0000932471-17-004002.txt : 20170427 0000932471-17-004002.hdr.sgml : 20170427 20170427153049 ACCESSION NUMBER: 0000932471-17-004002 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170228 FILED AS OF DATE: 20170427 DATE AS OF CHANGE: 20170427 EFFECTIVENESS DATE: 20170427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD PENNSYLVANIA TAX-FREE FUNDS CENTRAL INDEX KEY: 0000788606 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04571 FILM NUMBER: 17788680 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PENNSYLVANIA TAX FREE FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PENNSYLVANIA INSURED TAX FREE FUND DATE OF NAME CHANGE: 19880407 0000788606 S000002911 Vanguard Pennsylvania Long-Term Tax-Exempt Fund C000007976 Investor Shares VPAIX C000007977 Admiral Shares VPALX 0000788606 S000002912 Vanguard Pennsylvania Municipal Money Market Fund C000007978 Investor Shares VPTXX N-Q 1 pataxfree_final.htm pataxfree_final.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT COMPANY

Investment Company Act file number: 811-04571

Name of Registrant: Vanguard Pennsylvania Tax-Free Funds

Address of Registrant:
P.O. Box 2600
Valley Forge, PA 19482

Name and address of agent for service:
Anne E. Robinson, Esquire
P.O. Box 876
Valley Forge, PA 19482

Date of fiscal year end: November 30

Date of reporting period: February 28, 2017

Item 1: Schedule of Investments


Vanguard Pennsylvania Tax-Exempt Money Market Fund

Schedule of Investments (unaudited)

As of February 28, 2017

        Face Market
      Maturity Amount Value
    Coupon Date ($000) ($000)
Tax-Exempt Municipal Bonds (100.5%)        
Pennsylvania (100.5%)        
  Allegheny County PA GO VRDO 0.640% 3/7/17 LOC 3,500 3,500
  Allegheny County PA Higher Education Building        
  Authority University Revenue (Carnegie        
  Mellon University) VRDO 0.570% 3/1/17 80,720 80,720
  Allegheny County PA Hosp. Dev. Auth. Rev.        
  (Jefferson Regional Medical Center) VRDO 0.650% 3/7/17 LOC 5,580 5,580
  Allegheny County PA Hospital Development        
  Authority Revenue (Concordia Lutheran)        
  VRDO 0.640% 3/7/17 LOC 40,250 40,250
  Allegheny County PA Hospital Development        
  Authority Revenue (Jefferson Regional        
  Medical Center) VRDO 0.650% 3/7/17 LOC 22,000 22,000
1,2 Allegheny County PA Hospital Development        
  Authority Revenue (University of Pittsburgh        
  Medical Center) TOB PUT 0.840% 3/1/17 LOC 20,000 20,000
2 Allegheny County PA Hospital Development        
  Authority Revenue (University of Pittsburgh        
  Medical Center) TOB VRDO 0.620% 3/1/17 LOC 19,500 19,500
2 Allegheny County PA Hospital Development        
  Authority Revenue (University of Pittsburgh        
  Medical Center) TOB VRDO 0.620% 3/1/17 LOC 2,000 2,000
  Allegheny County PA Industrial Development        
  Authority Revenue (Western Pennsylvania        
  School for Blind Children) VRDO 0.640% 3/7/17 10,300 10,300
  Bucks County PA Industrial Development        
  Authority Hospital Revenue (Grand View        
  Hospital) VRDO 0.630% 3/7/17 LOC 27,995 27,995
  Bucks County PA Industrial Development        
  Authority Hospital Revenue (Grand View        
  Hospital) VRDO 0.640% 3/7/17 LOC 11,665 11,665
  Butler County PA General Authority Revenue        
  (Erie School District Project) VRDO 0.650% 3/7/17 LOC 12,340 12,340
  Butler County PA General Authority Revenue        
  (North Allegheny School District Project)        
  VRDO 0.640% 3/7/17 25,810 25,810
  Butler County PA Hospital Authority Revenue        
  (Concordia Lutheran Obligated Group) VRDO 0.640% 3/7/17 LOC 11,110 11,110
  Butler County PA Hospital Authority Revenue        
  (Concordia Lutheran Obligated Group) VRDO 0.640% 3/7/17 LOC 7,345 7,345
  Chambersburg PA Authority Revenue (Wilson        
  College Project) VRDO 0.670% 3/7/17 LOC 9,000 9,000
  Chester County PA GO 5.000% 7/15/17 (Prere.) 4,345 4,418
  Delaware County PA Industrial Development        
  Authority Airport Facilities Revenue (United        
  Parcel Service Inc.) VRDO 0.570% 3/1/17 45,690 45,690
  Delaware County PA Industrial Development        
  Authority Solid Waste Revenue (Scott Paper        
  Co.) VRDO 0.680% 3/7/17 2,100 2,100

 

 

Delaware County PA Industrial Development        
Authority Solid Waste Revenue (Scott Paper        
Co.) VRDO 0.680% 3/7/17 12,000 12,000
Delaware County PA Industrial Development        
Authority Solid Waste Revenue (Scott Paper        
Co.) VRDO 0.680% 3/7/17 13,500 13,500
Delaware River Joint Toll Bridge Commission        
Pennsylvania & New Jersey Revenue 5.000% 7/1/17 (Prere.) 1,425 1,445
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue VRDO 0.630% 3/7/17 LOC 15,965 15,965
East Stroudsburg PA Area School District GO 7.750% 9/1/17 (Prere.) 4,040 4,176
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 2,200 2,200
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 900 900
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 15,200 15,200
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 2,800 2,800
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 6,800 6,800
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 5,700 5,700
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 18,600 18,600
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 10,000 10,000
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 12,000 12,000
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 1,200 1,200
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 4,300 4,300
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 500 500
Emmaus PA General Authority Revenue VRDO 0.640% 3/7/17 LOC 6,500 6,500
Emmaus PA General Authority Revenue VRDO 0.650% 3/7/17 LOC 36,485 36,485
2 Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) TOB        
VRDO 0.670% 3/7/17 2,785 2,785
2 Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) TOB        
VRDO 0.670% 3/7/17 5,230 5,230
2 Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) TOB        
VRDO 0.670% 3/7/17 5,000 5,000
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) VRDO 0.550% 3/1/17 50,000 50,000
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) VRDO 0.570% 3/1/17 11,390 11,390
Haverford Township PA School District GO        
VRDO 0.640% 3/7/17 LOC 11,735 11,735
Lancaster County PA Hospital Authority Health        
Center Revenue (Masonic Homes Project)        
VRDO 0.570% 3/1/17 LOC 11,625 11,625
2 Lancaster County PA Hospital Authority Health        
System Revenue (Lancaster General Hospital        
Project) TOB VRDO 0.670% 3/7/17 (Prere.) 3,410 3,410
2 Lancaster County PA Hospital Authority Health        
System Revenue (Lancaster General Hospital        
Project) TOB VRDO 0.670% 3/7/17 (Prere.) 6,765 6,765
2 Lancaster County PA Hospital Authority        
Revenue (University of Pennsylvania Health        
System) TOB VRDO 0.680% 3/7/17 3,750 3,750
Lower Merion PA School District GO 5.000% 9/1/17 (Prere.) 6,930 7,071
Lower Merion PA School District GO VRDO 0.630% 3/7/17 LOC 35,595 35,595
Lower Merion PA School District GO VRDO 0.630% 3/7/17 LOC 25,840 25,840
Montgomery County PA GO VRDO 0.560% 3/1/17 28,480 28,480

 

 

Montgomery County PA Industrial Development        
Authority Revenue (Friends' Central School        
Project) VRDO 0.620% 3/7/17 LOC 2,415 2,415
Montgomery County PA Redevelopment        
Authority Revenue (Forge Gate Apartments        
Project) VRDO 0.640% 3/7/17 LOC 9,765 9,765
Northampton County PA General Purpose        
Authority University Revenue (Lafayette        
College) VRDO 0.650% 3/7/17 5,500 5,500
Northampton County PA General Purpose        
Authority University Revenue (Lafayette        
College) VRDO 0.650% 3/7/17 5,090 5,090
Northampton County PA General Purpose        
Authority University Revenue (Lafayette        
College) VRDO 0.650% 3/7/17 21,290 21,290
Northampton County PA General Purpose        
Authority University Revenue (Lehigh        
University) VRDO 0.600% 3/7/17 8,855 8,855
Northampton County PA General Purpose        
Authority University Revenue (Lehigh        
University) VRDO 0.610% 3/7/17 14,805 14,805
Northampton County PA General Purpose        
Authority University Revenue (Lehigh        
University) VRDO 0.610% 3/7/17 7,275 7,275
Pennsylvania Economic Development Financing        
Authority Exempt Facilities Revenue (York        
Water Co. Project) VRDO 0.670% 3/7/17 LOC 12,000 12,000
Pennsylvania Economic Development Financing        
Authority Unemployment Compensation        
Revenue 5.000% 7/1/17 7,605 7,711
2 Pennsylvania Economic Development Financing        
Authority Water Facilities Revenue (Aqua        
Pennsylvania Inc. Project) TOB VRDO 0.670% 3/7/17 (13) 9,900 9,900
Pennsylvania GO 4.250% 3/1/17 (Prere.) 6,000 6,000
Pennsylvania GO 5.000% 3/1/17 16,540 16,540
Pennsylvania GO 5.000% 3/1/17 (Prere.) 10,000 10,000
Pennsylvania GO 5.000% 3/1/17 (Prere.) 1,000 1,000
Pennsylvania GO 5.000% 3/15/17 1,330 1,332
Pennsylvania GO 5.000% 5/1/17 14,000 14,098
Pennsylvania GO 5.000% 6/1/17 1,100 1,111
Pennsylvania GO 5.000% 8/1/17 (Prere.) 9,290 9,454
Pennsylvania GO 5.000% 8/15/17 2,275 2,318
2 Pennsylvania GO TOB VRDO 0.670% 3/7/17 5,000 5,000
2 Pennsylvania GO TOB VRDO 0.680% 3/7/17 10,400 10,400
2 Pennsylvania GO TOB VRDO 0.680% 3/7/17 2,000 2,000
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) VRDO 0.620% 3/7/17 LOC 25,070 25,070
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) VRDO 0.630% 3/7/17 LOC 12,635 12,635
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) VRDO 0.640% 3/7/17 LOC 25,525 25,525
Pennsylvania Higher Educational Facilities        
Authority Revenue (Gwynedd Mercy College)        
VRDO 0.630% 3/7/17 LOC 15,750 15,750
Pennsylvania Higher Educational Facilities        
Authority Revenue (Susquehanna University)        
VRDO 0.660% 3/7/17 LOC 4,100 4,100

 

 

2 Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) TOB VRDO 0.670% 3/7/17 6,665 6,665
2 Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) TOB VRDO 0.670% 3/7/17 5,865 5,865
2 Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) TOB VRDO 0.710% 3/7/17 4,095 4,095
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) VRDO 0.600% 3/7/17 LOC 69,695 69,695
2 Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue TOB VRDO 0.670% 3/7/17 6,835 6,835
2 Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue TOB VRDO 0.670% 3/7/17 15,300 15,300
2 Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue TOB VRDO 0.670% 3/7/17 3,270 3,270
2 Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue TOB VRDO 0.700% 3/7/17 2,240 2,240
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.670% 3/7/17 20,800 20,800
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.670% 3/7/17 4,700 4,700
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.680% 3/7/17 6,200 6,200
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.680% 3/7/17 16,730 16,730
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.680% 3/7/17 3,370 3,370
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.700% 3/7/17 6,530 6,530
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.700% 3/7/17 24,910 24,910
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.700% 3/7/17 20,600 20,600
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.700% 3/7/17 16,075 16,075
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue VRDO 0.700% 3/7/17 970 970
Pennsylvania Infrastructure & Investment        
Authority Revenue CP 0.760% 3/6/17 5,013 5,013
Pennsylvania Intergovernmental Cooperation        
Authority Special Tax Revenue (Philadelphia        
Funding Program) 5.000% 6/15/17 1,500 1,518
2 Pennsylvania Intergovernmental Cooperation        
Authority Special Tax Revenue (Philadelphia        
Funding Program) TOB VRDO 0.670% 3/7/17 6,315 6,315
Pennsylvania State University Revenue PUT 0.660% 6/1/17 42,000 42,000
2 Pennsylvania Turnpike Commission Oil        
Franchise Tax Revenue TOB VRDO 0.670% 3/7/17 (Prere.) 10,500 10,500
Philadelphia Airport CP 0.830% 3/8/17 LOC 3,000 3,000
Philadelphia Airport CP 0.820% 4/5/17 LOC 6,000 6,000
Philadelphia Airport CP 0.820% 6/15/17 LOC 12,000 12,000
Philadelphia Authority for Industrial        
Development Revenue (Gift of Life Donor        
Program) VRDO 0.630% 3/7/17 LOC 9,975 9,975

