1,074,748 | ||||||
Public Finance Authority Rev., (Washoe Barton Medical Clinic), 4.00%, 12/1/51 | 1,500,000 | 1,649,660 | ||||||
Wisconsin Health & Educational Facilities Authority Rev., (State Camillus Health System Obligated Group), 5.00%, 11/1/54 | 2,000,000 | 2,141,212 | ||||||
21,962,776 | ||||||||
TOTAL MUNICIPAL SECURITIES (Cost $829,919,937) | 855,348,754 | |||||||
EXCHANGE-TRADED FUNDS — 2.0% | ||||||||
iShares National Muni Bond ETF | 80,400 | 9,062,688 | ||||||
Vanguard Tax-Exempt Bond Index ETF | 169,800 | 9,040,152 | ||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $18,725,691) | 18,102,840 | |||||||
AFFILIATED FUNDS(7) — 1.0% | ||||||||
American Century Diversified Municipal Bond ETF (Cost $8,730,427) | 169,300 | 9,023,690 | ||||||
TOTAL INVESTMENT SECURITIES — 99.2% (Cost $857,376,055) | 882,475,284 | |||||||
OTHER ASSETS AND LIABILITIES — 0.8% | 6,695,219 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 889,170,503 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AGM | - | Assured Guaranty Municipal Corporation | ||||||
BAM | - | Build America Mutual Assurance Company | ||||||
COP | - | Certificates of Participation | ||||||
GA | - | Guaranty Agreement | ||||||
GO | - | General Obligation | ||||||
PSF-GTD | - | Permanent School Fund Guaranteed | ||||||
SBBPA | - | Standby Bond Purchase Agreement | ||||||
VRDN | - | Variable Rate Demand Note. The instrument may be payable upon demand and adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The date of the demand feature is disclosed. | ||||||
VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
Level 1 ($) | Level 2 ($) | Level 3 ($) | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Municipal Securities | — | 855,348,754 | — | ||||||||
Exchange-Traded Funds | 18,102,840 | — | — | ||||||||
Affiliated Funds | 9,023,690 | — | — | ||||||||
27,126,530 | 855,348,754 | — |
Affiliated Fund(1) | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Distributions Received(2) | ||||||||||||||||||
American Century Diversified Municipal Bond ETF | $ | 10,864 | — | $ | 1,404 | $ | (436) | $ | 9,024 | 169 | $ | 75 | $ | 116 |