 

 

Philadelphia PA Airport Revenue VRDO 0.650% 3/7/17 LOC 31,555 31,555
Philadelphia PA Airport Revenue VRDO 0.670% 3/7/17 LOC 19,190 19,190
2 Philadelphia PA Authority for Industrial        
Development Revenue (Children's Hospital of        
Philadelphia Project) TOB VRDO 0.670% 3/7/17 7,500 7,500
2 Philadelphia PA Authority for Industrial        
Development Revenue (Children's Hospital of        
Philadelphia Project) TOB VRDO 0.670% 3/7/17 3,750 3,750
Philadelphia PA Authority for Industrial        
Development Revenue (Temple University) 5.000% 4/1/17 5,910 5,931
Philadelphia PA Gas Works Revenue 5.000% 10/1/17 (Prere.) 11,000 11,267
Philadelphia PA Gas Works Revenue CP 0.800% 4/4/17 LOC 21,500 21,500
Philadelphia PA Gas Works Revenue VRDO 0.620% 3/7/17 LOC 5,545 5,545
Philadelphia PA Gas Works Revenue VRDO 0.630% 3/7/17 LOC 18,000 18,000
Philadelphia PA Gas Works Revenue VRDO 0.640% 3/7/17 LOC 24,225 24,225
Philadelphia PA Gas Works Revenue VRDO 0.640% 3/7/17 LOC 3,690 3,690
2 Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project)        
TOB VRDO 0.670% 3/7/17 4,765 4,765
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project)        
VRDO 0.560% 3/1/17 58,400 58,400
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project)        
VRDO 0.560% 3/1/17 3,300 3,300
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project)        
VRDO 0.560% 3/1/17 3,500 3,500
Philadelphia PA Industrial Development        
Authority Lease Revenue VRDO 0.630% 3/7/17 LOC 40,050 40,050
Philadelphia PA TRAN 2.000% 6/30/17 14,455 14,505
Philadelphia PA Water & Waste Water Revenue        
VRDO 0.630% 3/7/17 LOC 30,960 30,960
Pittsburgh PA Water & Sewer Authority        
Revenue VRDO 0.610% 3/7/17 LOC 66,400 66,400
Pittsburgh PA Water & Sewer Authority        
Revenue VRDO 0.640% 3/7/17 LOC 10,000 10,000
Ridley PA School District GO VRDO 0.640% 3/7/17 LOC 11,540 11,540
Somerset PA Area School District GO 5.000% 3/15/17 (Prere.) 5,000 5,008
2 Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group)        
TOB VRDO 0.670% 3/7/17 9,710 9,710
2 Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group)        
TOB VRDO 0.670% 3/7/17 10,000 10,000
2 Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group)        
TOB VRDO 0.670% 3/7/17 3,000 3,000
2 Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group)        
TOB VRDO 0.670% 3/7/17 6,670 6,670

 

 

St. Mary Hospital Authority Pennsylvania Health        
System Revenue (Catholic Health Initiatives)        
VRDO 0.630% 3/7/17 44,200 44,200
State Public School Building Authority        
Pennsylvania School Revenue (North        
Allegheny School District Project) VRDO 0.640% 3/7/17 18,110 18,110
Union County PA Higher Educational Facilities        
Financing Authority University Revenue        
(Bucknell University) VRDO 0.660% 3/7/17 2,985 2,985
University of Pittsburgh of the Commonwealth        
System of Higher Education Pennsylvania        
(University Capital Project) RAN 2.000% 8/15/17 25,000 25,161
University of Pittsburgh PA Revenue CP 0.700% 3/1/17 20,000 20,000
University of Pittsburgh PA Revenue CP 0.710% 3/1/17 20,000 20,000
University of Pittsburgh PA Revenue CP 0.800% 5/1/17 16,621 16,621
University of Pittsburgh PA Revenue CP 0.810% 5/1/17 10,000 10,000
University of Pittsburgh PA Revenue CP 0.810% 5/1/17 20,000 20,000
Washington County PA Hospital Authority        
Revenue (University of Pennsylvania) VRDO 0.600% 3/7/17 10,495 10,495
Washington County PA Hospital Authority        
Revenue (Washington Hospital Project)        
VRDO 0.570% 3/1/17 LOC 6,000 6,000
Total Tax-Exempt Municipal Bonds (Cost $1,961,913)     1,961,913
Other Assets and Liabilities-Net (-0.5%)       (9,161)
Net Assets (100%)       1,952,752

1 Adjustable-rate security.
2 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in
transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2017, the
aggregate value of these securities was $202,220,000, representing 10.4% of net assets.

KEY TO ABBREVIATIONS

ARS - Auction Rate Security.
BAN - Bond Anticipation Note.
COP - Certificate of Participation.
CP - Commercial Paper.
FR - Floating Rate.
GAN - Grant Anticipation Note.
GO - General Obligation Bond.
PILOT – Payments in Lieu of Taxes.
PUT - Put Option Obligation.
RAN - Revenue Anticipation Note.
TAN - Tax Anticipation Note.
TOB - Tender Option Bond.
TRAN - Tax Revenue Anticipation Note.
VRDO - Variable Rate Demand Obligation.
VRDP - Variable Rate Demand Preferred.
(ETM) - Escrowed to Maturity.

 

(Prere.) - Prerefunded.

Scheduled principal and interest payments are guaranteed by:
(1) MBIA (Municipal Bond Investors Assurance).
(2) AMBAC (Ambac Assurance Corporation).
(3) FGIC (Financial Guaranty Insurance Company).
(4) AGM (Assured Guaranty Municipal Corporation).
(5) BIGI (Bond Investors Guaranty Insurance).
(6) Connie Lee Inc.
(7) FHA (Federal Housing Authority).
(8) CapMAC (Capital Markets Assurance Corporation).
(9) American Capital Access Financial Guaranty Corporation.
(10) XL Capital Assurance Inc.
(11) CIFG (CDC IXIS Financial Guaranty).
(12) AGC (Assured Guaranty Corporation).
(13) BHAC (Berkshire Hathaway Assurance Corporation).
(14) NPFG (National Public Finance Guarantee Corporation).
(15) BAM (Build America Mutual Assurance Company).
(16) MAC (Municipal Assurance Corporation).
(17) RAA (Radian Asset Assurance Inc.).
(18) SBLF (Michigan School Bond Loan Fund).
The insurance does not guarantee the market value of the municipal bonds.

LOC - Scheduled principal and interest payments are guaranteed by bank letter of credit.

A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Securities are valued at amortized cost, which approximates market value.

B. Various inputs may be used to determine the value of the fund's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

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 the fund's own assumptions used to determine
the fair value of investments).

At February 28, 2017, 100% of the market value of the fund's investments was determined using amortized cost, in accordance with rules under the Investment Company Act of 1940. Amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, securities valued at amortized cost are considered to be valued using Level 2 inputs.

 

Pennsylvania Tax-Exempt Money Market Fund


Vanguard Pennsylvania Long-Term Tax-Exempt Fund

Schedule of Investments (unaudited)

As of February 28, 2017

      Face Market
    Maturity Amount Value
  Coupon Date ($000) ($000)
Tax-Exempt Municipal Bonds (100.7%)        
Pennsylvania (100.5%)        
Allegheny County PA GO 5.000% 11/1/27 2,575 2,877
Allegheny County PA GO 5.000% 11/1/28 5,000 5,849
Allegheny County PA GO 5.000% 11/1/29 8,000 9,292
Allegheny County PA GO 4.000% 11/1/30 3,000 3,158
Allegheny County PA GO 5.000% 12/1/30 1,365 1,541
Allegheny County PA GO 5.250% 12/1/32 1,000 1,149
Allegheny County PA GO 5.250% 12/1/33 1,000 1,145
Allegheny County PA GO 5.000% 12/1/34 1,695 1,890
Allegheny County PA GO 5.000% 12/1/34 3,600 4,048
Allegheny County PA GO 5.000% 12/1/37 (4) 10,000 11,234
Allegheny County PA GO 5.000% 12/1/37 10,000 11,234
Allegheny County PA GO 5.000% 11/1/41 10,450 11,654
Allegheny County PA Higher Education Building        
Authority University Revenue (Chatham        
University) 5.000% 9/1/30 2,545 2,719
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 5.500% 3/1/21 (Prere.) 770 893
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 5.500% 3/1/21 (Prere.) 1,700 1,972
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 5.500% 3/1/21 (Prere.) 1,940 2,251
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 5.000% 3/1/28 1,950 2,261
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 4.000% 3/1/30 2,375 2,503
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 5.000% 3/1/30 1,180 1,329
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 4.000% 3/1/31 1,550 1,624
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 4.000% 3/1/33 2,045 2,119
Allegheny County PA Higher Education Building        
Authority University Revenue (Duquesne        
University) 5.000% 3/1/33 1,375 1,494
Allegheny County PA Hospital Development        
Authority Revenue (University of Pittsburgh        
Medical Center) 5.375% 8/15/29 4,020 4,346
Allegheny County PA Hospital Development        
Authority Revenue (University of Pittsburgh        
Medical Center) 1.513% 2/1/37 3,000 2,736

 

 

Allegheny County PA Hospital Development        
Authority Revenue (University of Pittsburgh        
Medical Center) 5.625% 8/15/39 10,835 11,736
1 Allegheny County PA Hospital Development        
Authority Revenue (University of Pittsburgh        
Medical Center) TOB VRDO 0.620% 3/1/17 LOC 13,860 13,860
1 Allegheny County PA Hospital Development        
Authority Revenue (University of Pittsburgh        
Medical Center) TOB VRDO 0.620% 3/1/17 LOC 33,700 33,700
Allegheny County PA Port Authority Revenue 5.750% 3/1/29 7,500 8,642
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 6/1/26 (4) 4,925 5,516
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 12/1/27 (15) 5,300 6,202
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 6/1/30 (4) 3,500 3,876
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 12/1/30 (15) 3,400 3,918
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 12/1/35 6,000 6,697
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 12/1/40 4,250 4,697
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.250% 12/1/41 (15) 3,500 3,922
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.250% 12/1/44 (15) 6,210 6,946
Allegheny County PA Sanitary Authority Sewer        
Revenue 5.000% 12/1/45 4,620 5,084
Allentown PA Neighborhood Improvement Zone        
Development Authority Tax Revenue 5.000% 5/1/26 1,180 1,274
Allentown PA Neighborhood Improvement Zone        
Development Authority Tax Revenue 5.000% 5/1/29 250 267
Allentown PA Neighborhood Improvement Zone        
Development Authority Tax Revenue 5.000% 5/1/35 11,530 12,020
Allentown PA Neighborhood Improvement Zone        
Development Authority Tax Revenue 5.000% 5/1/42 15,595 16,176
Beaver County PA Hospital Authority Revenue        
(Heritage Valley Health System Inc.) 5.000% 5/15/25 1,620 1,788
Beaver County PA Hospital Authority Revenue        
(Heritage Valley Health System Inc.) 5.000% 5/15/28 2,000 2,188
Bensalem Township PA School District GO 5.250% 6/15/17 (Prere.) 3,700 3,751
Berks County PA Municipal Authority Revenue        
(Reading Hospital & Medical Center Project) 5.500% 11/1/31 3,500 3,838
Berks County PA Municipal Authority Revenue        
(Reading Hospital & Medical Center Project) 5.750% 11/1/39 4,615 5,063
Berks County PA Municipal Authority Revenue        
(Reading Hospital & Medical Center Project) 5.000% 11/1/40 6,935 7,447
Bethel Park PA School District GO 5.000% 8/1/28 2,745 3,258
Bethel Park PA School District GO 5.000% 8/1/29 2,500 2,946
Bethel Park PA School District GO 4.000% 8/1/31 2,500 2,651
Bristol Township PA School District GO 5.250% 6/1/37 3,000 3,314
1 Bristol Township PA School District GO TOB        
VRDO 1.030% 3/7/17 12,750 12,750
Bucks County PA Water & Sewer Authority        
Water System Revenue 5.000% 12/1/29 (4) 2,000 2,238
Bucks County PA Water & Sewer Authority        
Water System Revenue 5.000% 12/1/33 (4) 2,000 2,201

 

 

Bucks County PA Water & Sewer Authority        
Water System Revenue 5.000% 12/1/37 (4) 3,500 3,804
Bucks County PA Water & Sewer Authority        
Water System Revenue 5.000% 12/1/40 (4) 1,000 1,113
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 7.250% 7/1/19 (Prere.) 310 353
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/26 500 572
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/27 490 553
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/28 540 605
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/29 1,670 1,856
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/30 1,370 1,511
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/35 4,430 4,780
Butler County PA Hospital Authority Revenue        
(Butler Health System Project) 5.000% 7/1/39 3,250 3,457
Cambria County PA GO 5.000% 8/1/23 (ETM) 245 292
Cambria County PA GO 5.000% 8/1/23 (15) 1,255 1,418
Canon-McMillan PA School District GO 5.000% 12/15/37 (15) 3,000 3,344
Canon-McMillan PA School District GO 5.000% 12/1/41 (4) 6,230 6,978
Canonsburg-Houston PA Joint Authority Sewer        
Revenue 5.000% 12/1/27 1,530 1,752
Canonsburg-Houston PA Joint Authority Sewer        
Revenue 5.000% 12/1/28 1,605 1,830
Canonsburg-Houston PA Joint Authority Sewer        
Revenue 5.000% 12/1/30 1,135 1,278
Canonsburg-Houston PA Joint Authority Sewer        
Revenue 5.000% 12/1/40 4,000 4,408
Central Bradford PA Progress Authority        
Revenue (Guthrie Healthcare System) 5.500% 12/1/31 7,125 8,037
Central Bradford PA Progress Authority        
Revenue (Guthrie Healthcare System) 5.375% 12/1/41 3,000 3,309
Centre County PA Hospital Authority Revenue        
(Mount Nittany Medical Center Project) 6.250% 11/15/21 (Prere.) 4,465 5,427
Centre County PA Hospital Authority Revenue        
(Mount Nittany Medical Center Project) 7.000% 11/15/21 (Prere.) 6,930 8,651
Centre County PA Hospital Authority Revenue        
(Mount Nittany Medical Center Project) 5.000% 11/15/32 6,280 6,924
Centre County PA Hospital Authority Revenue        
(Mount Nittany Medical Center Project) 5.000% 11/15/36 5,000 5,455
Centre County PA Hospital Authority Revenue        
(Mount Nittany Medical Center Project) 5.000% 11/15/44 3,000 3,257
Chartiers Valley PA School District GO 5.000% 10/15/35 1,135 1,271
Chartiers Valley PA School District GO 5.000% 10/15/40 2,750 3,060
Cheltenham Township PA School District GO 5.000% 3/15/38 4,210 4,609
Cheltenham Township PA School District GO 5.000% 2/15/40 1,675 1,860
Chester County PA GO 5.000% 11/15/31 3,000 3,424
Chester County PA GO 5.000% 11/15/31 2,350 2,679
Chester County PA Health & Education Facilities        
Authority Revenue (Jefferson Health System) 5.000% 5/15/31 2,720 2,944
2 Chester County PA Health & Education Facilities        
Authority Revenue (Jefferson Health System) 5.000% 5/15/40 30,485 32,706

 

 

Chester County PA Industrial Development        
Authority Student Housing Revenue        
(University Student Housing LLC Project) 5.000% 8/1/30 1,100 1,162
Chester County PA Industrial Development        
Authority Student Housing Revenue        
(University Student Housing LLC Project) 5.000% 8/1/35 785 818
Chester County PA Industrial Development        
Authority Student Housing Revenue        
(University Student Housing LLC Project) 5.000% 8/1/45 2,990 3,084
Clarion County PA Industrial Development        
Authority Revenue (Clarion University        
Foundation Inc. Student Housing Project) 5.000% 7/1/29 2,000 2,135
Clarion County PA Industrial Development        
Authority Revenue (Clarion University        
Foundation Inc. Student Housing Project) 5.000% 7/1/32 (10) 4,980 4,993
Clarion County PA Industrial Development        
Authority Revenue (Clarion University        
Foundation Inc. Student Housing Project) 5.000% 7/1/33 3,000 3,150
Clarion County PA Industrial Development        
Authority Revenue (Clarion University        
Foundation Inc. Student Housing Project) 5.000% 7/1/37 (10) 6,360 6,373
Clarion County PA Industrial Development        
Authority Revenue (Clarion University        
Foundation Inc. Student Housing Project) 5.000% 7/1/45 2,000 2,064
Commonwealth Financing Authority        
Pennsylvania Revenue 5.000% 6/1/28 1,365 1,523
Commonwealth Financing Authority        
Pennsylvania Revenue 5.000% 6/1/31 5,000 5,519
Commonwealth Financing Authority        
Pennsylvania Revenue 5.000% 6/1/33 7,760 8,506
Cumberland County PA Municipal Authority        
Revenue (Diakon Lutheran Social Ministries        
Project) 6.375% 1/1/19 (Prere.) 1,800 1,975
Cumberland County PA Municipal Authority        
Revenue (Diakon Lutheran Social Ministries        
Project) 6.375% 1/1/39 200 217
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 5/1/30 1,000 1,150
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 5/1/31 750 858
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 5/1/32 800 910
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 11/1/32 2,225 2,475
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 5/1/34 1,420 1,599
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 11/1/37 2,000 2,200
Cumberland County PA Municipal Authority        
Revenue (Dickinson College Project) 5.000% 11/1/42 3,605 3,957
Dallas PA Area Muni Authority University        
Revenue (Misericordia University Project) 5.000% 5/1/37 2,500 2,582
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 6.000% 6/1/19 (Prere.) 125 139

 

 

Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 6.000% 6/1/19 (Prere.) 12,845 14,252
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 6.000% 6/1/29 135 148
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 4.000% 6/1/30 3,745 3,904
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 4.000% 6/1/31 2,190 2,271
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 4.000% 6/1/32 2,000 2,059
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 5.000% 6/1/34 1,275 1,426
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 5.000% 6/1/35 1,000 1,110
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 5.000% 6/1/36 500 553
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 6.000% 6/1/36 2,320 2,537
Dauphin County PA General Authority Health        
System Revenue (Pinnacle Health System        
Project) 5.000% 6/1/42 21,040 22,668
Delaware County PA Authority Revenue        
(Haverford College) 5.000% 10/1/35 765 875
Delaware County PA Authority Revenue        
(Haverford College) 5.000% 10/1/42 3,750 4,245
Delaware County PA Authority Revenue        
(Haverford College) 5.000% 10/1/46 2,350 2,652
Delaware County PA Authority University        
Revenue (Villanova University) 5.000% 8/1/40 2,500 2,775
Delaware County PA Authority University        
Revenue (Villanova University) 5.000% 8/1/45 1,500 1,661
Delaware County PA Industrial Development        
Authority Airport Facilities Revenue (United        
Parcel Service Inc.) VRDO 0.570% 3/1/17 6,800 6,800
Delaware County PA Regional Water Quality        
Control Authority Revenue 5.000% 5/1/27 3,240 3,689
Delaware County PA Regional Water Quality        
Control Authority Revenue 5.000% 5/1/40 1,500 1,667
Delaware County PA Vocational-Technical        
School Authority Lease Revenue (Delaware        
County Intermediate Unit No. 25 Project) 5.000% 11/1/38 (15) 1,250 1,368
Delaware River Joint Toll Bridge Commission        
Pennsylvania & New Jersey Revenue 5.000% 7/1/25 1,100 1,255
Delaware River Joint Toll Bridge Commission        
Pennsylvania & New Jersey Revenue 5.000% 7/1/30 500 571
Delaware River Joint Toll Bridge Commission        
Pennsylvania & New Jersey Revenue 4.000% 7/1/33 (15) 4,000 4,176

 

 

3 Delaware River PA Joint Toll Bridge        
Commission Revenue 5.000% 7/1/32 3,050 3,524
3 Delaware River PA Joint Toll Bridge        
Commission Revenue 5.000% 7/1/34 3,250 3,715
3 Delaware River PA Joint Toll Bridge        
Commission Revenue 5.000% 7/1/36 3,500 3,971
3 Delaware River PA Joint Toll Bridge        
Commission Revenue 5.000% 7/1/42 18,930 21,321
3 Delaware River PA Joint Toll Bridge        
Commission Revenue 5.000% 7/1/47 16,500 18,503
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/23 2,425 2,671
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/24 3,220 3,563
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/25 2,715 2,983
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/26 3,000 3,298
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/27 1,000 1,093
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/31 3,500 3,918
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/34 3,500 3,871
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/35 10,000 10,874
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/37 12,000 13,178
Delaware River Port Authority Pennsylvania &        
New Jersey Revenue 5.000% 1/1/40 10,000 10,969
Delaware Valley PA Regional Finance Authority        
Revenue 7.750% 7/1/27 (2) 130 179
Delaware Valley PA Regional Finance Authority        
Revenue 5.500% 8/1/28 (2) 7,685 9,142
Delaware Valley PA Regional Finance Authority        
Revenue 5.750% 7/1/32 5,410 6,592
Doylestown PA Hospital Authority Revenue 5.000% 7/1/25 3,730 4,061
Doylestown PA Hospital Authority Revenue 5.000% 7/1/26 4,445 4,792
Doylestown PA Hospital Authority Revenue 5.000% 7/1/27 1,170 1,256
Doylestown PA Hospital Authority Revenue 5.000% 7/1/28 1,000 1,073
Doylestown PA Hospital Authority Revenue 5.000% 7/1/29 865 925
Doylestown PA Hospital Authority Revenue 5.000% 7/1/46 8,000 8,402
East Hempfield Township PA Industrial        
Development Authority Revenue (Millersville        
University Student Housing Project) 5.000% 7/1/30 825 879
East Hempfield Township PA Industrial        
Development Authority Revenue (Millersville        
University Student Housing Project) 5.000% 7/1/30 1,280 1,352
East Hempfield Township PA Industrial        
Development Authority Revenue (Millersville        
University Student Housing Project) 5.000% 7/1/34 1,000 1,047
East Hempfield Township PA Industrial        
Development Authority Revenue (Millersville        
University Student Housing Project) 5.000% 7/1/35 1,250 1,302
East Hempfield Township PA Industrial        
Development Authority Revenue (Millersville        
University Student Housing Project) 5.000% 7/1/45 4,250 4,385

 

 

East Hempfield Township PA Industrial        
Development Authority Revenue (Millersville        
University Student Housing Project) 5.000% 7/1/47 3,750 3,874
East Norriton-Plymouth-Whitpain PA Joint        
Sewer Authority Revenue 5.000% 8/1/38 2,500 2,698
East Norriton-Plymouth-Whitpain PA Joint        
Sewer Authority Revenue 5.000% 8/1/41 2,100 2,264
Easton PA Area Joint Sewer Authority Revenue 5.000% 12/1/27 (15) 250 285
Easton PA Area Joint Sewer Authority Revenue 5.000% 12/1/28 (15) 250 283
Erie City PA Water Authority Revenue 5.000% 12/1/49 (4) 5,000 5,534
Erie PA Higher Education Building Authority        
Revenue (Gannon University) 5.000% 5/1/32 1,325 1,430
Erie PA Higher Education Building Authority        
Revenue (Gannon University) 5.000% 5/1/33 1,395 1,499
Fox Chapel PA Area School District GO 5.000% 8/1/31 3,000 3,388
Franklin County PA Industrial Development        
Authority Revenue (Chambersburg Hospital        
Project) 5.375% 7/1/42 17,075 18,507
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) 5.125% 6/1/34 5,000 5,294
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) 5.250% 6/1/39 20,735 22,026
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) 5.000% 6/1/41 5,000 5,484
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) VRDO 0.550% 3/1/17 100 100
Geisinger Authority Health System Pennsylvania        
Revenue (Geisinger Health System) VRDO 0.570% 3/1/17 12,300 12,300
Hampden Township PA GO 5.000% 11/15/20 (Prere.) 180 204
Hampden Township PA GO 5.000% 5/15/31 880 978
Haverford Township PA School District GO        
VRDO 0.640% 3/7/17 LOC 1,000 1,000
Hazleton PA Area School District GO 0.000% 3/1/17 (14) 4,425 4,425
Hempfield PA School District GO 5.000% 10/15/29 4,045 4,449
Hempfield PA School District GO 5.000% 10/15/30 2,920 3,200
Huntingdon County PA General Authority        
Revenue 5.000% 5/1/46 7,465 7,968
Jim Thorpe PA Area School District GO 5.000% 3/15/27 (15) 300 344
Lackawanna County PA GO 5.000% 9/15/17 (Prere.) 1,975 2,021
Lackawanna County PA GO 5.000% 9/15/29 (4) 3,745 3,820
Lake Lehman PA School District GO 0.000% 4/1/17 (14) 1,315 1,314
Lake Lehman PA School District GO 0.000% 4/1/18 (14) 1,000 986
Lancaster County PA GO 5.000% 11/1/32 (4) 5,000 5,374
Lancaster County PA Hospital Authority        
Revenue (University of Pennsylvania Health        
System) 5.000% 8/15/42 7,825 8,664
Lancaster County PA Solid Waste Management        
Authority Solid Waste Disposal System        
Revenue 5.250% 12/15/30 3,000 3,389
Lancaster County PA Solid Waste Management        
Authority Solid Waste Disposal System        
Revenue 5.250% 12/15/31 4,235 4,759
Lancaster County PA Solid Waste Management        
Authority Solid Waste Disposal System        
Revenue 5.250% 12/15/32 2,600 2,908

 

 

Lancaster County PA Solid Waste Management        
Authority Solid Waste Disposal System        
Revenue 5.000% 12/15/33 7,000 7,814
Lancaster PA Industrial Development Authority        
Revenue (Garden Spot Village Project) 5.000% 5/1/21 500 539
Lancaster PA Industrial Development Authority        
Revenue (Garden Spot Village Project) 5.375% 5/1/28 1,250 1,354
Lancaster PA Industrial Development Authority        
Revenue (Garden Spot Village Project) 5.750% 5/1/35 2,200 2,381
Lehigh County PA Authority Water & Sewer        
Revenue 0.000% 12/1/24 1,695 1,329
Lehigh County PA Authority Water & Sewer        
Revenue 5.000% 12/1/43 14,305 15,667
Lehigh County PA Authority Water & Sewer        
Revenue 5.125% 12/1/47 3,000 3,300
Lehigh County PA General Purpose Authority        
Revenue (Good Shepherd Obligated Group) 4.000% 11/1/46 3,485 3,455
Lehigh County PA General Purpose Hospital        
Authority Revenue (Lehigh Valley Health        
Network) 5.000% 7/1/27 550 639
Lehigh County PA General Purpose Hospital        
Authority Revenue (Lehigh Valley Health        
Network) 4.000% 7/1/33 5,000 5,065
Lehigh County PA General Purpose Hospital        
Authority Revenue (Lehigh Valley Health        
Network) 4.000% 7/1/35 18,000 17,999
Lower Merion PA School District GO 5.000% 9/1/17 (Prere.) 5,885 6,014
Luzerne County PA GO 5.250% 12/15/21 (14) 5,320 5,818
Luzerne County PA GO 5.000% 11/15/29 (4) 2,500 2,750
Luzerne County PA Industrial Development        
Authority Water Facility Revenue        
(Pennsylvania-American Water Co.) 5.500% 12/1/39 10,000 10,901
Lycoming County PA Authority College Revenue        
(Pennsylvania College of Technology) 5.000% 5/1/26 2,000 2,215
Lycoming County PA Authority College Revenue        
(Pennsylvania College of Technology) 5.000% 7/1/30 5,565 6,090
Lycoming County PA Authority Health System        
Revenue (Susquehanna Health System        
Project) 5.375% 7/1/23 565 609
Lycoming County PA Authority Health System        
Revenue (Susquehanna Health System        
Project) 5.500% 7/1/28 35 38
Lycoming County PA Authority Revenue        
(Lycoming College) 5.500% 11/1/33 2,935 3,308
McKeesport PA Area School District GO 0.000% 10/1/18 (2) 2,650 2,572
Middletown PA School District GO 5.000% 3/1/29 1,660 1,843
Middletown PA School District GO 5.000% 3/1/30 2,865 3,174
Monroe County PA Hospital Authority Revenue        
(Pocono Medical Center) 5.000% 1/1/32 1,400 1,486
Monroe County PA Hospital Authority Revenue        
(Pocono Medical Center) 5.000% 7/1/41 3,660 3,913
Monroeville PA Finance Authority Revenue        
(UPMC Health System) 5.000% 2/15/29 1,500 1,668
Monroeville PA Finance Authority Revenue        
(UPMC Health System) 5.000% 2/15/30 4,900 5,426
Monroeville PA Finance Authority Revenue        
(UPMC Health System) 5.000% 2/15/42 10,865 11,770

 

 

Montgomery County PA GO 4.000% 4/1/29 3,080 3,301
Montgomery County PA Higher Education &        
Health Authority Hospital Revenue (Abington        
Memorial Hospital) 5.000% 6/1/19 (Prere.) 5,000 5,436
Montgomery County PA Higher Education &        
Health Authority Hospital Revenue (Abington        
Memorial Hospital) 5.125% 6/1/19 (Prere.) 13,545 14,765
Montgomery County PA Higher Education &        
Health Authority Hospital Revenue (Abington        
Memorial Hospital) 5.000% 6/1/31 14,705 16,080
Montgomery County PA Higher Education &        
Health Authority Revenue (Arcadia University) 5.000% 4/1/29 2,580 2,798
Montgomery County PA Higher Education &        
Health Authority Revenue (Arcadia University) 5.000% 4/1/30 1,000 1,079
Montgomery County PA Higher Education &        
Health Authority Revenue (Arcadia University) 5.750% 4/1/40 3,000 3,251
Montgomery County PA Higher Education &        
Health Authority Revenue (Holy Redeemer        
Health System) 5.000% 10/1/24 1,165 1,336
Montgomery County PA Higher Education &        
Health Authority Revenue (Holy Redeemer        
Health System) 5.000% 10/1/25 1,200 1,356
Montgomery County PA Higher Education &        
Health Authority Revenue (Holy Redeemer        
Health System) 5.000% 10/1/26 1,000 1,115
Montgomery County PA Higher Education &        
Health Authority Revenue (Holy Redeemer        
Health System) 5.000% 10/1/27 1,000 1,102
Montgomery County PA Higher Education &        
Health Authority Revenue (Holy Redeemer        
Health System) 5.000% 10/1/40 12,000 12,635
Montgomery County PA Higher Education &        
Health Authority Revenue (Ursinus College) 5.250% 11/1/42 4,000 4,282
Montgomery County PA Industrial Development        
Authority Health Services Revenue (Albert        
Einstein Healthcare Network) 5.250% 1/15/28 3,795 4,163
Montgomery County PA Industrial Development        
Authority Health Services Revenue (Albert        
Einstein Healthcare Network) 5.250% 1/15/30 5,000 5,397
Montgomery County PA Industrial Development        
Authority Health Services Revenue (Albert        
Einstein Healthcare Network) 5.250% 1/15/36 11,250 11,927
Montgomery County PA Industrial Development        
Authority Health Services Revenue (Albert        
Einstein Healthcare Network) 5.250% 1/15/45 18,500 19,512
Montgomery County PA Industrial Development        
Authority Health Services Revenue (Albert        
Einstein Healthcare Network) 5.250% 1/15/46 3,300 3,480
Montgomery County PA Industrial Development        
Authority Health Services Revenue (Jefferson        
Health System) 5.000% 10/1/41 4,110 4,419
Montgomery County PA Industrial Development        
Authority Revenue (Foulkeways at Gwynedd) 5.000% 12/1/30 775 838
Montgomery County PA Industrial Development        
Authority Revenue (Foulkeways at Gwynedd) 5.000% 12/1/46 3,730 3,898

 

 

Montgomery County PA Industrial Development        
Authority Revenue (New Regional Medical        
Center Project) 5.375% 8/1/20 (Prere.) 10,000 11,381
Montgomery County PA Industrial Development        
Authority Revenue (Philadelphia Presbyterian        
Homes Inc. Project) 6.625% 12/1/30 1,565 1,751
Montgomery County PA Industrial Development        
Authority Revenue (Whitemarsh Continuing        
Care Retirement Community Inc.) 5.000% 1/1/30 1,850 1,775
Montgomery County PA Industrial Development        
Authority Revenue (Whitemarsh Continuing        
Care Retirement Community Inc.) 5.250% 1/1/40 4,750 4,461
Montour PA School District GO 5.000% 4/1/40 (4) 3,170 3,498
Moon Industrial Development Authority        
Pennsylvania Revenue (Baptist Home Society        
Obligated Group) 5.625% 7/1/30 1,000 1,024
Moon Industrial Development Authority        
Pennsylvania Revenue (Baptist Home Society        
Obligated Group) 6.000% 7/1/45 3,500 3,571
Mount Lebanon PA Hospital Authority Revenue        
(St. Clair Memorial Hospital Project) 5.000% 7/1/31 6,270 6,718
Northampton County PA General Purpose        
Authority College Revenue (Moravian        
College) 5.000% 10/1/40 1,125 1,205
Northampton County PA General Purpose        
Authority Hospital Revenue (St. Luke's        
Hospital Project) 5.500% 8/15/18 (Prere.) 45 48
Northampton County PA General Purpose        
Authority Hospital Revenue (St. Luke's        
Hospital Project) 5.500% 8/15/18 (Prere.) 5,100 5,438
Northampton County PA General Purpose        
Authority Hospital Revenue (St. Luke's        
Hospital Project) 5.000% 8/15/28 3,975 4,546
Northampton County PA General Purpose        
Authority Hospital Revenue (St. Luke's        
Hospital Project) 5.000% 8/15/29 2,000 2,263
Northampton County PA General Purpose        
Authority Hospital Revenue (St. Luke's        
Hospital Project) 5.000% 8/15/33 10,000 10,789
Northampton County PA General Purpose        
Authority University Revenue (Lafayette        
College) 5.000% 11/1/32 4,000 4,564
Northampton County PA General Purpose        
Authority University Revenue (Lafayette        
College) VRDO 0.650% 3/7/17 1,000 1,000
Northampton County PA General Purpose        
Authority University Revenue (Lehigh        
University) 4.000% 11/15/34 7,535 7,811
Northampton County PA General Purpose        
Authority University Revenue (Lehigh        
University) 4.000% 11/15/35 4,090 4,223
Northampton County PA Industrial Development        
Authority Revenue (Morningstar Senior Living,        
Inc. Project) 5.000% 7/1/32 1,775 1,798
Northampton County PA Industrial Development        
Authority Revenue (Morningstar Senior Living,        
Inc. Project) 5.000% 7/1/36 1,000 1,012

 

 

Northeastern Pennsylvania Hospital & Education        
Authority Revenue (Wilkes University Project) 5.000% 3/1/25 1,125 1,246
Northeastern Pennsylvania Hospital & Education        
Authority Revenue (Wilkes University Project) 5.000% 3/1/29 1,250 1,363
Northeastern Pennsylvania Hospital &        
Educational Authority Revenue (Wilkes        
University Project) 5.250% 3/1/31 1,140 1,253
Northeastern Pennsylvania Hospital &        
Educational Authority Revenue (Wilkes        
University Project) 5.000% 3/1/37 3,640 3,834
Northeastern Pennsylvania Hospital &        
Educational Authority Revenue (Wilkes        
University Project) 5.250% 3/1/37 3,000 3,221
Owen J. Roberts Pennsylvania School District        
GO 5.000% 5/15/27 500 578
Owen J. Roberts Pennsylvania School District        
GO 5.000% 5/15/28 500 575
Owen J. Roberts Pennsylvania School District        
GO 4.000% 5/15/29 1,200 1,270
Owen J. Roberts Pennsylvania School District        
GO 4.000% 5/15/30 1,900 1,999
Palmer Township PA GO 4.000% 5/15/29 1,435 1,522
Palmer Township PA GO 4.000% 5/15/30 1,495 1,575
Pennsylvania Economic Development Financing        
Authority Health System Revenue (Albert        
Einstein Healthcare Network) 6.250% 10/15/19 (Prere.) 8,085 8,950
Pennsylvania Economic Development Financing        
Authority Parking System Revenue (Capitol        
Region Parking System) 0.000% 1/1/29 (4) 2,000 1,266
Pennsylvania Economic Development Financing        
Authority Parking System Revenue (Capitol        
Region Parking System) 0.000% 1/1/30 (4) 3,710 2,217
Pennsylvania Economic Development Financing        
Authority Parking System Revenue (Capitol        
Region Parking System) 5.500% 1/1/31 (4) 3,000 3,459
Pennsylvania Economic Development Financing        
Authority Parking System Revenue (Capitol        
Region Parking System) 0.000% 1/1/36 (4) 6,045 2,614
Pennsylvania Economic Development Financing        
Authority Parking System Revenue (Capitol        
Region Parking System) 0.000% 1/1/38 (4) 5,525 2,185
Pennsylvania Economic Development Financing        
Authority Parking System Revenue (Capitol        
Region Parking System) 5.250% 1/1/44 (4) 6,500 7,162
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 5.000% 2/1/28 3,000 3,428
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 5.000% 2/1/31 5,000 5,608
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 5.000% 2/1/32 10,000 11,153
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 4.000% 3/15/32 2,500 2,556
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 5.000% 7/1/33 11,405 12,561
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 4.000% 3/15/35 4,000 4,028

 

 

Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 4.000% 3/15/40 6,000 6,000
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 4.000% 3/15/41 8,500 8,500
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 5.000% 7/1/43 4,500 4,881
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 5.000% 2/1/45 5,000 5,466
Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group) 4.000% 3/15/45 4,000 3,980
1 Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group)        
TOB VRDO 0.720% 3/7/17 3,610 3,610
1 Pennsylvania Economic Development Financing        
Authority Revenue (UPMC Obligated Group)        
TOB VRDO 0.740% 3/7/17 1,670 1,670
Pennsylvania Economic Development Financing        
Authority Water Facilities Revenue (American        
Water Co. Project) 6.200% 4/1/39 5,000 5,454
Pennsylvania Economic Development Financing        
Authority Water Facilities Revenue (Aqua        
Pennsylvania Inc. Project) 5.000% 10/1/39 5,500 5,937
Pennsylvania Economic Development Financing        
Authority Water Facilities Revenue (Aqua        
Pennsylvania Inc. Project) 4.750% 11/15/40 2,500 2,683
Pennsylvania Economic Development Financing        
Authority Water Facilities Revenue (Aqua        
Pennsylvania Inc. Project) 5.000% 11/15/40 4,075 4,409
Pennsylvania Economic Development Financing        
Authority Water Facilities Revenue (Aqua        
Pennsylvania Inc. Project) 5.000% 12/1/43 10,000 11,028
Pennsylvania GO 5.000% 8/1/17 10,000 10,185
Pennsylvania GO 5.000% 7/1/20 7,300 8,127
Pennsylvania GO 5.000% 11/15/20 8,740 9,750
Pennsylvania GO 5.375% 7/1/21 16,000 18,422
Pennsylvania GO 5.000% 7/1/22 10,000 11,466
Pennsylvania GO 4.000% 7/1/23 4,000 4,382
Pennsylvania GO 5.000% 1/15/24 5,000 5,770
Pennsylvania GO 5.000% 8/15/24 5,000 5,806
Pennsylvania GO 5.000% 11/15/24 10,000 11,357
Pennsylvania GO 5.000% 1/15/25 10,000 11,597
Pennsylvania GO 5.000% 6/1/25 10,000 11,352
Pennsylvania GO 5.000% 11/15/25 10,000 11,338
Pennsylvania GO 5.000% 2/1/26 16,355 19,058
Pennsylvania GO 5.000% 6/1/26 10,000 11,309
Pennsylvania GO 5.000% 11/15/26 6,705 7,589
Pennsylvania GO 5.000% 6/1/27 10,000 11,253
Pennsylvania GO 5.000% 9/15/27 20,000 23,336
Pennsylvania GO 5.000% 9/15/27 15,000 17,502
Pennsylvania GO 5.000% 1/15/28 2,500 2,931
Pennsylvania GO 5.000% 3/15/28 18,550 21,111
Pennsylvania GO 5.000% 4/1/28 10,000 11,263
Pennsylvania GO 5.000% 6/1/28 5,000 5,598
Pennsylvania GO 4.000% 8/15/28 (4) 10,010 10,701
Pennsylvania GO 5.000% 9/15/28 10,350 12,018
Pennsylvania GO 4.000% 10/15/28 10,000 10,654
Pennsylvania GO 4.000% 4/1/29 10,000 10,561

 

 

Pennsylvania GO 4.000% 8/15/29 (4) 6,290 6,691
Pennsylvania GO 5.000% 11/15/29 5,000 5,628
Pennsylvania GO 4.000% 4/1/30 10,000 10,490
Pennsylvania GO 4.000% 6/15/30 10,000 10,398
Pennsylvania GO 4.000% 8/15/30 (4) 7,640 8,073
Pennsylvania GO 5.000% 10/15/30 6,650 7,491
Pennsylvania GO 4.000% 2/1/31 17,875 18,596
Pennsylvania GO 5.000% 10/15/31 14,955 16,789
Pennsylvania GO 4.000% 2/1/32 18,870 19,543
Pennsylvania GO 5.000% 6/1/32 8,115 8,924
Pennsylvania GO 5.000% 8/1/32 4,000 4,434
Pennsylvania GO 5.000% 8/15/32 8,000 8,972
Pennsylvania GO 5.000% 10/15/32 15,000 16,762
Pennsylvania GO 4.000% 2/1/33 5,585 5,758
Pennsylvania GO 5.000% 8/1/33 4,000 4,416
Pennsylvania GO 4.000% 9/15/34 12,500 12,819
Pennsylvania Higher Educational Facilities        
Authority Revenue 4.000% 6/15/32 3,330 3,434
Pennsylvania Higher Educational Facilities        
Authority Revenue 4.000% 6/15/33 2,310 2,369
Pennsylvania Higher Educational Facilities        
Authority Revenue (AICUP Financing        
Program - Delaware Valley College Project) 5.000% 11/1/20 595 618
Pennsylvania Higher Educational Facilities        
Authority Revenue (AICUP Financing        
Program - Delaware Valley College Project) 5.000% 11/1/21 1,245 1,292
Pennsylvania Higher Educational Facilities        
Authority Revenue (AICUP Financing        
Program - Delaware Valley College Project) 5.000% 11/1/27 1,250 1,257
Pennsylvania Higher Educational Facilities        
Authority Revenue (AICUP Financing        
Program - Delaware Valley College Project) 5.000% 11/1/42 535 512
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 11/1/17 (Prere.) 9,600 9,873
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/28 1,450 1,636
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/29 1,260 1,416
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/30 1,205 1,351
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/31 1,085 1,212
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/32 1,750 1,981
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/32 1,000 1,112
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/33 3,320 3,741
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/34 3,000 3,360
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) 5.000% 5/1/35 2,600 2,904
Pennsylvania Higher Educational Facilities        
Authority Revenue (Drexel University) VRDO 0.570% 3/1/17 LOC 1,500 1,500
Pennsylvania Higher Educational Facilities        
Authority Revenue (Foundation for Indiana        
University of Pennsylvania Student Housing) 5.125% 7/1/39 (10) 10,000 10,010

 

 

Pennsylvania Higher Educational Facilities        
Authority Revenue (Foundation for Indiana        
University of Pennsylvania Student Housing) 5.000% 7/1/41 500 537
Pennsylvania Higher Educational Facilities        
Authority Revenue (Higher Education System) 5.000% 6/15/29 4,000 4,455
Pennsylvania Higher Educational Facilities        
Authority Revenue (Higher Education System) 5.000% 6/15/30 1,595 1,719
Pennsylvania Higher Educational Facilities        
Authority Revenue (Higher Education System) 5.000% 6/15/30 3,615 4,014
Pennsylvania Higher Educational Facilities        
Authority Revenue (Higher Education System) 5.000% 6/15/31 1,670 1,798
Pennsylvania Higher Educational Facilities        
Authority Revenue (Higher Education System) 5.000% 6/15/34 5,535 5,935
Pennsylvania Higher Educational Facilities        
Authority Revenue (La Salle University) 5.250% 5/1/27 3,000 3,045
Pennsylvania Higher Educational Facilities        
Authority Revenue (La Salle University) 5.000% 5/1/37 5,800 6,089
Pennsylvania Higher Educational Facilities        
Authority Revenue (Lock Haven University        
Foundation Student Housing Project) 4.000% 7/1/28 3,500 3,376
Pennsylvania Higher Educational Facilities        
Authority Revenue (Philadelphia University) 5.000% 6/1/24 1,055 1,173
Pennsylvania Higher Educational Facilities        
Authority Revenue (Philadelphia University) 5.000% 6/1/27 1,175 1,284
Pennsylvania Higher Educational Facilities        
Authority Revenue (Philadelphia University) 5.000% 6/1/28 1,250 1,357
Pennsylvania Higher Educational Facilities        
Authority Revenue (Philadelphia University) 5.000% 6/1/32 2,000 2,135
Pennsylvania Higher Educational Facilities        
Authority Revenue (Shippensburg University) 5.000% 10/1/30 2,000 2,107
Pennsylvania Higher Educational Facilities        
Authority Revenue (Shippensburg University) 5.000% 10/1/35 1,400 1,457
Pennsylvania Higher Educational Facilities        
Authority Revenue (Shippensburg University) 5.000% 10/1/44 4,940 5,103
Pennsylvania Higher Educational Facilities        
Authority Revenue (Slippery Rock University        
Foundation) 5.000% 7/1/17 (Prere.) 5,000 5,074
Pennsylvania Higher Educational Facilities        
Authority Revenue (St. Joseph's University) 5.000% 11/1/33 1,265 1,379
Pennsylvania Higher Educational Facilities        
Authority Revenue (St. Joseph's University) 5.000% 11/1/34 4,000 4,381
Pennsylvania Higher Educational Facilities        
Authority Revenue (St. Joseph's University) 5.000% 11/1/40 9,920 10,864
Pennsylvania Higher Educational Facilities        
Authority Revenue (Temple University) 5.000% 4/1/35 7,755 8,536
Pennsylvania Higher Educational Facilities        
Authority Revenue (Temple University) 5.000% 4/1/42 11,120 12,190
Pennsylvania Higher Educational Facilities        
Authority Revenue (Thomas Jefferson        
University) 5.000% 3/1/20 (Prere.) 1,000 1,112
Pennsylvania Higher Educational Facilities        
Authority Revenue (Thomas Jefferson        
University) 5.000% 9/1/32 3,965 4,448
Pennsylvania Higher Educational Facilities        
Authority Revenue (Thomas Jefferson        
University) 5.000% 9/1/39 7,000 7,712

 

 

Pennsylvania Higher Educational Facilities        
Authority Revenue (Thomas Jefferson        
University) 5.000% 9/1/39 (2) 9,000 9,003
Pennsylvania Higher Educational Facilities        
Authority Revenue (Thomas Jefferson        
University) 5.000% 9/1/45 17,800 19,546
Pennsylvania Higher Educational Facilities        
Authority Revenue (Thomas Jefferson        
University) 5.250% 9/1/50 10,000 11,008
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 4.000% 8/15/28 4,000 4,401
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 5.000% 10/1/28 4,015 4,747
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 4.000% 8/15/31 4,000 4,280
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 4.000% 8/15/34 2,200 2,301
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 4.000% 8/15/35 2,275 2,385
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 4.000% 8/15/36 1,400 1,463
Pennsylvania Higher Educational Facilities        
Authority Revenue (Trustees of the University        
of Pennsylvania) 5.000% 8/15/46 5,000 5,721
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.750% 8/15/21 (Prere.) 4,000 4,749
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/27 1,000 1,167
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/29 500 572
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/30 3,055 3,370
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/31 750 848
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/31 3,860 4,248
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/32 2,000 2,192
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/33 1,180 1,320
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/34 2,695 2,999

 

 

Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/35 2,420 2,684
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/40 11,000 12,081
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 4.000% 8/15/41 6,000 6,066
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of Pennsylvania        
Health System) 5.000% 8/15/42 16,260 17,615
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of the        
Sciences) 5.000% 11/1/36 7,265 7,960
Pennsylvania Higher Educational Facilities        
Authority Revenue (University of the        
Sciences) 5.000% 11/1/42 4,700 5,159
Pennsylvania Higher Educational Facilities        
Authority Student Housing Revenue        
(University PropertiesInc.) 6.000% 7/1/21 2,125 2,345
Pennsylvania Higher Educational Facilities        
Authority Student Housing Revenue        
(University PropertiesInc.) 5.000% 7/1/31 4,000 4,186
Pennsylvania Higher Educational Facilities        
Authority Student Housing Revenue        
(University PropertiesInc.) 5.000% 7/1/42 2,500 2,577
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 4.125% 10/1/25 1,205 1,260
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 4.500% 10/1/30 1,500 1,503
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 3.200% 10/1/31 2,500 2,463
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 3.100% 10/1/36 5,000 4,739
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 3.500% 10/1/36 4,500 4,345
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 3.900% 10/1/36 8,500 8,526
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 4.050% 10/1/40 1,525 1,531
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 4.050% 10/1/40 2,000 2,019
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 3.200% 10/1/41 4,000 3,607
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 4.100% 10/1/45 3,845 3,884
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 4.150% 10/1/45 1,370 1,379
Pennsylvania Housing Finance Agency Single        
Family Mortgage Revenue 3.500% 10/1/46 2,915 3,058
Pennsylvania Public School Building Authority        
Lease Revenue (School District of        
Philadelphia) 5.000% 6/1/24 2,000 2,211
Pennsylvania Public School Building Authority        
Lease Revenue (School District of        
Philadelphia) 5.000% 6/1/25 1,610 1,774

 

 

Pennsylvania Public School Building Authority        
Revenue (Harrisburg School District) 5.000% 12/1/32 2,750 3,100
Pennsylvania Public School Building Authority        
Revenue (Harrisburg School District) 5.000% 12/1/33 2,000 2,243
Pennsylvania State University Revenue 5.000% 9/1/27 2,205 2,616
Pennsylvania State University Revenue 5.000% 9/1/27 4,810 5,706
Pennsylvania State University Revenue 5.000% 9/1/29 1,170 1,368
Pennsylvania State University Revenue 5.000% 9/1/29 4,565 5,339
Pennsylvania State University Revenue 5.000% 9/1/30 1,100 1,282
Pennsylvania State University Revenue 5.000% 9/1/30 6,900 8,042
Pennsylvania State University Revenue 5.000% 9/1/33 5,000 5,822
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.000% 12/1/27 2,540 2,875
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.000% 12/1/29 2,925 3,282
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.000% 12/1/35 4,390 4,896
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.000% 12/1/37 4,000 4,404
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.000% 12/1/41 2,720 2,947
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.500% 12/1/41 7,000 7,749
Pennsylvania Turnpike Commission Motor        
License Fund Revenue 5.000% 12/1/43 5,430 5,961
Pennsylvania Turnpike Commission Oil        
Franchise Tax Revenue 5.000% 12/1/28 4,015 4,607
Pennsylvania Turnpike Commission Oil        
Franchise Tax Revenue 5.000% 12/1/29 3,040 3,464
Pennsylvania Turnpike Commission Oil        
Franchise Tax Revenue 5.000% 12/1/30 5,970 6,774
Pennsylvania Turnpike Commission Oil        
Franchise Tax Revenue 0.000% 12/1/37 2,000 948
2 Pennsylvania Turnpike Commission Revenue 6.250% 6/1/18 (Prere.) 21,595 23,057
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/19 (Prere.) 1,355 1,474
Pennsylvania Turnpike Commission Revenue 5.250% 6/1/19 (Prere.) 13,025 14,243
Pennsylvania Turnpike Commission Revenue 5.750% 6/1/19 (Prere.) 13,000 14,361
Pennsylvania Turnpike Commission Revenue 6.000% 12/1/20 (Prere.) 2,500 2,931
Pennsylvania Turnpike Commission Revenue 6.500% 12/1/20 (Prere.) 3,000 3,572
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/25 10,000 10,957
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/28 2,305 2,626
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/28 7,000 7,975
Pennsylvania Turnpike Commission Revenue 5.250% 7/15/28 (4) 6,875 8,238
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/29 (4) 3,565 4,094
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/29 8,375 9,410
Pennsylvania Turnpike Commission Revenue 5.500% 12/1/29 2,525 2,965
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/30 3,400 3,757
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/30 4,600 5,127
Pennsylvania Turnpike Commission Revenue 5.500% 12/1/30 2,500 2,928
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/31 9,525 10,660
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/32 7,090 7,835
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/32 10,000 11,133
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/33 5,410 5,975
Pennsylvania Turnpike Commission Revenue 0.000% 12/1/33 1,250 1,306
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/33 2,000 2,214
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/33 9,800 10,861
Pennsylvania Turnpike Commission Revenue 5.250% 12/1/33 2,560 2,889

 

 

Pennsylvania Turnpike Commission Revenue 4.000% 12/1/34 10,000 9,937
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/34 2,000 2,205
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/34 10,000 11,032
Pennsylvania Turnpike Commission Revenue 5.250% 12/1/34 4,410 4,935
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/36 10,000 10,928
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/37 9,650 10,408
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/37 7,615 8,278
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/38 8,145 8,842
Pennsylvania Turnpike Commission Revenue 0.000% 12/1/38 2,500 2,565
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/38 7,500 8,093
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/39 (12) 8,645 9,226
Pennsylvania Turnpike Commission Revenue 5.000% 6/1/39 18,500 20,068
Pennsylvania Turnpike Commission Revenue 5.250% 6/1/39 16,040 17,205
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/39 2,000 2,188
Pennsylvania Turnpike Commission Revenue 5.250% 12/1/39 2,000 2,226
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/40 7,200 7,898
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/40 7,500 8,166
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/40 5,400 5,880
Pennsylvania Turnpike Commission Revenue 5.125% 12/1/40 20 22
Pennsylvania Turnpike Commission Revenue 0.000% 12/1/41 9,365 6,467
Pennsylvania Turnpike Commission Revenue 5.300% 12/1/41 15,135 16,353
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/42 9,500 10,288
Pennsylvania Turnpike Commission Revenue 5.500% 12/1/42 2,950 3,371
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/43 5,300 5,858
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/44 6,000 6,547
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/44 6,900 7,529
Pennsylvania Turnpike Commission Revenue 5.250% 12/1/44 2,640 2,923
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/45 10,000 10,770
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/45 4,700 5,164
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/46 16,000 17,578
Pennsylvania Turnpike Commission Revenue 5.000% 12/1/46 4,095 4,423
Pennsylvania Turnpike Commission Revenue 5.500% 12/1/46 7,000 7,981
1 Pennsylvania Turnpike Commission Revenue        
TOB VRDO 0.890% 3/7/17 13,820 13,820
Philadelphia PA Airport Parking Authority        
Revenue 5.125% 2/15/24 (2) 1,045 1,049
Philadelphia PA Airport Parking Authority        
Revenue 5.250% 9/1/24 4,025 4,438
Philadelphia PA Airport Parking Authority        
Revenue 5.125% 9/1/29 5,975 6,464
Philadelphia PA Airport Revenue 5.000% 6/15/23 3,000 3,310
Philadelphia PA Airport Revenue 5.000% 6/15/24 5,000 5,515
Philadelphia PA Airport Revenue 5.000% 6/15/25 8,505 9,375
Philadelphia PA Airport Revenue 5.250% 6/15/30 6,890 7,599
Philadelphia PA Authority for Industrial        
Development Revenue (Cultural &        
Commercial Corridors) 5.000% 12/1/27 960 1,091
Philadelphia PA Authority for Industrial        
Development Revenue (Cultural &        
Commercial Corridors) 5.000% 12/1/28 3,885 4,394
Philadelphia PA Authority for Industrial        
Development Revenue (Cultural &        
Commercial Corridors) 5.000% 12/1/31 1,130 1,264
Philadelphia PA Authority for Industrial        
Development Revenue (Temple University) 5.000% 4/1/28 1,500 1,733
Philadelphia PA Authority for Industrial        
Development Revenue (Temple University) 5.000% 4/1/29 3,500 4,019

 

 

Philadelphia PA Authority for Industrial        
Development Revenue (Temple University) 5.000% 4/1/33 8,075 9,104
Philadelphia PA Authority for Industrial        
Development Revenue (Temple University) 5.000% 4/1/36 4,750 5,298
Philadelphia PA Authority for Industrial        
Development Revenue (Temple University) 5.000% 4/1/40 7,430 8,265
Philadelphia PA Authority for Industrial        
Development Revenue (The Children's        
Hospital of Philadelphia Project) 4.000% 7/1/44 10,900 11,052
Philadelphia PA Authority for Industrial        
Development Revenue (Thomas Jefferson        
University) 5.000% 9/1/35 2,425 2,672
Philadelphia PA Authority for Industrial        
Development Revenue (Thomas Jefferson        
University) 5.000% 9/1/36 5,000 5,491
Philadelphia PA Authority for Industrial        
Development Revenue (Thomas Jefferson        
University) 5.000% 9/1/47 16,135 17,497
Philadelphia PA Gas Works Revenue 5.000% 8/1/17 (ETM) 25 25
Philadelphia PA Gas Works Revenue 5.000% 10/1/17 (Prere.) 60 62
Philadelphia PA Gas Works Revenue 5.000% 10/1/17 (Prere.) 1,475 1,512
Philadelphia PA Gas Works Revenue 5.000% 10/1/17 (Prere.) 3,000 3,076
Philadelphia PA Gas Works Revenue 5.000% 10/1/17 (2) 25 26
Philadelphia PA Gas Works Revenue 5.000% 7/1/18 (4) 5 5
Philadelphia PA Gas Works Revenue 3.500% 8/1/18 (4) 75 77
Philadelphia PA Gas Works Revenue 5.000% 8/1/19 (4) 10 11
Philadelphia PA Gas Works Revenue 5.000% 7/1/20 (4) 15 17
Philadelphia PA Gas Works Revenue 5.000% 8/1/20 (Prere.) 25 28
Philadelphia PA Gas Works Revenue 5.250% 8/1/20 (Prere.) 55 62
Philadelphia PA Gas Works Revenue 5.250% 8/1/20 (Prere.) 40 45
Philadelphia PA Gas Works Revenue 5.000% 7/1/22 (4) 10 11
Philadelphia PA Gas Works Revenue 5.000% 10/1/26 4,000 4,628
Philadelphia PA Gas Works Revenue 5.000% 10/1/27 4,055 4,665
Philadelphia PA Gas Works Revenue 5.000% 10/1/27 (2) 275 281
Philadelphia PA Gas Works Revenue 5.000% 10/1/28 (2) 15 15
Philadelphia PA Gas Works Revenue 5.000% 8/1/29 2,000 2,237
Philadelphia PA Gas Works Revenue 5.000% 8/1/30 2,000 2,228
Philadelphia PA Gas Works Revenue 5.000% 10/1/30 3,050 3,437
Philadelphia PA Gas Works Revenue 5.000% 8/1/31 1,750 1,941
Philadelphia PA Gas Works Revenue 5.000% 10/1/31 1,000 1,122
Philadelphia PA Gas Works Revenue 5.000% 8/1/32 2,000 2,206
Philadelphia PA Gas Works Revenue 5.000% 10/1/33 2,500 2,775
Philadelphia PA Gas Works Revenue 5.000% 10/1/34 1,435 1,586
Philadelphia PA Gas Works Revenue 4.000% 10/1/37 1,120 1,106
Philadelphia PA Gas Works Revenue 5.250% 8/1/40 90 99
Philadelphia PA Gas Works Revenue 5.250% 8/1/40 (4) 65 71
Philadelphia PA GO 6.500% 8/1/20 (Prere.) 3,785 4,450
Philadelphia PA GO 5.000% 8/1/28 4,000 4,523
Philadelphia PA GO 5.000% 8/1/30 4,000 4,479
Philadelphia PA GO 5.000% 8/1/30 (4) 4,000 4,599
Philadelphia PA GO 5.000% 8/1/32 3,000 3,365
Philadelphia PA GO 5.250% 7/15/33 3,585 4,043
Philadelphia PA GO 6.000% 8/1/36 7,430 8,453
Philadelphia PA GO 5.000% 8/1/41 3,000 3,313
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project) 5.000% 7/1/32 21,155 23,317

 

 

Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project) 4.500% 7/1/37 410 412
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project) 5.000% 7/1/41 2,500 2,731
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue        
(Children's Hospital of Philadelphia Project)        
VRDO 0.560% 3/1/17 10,700 10,700
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue (Temple        
University Health System Obligated Group) 5.500% 7/1/30 3,000 3,015
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue (Temple        
University Health System Obligated Group) 5.000% 7/1/34 640 642
Philadelphia PA Hospitals & Higher Education        
Facilities Authority Hospital Revenue (Temple        
University Health System Obligated Group) 5.625% 7/1/42 2,850 3,042
Philadelphia PA Municipal Authority Revenue 6.500% 4/1/34 3,250 3,532
Philadelphia PA Municipal Authority Revenue 6.500% 4/1/39 9,500 10,325
Philadelphia PA Redevelopment Authority        
Revenue 5.000% 4/15/27 2,000 2,264
Philadelphia PA Redevelopment Authority        
Revenue 5.000% 4/15/28 3,000 3,369
Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 20 22
Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 20 22
Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 5 5
Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 5 5
2 Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 19,645 21,131
Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 295 317
Philadelphia PA School District GO 6.000% 9/1/18 (Prere.) 10 11
Philadelphia PA School District GO 5.250% 9/1/22 7,500 8,086
Philadelphia PA School District GO 5.250% 9/1/23 7,500 8,028
Philadelphia PA School District GO 5.000% 6/1/26 (14) 5,000 5,556
Philadelphia PA School District GO 5.000% 9/1/27 (15) 5,000 5,670
Philadelphia PA School District GO 5.000% 9/1/27 2,415 2,644
Philadelphia PA School District GO 5.000% 9/1/28 5,000 5,557
Philadelphia PA School District GO 5.000% 9/1/29 5,000 5,514
Philadelphia PA School District GO 5.000% 9/1/29 2,665 2,884
Philadelphia PA School District GO 5.000% 9/1/31 2,000 2,148
Philadelphia PA School District GO 5.000% 9/1/35 2,500 2,680
Philadelphia PA School District GO 5.000% 9/1/36 2,000 2,137
Philadelphia PA School District GO 5.000% 9/1/37 2,000 2,132
Philadelphia PA School District GO 5.000% 9/1/38 2,000 2,131
Philadelphia PA Water & Waste Water Revenue 5.600% 8/1/18 (ETM) 925 983
Philadelphia PA Water & Waste Water Revenue 5.000% 10/1/28 2,000 2,401
Philadelphia PA Water & Waste Water Revenue 5.000% 7/1/30 4,000 4,552
Philadelphia PA Water & Waste Water Revenue 4.000% 10/1/31 6,210 6,502
Philadelphia PA Water & Waste Water Revenue 5.000% 7/1/32 5,000 5,635
Philadelphia PA Water & Waste Water Revenue 4.000% 10/1/32 6,440 6,690
Philadelphia PA Water & Waste Water Revenue 4.000% 7/1/34 6,000 6,163
Philadelphia PA Water & Waste Water Revenue 5.000% 8/1/35 (4) 7,000 7,647
Philadelphia PA Water & Waste Water Revenue 5.000% 1/1/36 10,500 11,528
Philadelphia PA Water & Waste Water Revenue 5.000% 7/1/40 10,000 11,079
Philadelphia PA Water & Waste Water Revenue 5.000% 8/1/40 (4) 7,000 7,647
Philadelphia PA Water & Waste Water Revenue 5.000% 1/1/41 7,210 7,930

 

 

Philadelphia PA Water & Waste Water Revenue 5.125% 1/1/43 9,000 9,924
Philadelphia PA Water & Waste Water Revenue 5.000% 7/1/43 4,375 4,841
Philadelphia PA Water & Waste Water Revenue 5.000% 7/1/45 19,600 21,662
Philadelphia PA Water & Waste Water Revenue        
VRDO 0.630% 3/7/17 LOC 3,210 3,210
Pittsburgh & Allegheny County PA Sports &        
Exhibition Authority Hotel Room Excise Tax        
Revenue 5.000% 2/1/26 (4) 3,030 3,369
Pittsburgh PA GO 5.000% 9/1/28 (15) 1,500 1,739
Pittsburgh PA GO 5.000% 9/1/31 (15) 1,120 1,281
Pittsburgh PA School District GO 5.000% 9/1/24 1,000 1,120
Pittsburgh PA Water & Sewer Authority        
Revenue 0.000% 9/1/27 (14) 10,830 7,699
Pittsburgh PA Water & Sewer Authority        
Revenue 0.000% 9/1/29 (14) 10,000 6,530
Pittsburgh PA Water & Sewer Authority        
Revenue 5.250% 9/1/36 5,000 5,651
Pittsburgh PA Water & Sewer Authority        
Revenue 5.250% 9/1/40 5,000 5,610
Plum Borough PA School District GO 5.000% 9/15/36 (15) 4,920 5,433
Pocono Mountains Industrial Park Authority        
Pennsylvania Hospital Revenue (St. Luke's        
Hospital Obligated Group) 5.000% 8/15/40 3,750 4,006
Pottsville PA Hospital Authority Revenue        
(Lehigh Valley Health Network) 5.000% 7/1/41 6,275 6,824
Pottsville PA Hospital Authority Revenue        
(Lehigh Valley Health Network) 5.000% 7/1/45 11,155 12,064
Reading PA Area Water Authority Revenue 5.000% 12/1/31 1,000 1,118
Scranton-Lackawanna PA Health & Welfare        
Authority Revenue (University of Scranton) 5.000% 11/1/17 (Prere.) 4,075 4,192
Scranton-Lackawanna PA Health & Welfare        
Authority Revenue (University of Scranton) 5.000% 11/1/37 2,500 2,722
Snyder County PA Higher Education Authority        
University Revenue (Susquehanna University        
Project) 5.000% 1/1/27 1,765 2,006
Snyder County PA Higher Education Authority        
University Revenue (Susquehanna University        
Project) 5.000% 1/1/28 1,865 2,102
Snyder County PA Higher Education Authority        
University Revenue (Susquehanna University        
Project) 5.000% 1/1/29 1,335 1,496
Snyder County PA Higher Education Authority        
University Revenue (Susquehanna University        
Project) 5.000% 1/1/30 1,180 1,314
Snyder County PA Higher Education Authority        
University Revenue (Susquehanna University        
Project) 5.000% 1/1/31 1,250 1,386
Snyder County PA Higher Education Authority        
University Revenue (Susquehanna University        
Project) 5.000% 1/1/32 1,695 1,868
South Fork PA Hospital Authority Hospital        
Revenue (Conemaugh Valley Memorial        
Hospital Project) 5.750% 7/1/18 (ETM) 2,055 2,129
Southcentral Pennsylvania General Authority        
Revenue (Hanover Hospital Inc.) 5.000% 12/1/27 1,480 1,642
Southcentral Pennsylvania General Authority        
Revenue (Hanover Hospital Inc.) 5.000% 12/1/29 1,090 1,195

 

 

Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group) 6.000% 6/1/25 8,560 8,967
Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group) 5.000% 6/1/28 2,775 3,165
Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group) 5.000% 6/1/29 1,500 1,699
Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group) 5.000% 6/1/34 1,130 1,247
Southcentral Pennsylvania General Authority        
Revenue (WellSpan Health Obligated Group) 5.000% 6/1/44 2,500 2,728
Southeastern Pennsylvania Transportation        
Authority Revenue 5.000% 3/1/27 6,100 6,718
Southeastern Pennsylvania Transportation        
Authority Revenue 5.000% 3/1/28 5,000 5,499
St. Mary Hospital Authority Pennsylvania Health        
System Revenue (Catholic Health Initiatives) 5.000% 11/15/26 5,000 5,432
St. Mary Hospital Authority Pennsylvania Health        
System Revenue (Catholic Health Initiatives) 5.000% 11/15/27 1,505 1,634
State College PA Area School District GO 5.000% 3/15/34 2,000 2,252
State College PA Area School District GO 5.000% 3/15/40 3,000 3,331
State Public School Building Authority        
Pennsylvania College Revenue (Community        
College of Allegheny County Project) 5.000% 7/15/22 (4) 1,100 1,227
State Public School Building Authority        
Pennsylvania College Revenue (Delaware        
County Community College Project) 5.000% 10/1/29 (15) 1,210 1,374
State Public School Building Authority        
Pennsylvania College Revenue (Delaware        
County Community College Project) 5.000% 10/1/30 (15) 1,035 1,173
State Public School Building Authority        
Pennsylvania College Revenue (Montgomery        
County Community College) 5.000% 5/1/28 2,370 2,699
State Public School Building Authority        
Pennsylvania College Revenue (Montgomery        
County Community College) 5.000% 5/1/33 1,025 1,138
State Public School Building Authority        
Pennsylvania College Revenue (Montgomery        
County Community College) 5.500% 5/1/33 6,165 7,005
State Public School Building Authority        
Pennsylvania College Revenue (Montgomery        
County Community College) 5.000% 5/1/34 2,125 2,350
State Public School Building Authority        
Pennsylvania College Revenue (Montgomery        
County Community College) 5.000% 5/1/35 1,510 1,663
State Public School Building Authority        
Pennsylvania Lease Revenue (School District        
of Philadelphia) 5.000% 4/1/22 1,250 1,373
State Public School Building Authority        
Pennsylvania Lease Revenue (School District        
of Philadelphia) 5.000% 6/1/28 11,385 12,542
State Public School Building Authority        
Pennsylvania Lease Revenue (School District        
of Philadelphia) 5.000% 6/1/30 (4) 16,480 18,280
State Public School Building Authority        
Pennsylvania Lease Revenue (School District        
of Philadelphia) 5.000% 6/1/32 (4) 3,655 4,010

 

 

State Public School Building Authority        
Pennsylvania Lease Revenue (School District        
of Philadelphia) 5.000% 6/1/33 (4) 3,155 3,445
State Public School Building Authority        
Pennsylvania Lease Revenue (School District        
of Philadelphia) 5.000% 6/1/34 6,000 6,396
State Public School Building Authority        
Pennsylvania School Revenue (Chester        
Upland School District Project) 5.250% 9/15/30 3,545 3,906
Susquehanna PA Area Regional Airport        
Authority System Revenue 4.000% 1/1/33 5,000 4,748
Swarthmore Borough PA Authority College        
Revenue 5.000% 9/15/29 400 470
Swarthmore Borough PA Authority College        
Revenue 5.000% 9/15/30 1,020 1,195
Union County PA Higher Educational Facilities        
Financing Authority University Revenue        
(Bucknell University) 5.000% 4/1/32 1,000 1,148
Union County PA Higher Educational Facilities        
Financing Authority University Revenue        
(Bucknell University) 5.000% 4/1/37 2,000 2,245
Union County PA Higher Educational Facilities        
Financing Authority University Revenue        
(Bucknell University) 5.000% 4/1/42 2,000 2,245
Unionville-Chadds Ford PA School District GO 5.000% 6/1/30 1,575 1,870
Unionville-Chadds Ford PA School District GO 4.000% 6/1/31 1,500 1,618
University of Pittsburgh of the Commonwealth        
System of Higher Education Pennsylvania        
Revenue (University Capital Project) 5.250% 9/15/19 (Prere.) 14,000 15,456
Upper Merion PA Area School District GO 5.000% 1/15/34 650 732
Upper Merion PA Area School District GO 5.000% 1/15/36 1,000 1,120
Washington County PA Hospital Authority        
Revenue (Washington Hospital Project)        
VRDO 0.570% 3/1/17 LOC 535 535
West Shore PA Area Authority Hospital        
Revenue (Holy Spirit Hospital of the Sisters of        
Christian Charity Project) 6.000% 1/1/26 655 745
West Shore PA Area Authority Hospital        
Revenue (Holy Spirit Hospital of the Sisters of        
Christian Charity Project) 5.625% 1/1/32 5,600 6,352
West Shore PA Area Authority Revenue        
(Messiah Lifeways Obligated Group) 5.000% 7/1/22 1,000 1,112
West Shore PA Area Authority Revenue        
(Messiah Lifeways Obligated Group) 5.000% 7/1/25 1,605 1,800
West Shore PA Area Authority Revenue        
(Messiah Lifeways Obligated Group) 5.000% 7/1/30 1,500 1,621
West Shore PA Area Authority Revenue        
(Messiah Lifeways Obligated Group) 5.000% 7/1/35 1,750 1,840
West View PA Municipal Authority Water        
Revenue 5.000% 11/15/33 1,500 1,711
West View PA Municipal Authority Water        
Revenue 5.000% 11/15/34 1,500 1,704
West York PA Area School District GO 5.000% 4/1/33 4,245 4,667
1 Westmoreland County PA Industrial        
Development Authority Revenue 4.720% 7/1/35 3,000 3,047

 

 

Westmoreland County PA Industrial        
Development Authority Revenue (Excela        
Health Project) 5.125% 7/1/30 1,500 1,599
Westmoreland County PA Municipal Authority        
Revenue 6.125% 7/1/17 (ETM) 660 672
Westmoreland County PA Municipal Authority        
Revenue 5.000% 8/15/28 (15) 2,000 2,294
Westmoreland County PA Municipal Authority        
Revenue 5.000% 8/15/33 9,465 10,517
Westmoreland County PA Municipal Authority        
Revenue 5.000% 8/15/37 7,895 8,675
Westmoreland County PA Municipal Authority        
Revenue 5.000% 8/15/42 (15) 2,750 3,037
1 Westmoreland County PA Municipal Authority        
Revenue TOB VRDO 0.790% 3/7/17 5,665 5,665
1 Westmoreland County PA Municipal Authority        
Revenue TOB VRDO 0.790% 3/7/17 3,685 3,685
Westmoreland County PA Municipal Authority        
Service Water Revenue 0.000% 8/15/23 (14) 5,000 4,233
Wilkes-Barre PA Area School District GO 5.000% 8/1/27 (15) 1,240 1,415
Wilkes-Barre PA Area School District GO 5.000% 8/1/28 (15) 1,540 1,745
Wilkes-Barre PA Area School District GO 5.000% 8/1/29 (15) 1,860 2,093
Wilkes-Barre PA Finance Authority Revenue        
(University of Scranton Project) 5.000% 11/1/30 2,315 2,603
Wilkes-Barre PA Finance Authority Revenue        
(University of Scranton Project) 5.000% 11/1/31 2,430 2,726
Wilkes-Barre PA Finance Authority Revenue        
(University of Scranton Project) 5.000% 11/1/34 1,000 1,105
Wilkes-Barre PA Finance Authority Revenue        
(University of Scranton Project) 5.000% 11/1/35 4,110 4,501
Wilkes-Barre PA Finance Authority Revenue        
(University of Scranton Project) 5.000% 11/1/40 4,990 5,456
Wilkes-Barre PA Finance Authority Revenue        
(Wilkes University Project) 5.000% 3/1/17 (Prere.) 1,315 1,315
Wilkes-Barre PA Finance Authority Revenue        
(Wilkes University Project) 5.000% 3/1/27 885 885
York County PA GO 5.000% 6/1/31 2,180 2,512
York County PA GO 5.000% 6/1/38 5,000 5,621
        3,424,157
Guam (0.2%)        
Guam Government Business Privilege Tax        
Revenue 5.000% 11/15/39 4,900 5,071
Guam Power Authority Revenue 5.000% 10/1/27 1,000 1,095
        6,166
Puerto Rico (0.0%)        
Puerto Rico Public Buildings Authority        
Government Facilities Revenue 5.750% 7/1/22 (ETM) 10 12
Total Tax-Exempt Municipal Bonds (Cost $3,341,173)       3,430,335
Other Assets and Liabilities-Net (-0.7%)       (25,399)
Net Assets (100%)       3,404,936

1 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in
transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2017, the
aggregate value of these securities was $91,807,000, representing 2.7% of net assets.
2 Securities with a value of $1,608,000 have been segregated as initial margin for open futures contracts.
3 Security purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of
February 28, 2017.

 

Pennsylvania Long-Term Tax-Exempt Fund

KEY TO ABBREVIATIONS

ARS - Auction Rate Security. BAN - Bond Anticipation Note. COP - Certificate of Participation. CP - Commercial Paper.

FR - Floating Rate.

GAN - Grant Anticipation Note. GO - General Obligation Bond. PILOT – Payments in Lieu of Taxes.

PUT - Put Option Obligation.

RAN - Revenue Anticipation Note. TAN - Tax Anticipation Note.

TOB - Tender Option Bond.

TRAN - Tax Revenue Anticipation Note. VRDO - Variable Rate Demand Obligation.

VRDP - Variable Rate Demand Preferred. (ETM) - Escrowed to Maturity.

(Prere.) - Prerefunded.

Scheduled principal and interest payments are guaranteed by: (1) MBIA (Municipal Bond Investors Assurance).

(2) AMBAC (Ambac Assurance Corporation).

(3) FGIC (Financial Guaranty Insurance Company).

(4) AGM (Assured Guaranty Municipal Corporation). (5) BIGI (Bond Investors Guaranty Insurance).

(6) Connie Lee Inc.

(7) FHA (Federal Housing Authority).

(8) CapMAC (Capital Markets Assurance Corporation).

(9) American Capital Access Financial Guaranty Corporation. (10) XL Capital Assurance Inc.

(11) CIFG (CDC IXIS Financial Guaranty).

(12) AGC (Assured Guaranty Corporation).

(13) BHAC (Berkshire Hathaway Assurance Corporation). (14) NPFG (National Public Finance Guarantee Corporation). (15) BAM (Build America Mutual Assurance Company).

(16) MAC (Municipal Assurance Corporation). (17) RAA (Radian Asset Assurance Inc.). (18) SBLF (Michigan School Bond Loan Fund).

The insurance does not guarantee the market value of the municipal bonds.

 

LOC - Scheduled principal and interest payments are guaranteed by bank letter of credit.

A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value.

B. Various inputs may be used to determine the value of the fund's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

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 the fund's own assumptions used to determine
the fair value of investments).

The following table summarizes the market value of the fund's investments as of February 28, 2017, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Tax-Exempt Municipal Bonds — 3,430,335 —
Futures Contracts—Assets1 40 — —
Futures Contracts—Liabilities1 (23) — —
Total 17 3,430,335 —

1 Represents variation margin on the last day of the reporting period.

C. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract.

Futures contracts are valued at their quoted daily settlement prices. The aggregate settlement values of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

At February 28, 2017, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

 

        ($000)
      Aggregate  
    Number of Settlement Unrealized
    Long (Short) Value Long Appreciation
Futures Contracts Expiration Contracts (Short) (Depreciation)
2-Year U.S. Treasury Note June 2017 350 75,742 (13)
5-Year U.S. Treasury Note June 2017 (378) (44,492) 6
Ultra 10-Year U.S. Treasury Note June 2017 (113) (15,135) (3)
30-Year U.S. Treasury Bond June 2017 47 7,128 (1)
Ultra Long U.S. Treasury Bond June 2017 (36) (5,824) (77)
        (88)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

D. At February 28, 2017, the cost of investment securities for tax purposes was $3,342,947,000. Net unrealized appreciation of investment securities for tax purposes was $87,388,000, consisting of unrealized gains of $120,951,000 on securities that had risen in value since their purchase and $33,563,000 in unrealized losses on securities that had fallen in value since their purchase.


Item 2: Controls and Procedures

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3: Exhibits

(a) Certifications

    VANGUARD PENNSYLVANIA TAX-FREE FUNDS
 
By:   /s/ F. WILLIAM MCNABB III*
    F. WILLIAM MCNABB III
    CHIEF EXECUTIVE OFFICER
 
Date: April 17, 2017  

 

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.

    VANGUARD PENNSYLVANIA TAX-FREE FUNDS
By:   /s/ F. WILLIAM MCNABB III*
    F. WILLIAM MCNABB III
    CHIEF EXECUTIVE OFFICER
Date: April 17, 2017  
    VANGUARD PENNSYLVANIA TAX-FREE FUNDS
    /s/ THOMAS J. HIGGINS*
    THOMAS J. HIGGINS
    CHIEF FINANCIAL OFFICER
Date: April 17, 2017  

 

* By:/s/ ANNE E. ROBINSON

Anne E. Robinson, pursuant to a Power of Attorney filed on October 4, 2016, see file Number 33-32548, Incorporated by Reference.

 EX-99.CERT 2 pennsylvania_certs.htm pennsylvania_certs.htm - Generated by SEC Publisher for SEC Filing

 

 

CERTIFICATIONS

 

I, F. William McNabb III, certify that:

 

1. I have reviewed this report on Form N-Q of Vanguard Pennsylvania Tax-Free Funds;

 

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) and internal control over financial reporting (as defined in Rule 30a-3(d) 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) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(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:   April 17, 2017                    

/s/ F. William McNabb III

 

F. William McNabb III

 

Chief Executive Officer

 

0362216, v0.176

 

 

CERTIFICATIONS

 

I, Thomas J. Higgins, certify that:                                                                                           

 

1. I have reviewed this report on Form N-Q of Vanguard Pennsylvania Tax-Free Funds;

 

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) and internal control over financial reporting (as defined in Rule 30a-3(d) 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) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(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:    April 17, 2017                      

/s/  Thomas J Higgins

 

Thomas J. Higgins

 

Chief Financial Officer

 

0362216, v0.176