|
2026 Quarterly Report
(Unaudited)
|
|
BlackRock MuniYield Quality Fund, Inc. (MQY)
|
|
Not FDIC Insured • May Lose Value • No Bank Guarantee
|
|
Security
|
|
Par
(000)
|
Value
|
|
Municipal Bonds
|
|||
|
Alabama — 6.9%
|
|
||
|
Black Belt Energy Gas District, RB
|
|
|
|
|
Series A, 5.00%, 12/01/34
|
$
|
2,495
|
$ 2,618,381
|
|
Series A, 5.25%, 01/01/54(a)
|
|
9,325
|
9,912,872
|
|
Series A, 5.25%, 05/01/56(a)
|
|
8,380
|
8,515,797
|
|
Series C, 5.50%, 10/01/54(a)
|
|
18,075
|
19,480,176
|
|
Series F, 5.50%, 11/01/53(a)
|
|
5,295
|
5,536,276
|
|
County of Jefferson Alabama Sewer Revenue,
Refunding RB, 5.25%, 10/01/49
|
|
10,840
|
11,208,178
|
|
Energy Southeast A Cooperative District, RB(a)
|
|
|
|
|
Series A-1, 5.50%, 11/01/53
|
|
4,900
|
5,262,860
|
|
Series B-1, 5.75%, 04/01/54
|
|
14,325
|
15,630,356
|
|
Lower Alabama Gas District, RB, Series A, 5.00%,
09/01/46
|
|
2,565
|
2,647,859
|
|
Mobile County Industrial Development Authority, RB,
Series A, AMT, 5.00%, 06/01/54
|
|
2,295
|
2,224,082
|
|
Southeast Alabama Gas Supply District, Refunding RB,
Series B, 5.00%, 06/01/49(a)
|
|
11,525
|
12,129,611
|
|
Southeast Energy Authority A Cooperative District,
RB(a)
|
|
|
|
|
Series A, 5.00%, 01/01/56
|
|
10,625
|
10,878,867
|
|
Series A-1, 5.50%, 01/01/53
|
|
5,480
|
5,825,890
|
|
Series B, 5.00%, 01/01/54
|
|
1,230
|
1,297,147
|
|
Series B, 5.25%, 03/01/55
|
|
4,655
|
4,815,678
|
|
Series B-1, 5.00%, 05/01/53
|
|
9,585
|
9,912,531
|
|
|
|
|
127,896,561
|
|
Alaska — 0.1%
|
|
||
|
Municipality of Anchorage, RB, Series A, 4.50%,
02/01/60
|
|
1,650
|
1,465,384
|
|
Arizona — 5.2%
|
|
||
|
Arizona Industrial Development Authority, RB
|
|
|
|
|
4.38%, 07/01/39(b)
|
|
875
|
808,903
|
|
5.00%, 07/01/54(b)
|
|
1,160
|
1,000,279
|
|
7.10%, 01/01/55(b)
|
|
250
|
250,760
|
|
Series A, 5.00%, 07/01/49(b)
|
|
1,990
|
1,818,962
|
|
Series A, 5.00%, 07/15/49
|
|
1,000
|
910,010
|
|
Series A, 5.00%, 07/01/54(b)
|
|
1,530
|
1,362,868
|
|
Arizona Industrial Development Authority, Refunding
RB
|
|
|
|
|
5.50%, 07/01/52(b)
|
|
815
|
765,345
|
|
Series A, 5.13%, 07/01/37(b)
|
|
500
|
500,223
|
|
Series A, 5.38%, 07/01/50(b)
|
|
1,645
|
1,601,711
|
|
Series G, 5.00%, 07/01/47(b)
|
|
2,790
|
2,625,146
|
|
Series S, 5.00%, 07/01/37
|
|
750
|
755,932
|
|
City of Phoenix Civic Improvement Corp., ARB
|
|
|
|
|
Series B, AMT, Junior Lien, 5.00%, 07/01/44
|
|
7,170
|
7,312,104
|
|
Junior Lien, 5.00%, 07/01/49
|
|
2,330
|
2,379,361
|
|
City of Phoenix Civic Improvement Corp., RB
|
|
|
|
|
Series B, (AGM), 5.50%, 07/01/41
|
|
100
|
121,486
|
|
Junior Lien, 5.25%, 07/01/47
|
|
2,575
|
2,762,785
|
|
Glendale Industrial Development Authority, RB, 5.00%,
05/15/56
|
|
190
|
163,170
|
|
Industrial Development Authority of the City of Phoenix
Arizona, RB
|
|
|
|
|
5.00%, 07/01/44
|
|
2,000
|
2,001,570
|
|
Series A, 5.00%, 07/01/46(b)
|
|
5,145
|
4,882,130
|
|
Industrial Development Authority of the City of Phoenix
Arizona, Refunding RB, 5.00%, 07/01/45(b)
|
|
500
|
482,083
|
|
Security
|
|
Par
(000)
|
Value
|
|
Arizona (continued)
|
|
||
|
Industrial Development Authority of the County of
Pima, RB(b)
|
|
|
|
|
5.00%, 07/01/39
|
$
|
500
|
$ 499,954
|
|
5.00%, 07/01/49
|
|
1,150
|
1,062,303
|
|
Industrial Development Authority of the County of
Pima, RB, S/F Housing, Series C, (FHLMC, FNMA,
GNMA), 6.00%, 07/01/55
|
|
3,185
|
3,501,664
|
|
Industrial Development Authority of the County of
Pima, Refunding RB(b)
|
|
|
|
|
5.00%, 06/15/49
|
|
3,010
|
2,677,742
|
|
5.00%, 06/15/52
|
|
530
|
459,144
|
|
Maricopa County Industrial Development Authority, RB,
5.00%, 07/01/47
|
|
1,000
|
924,488
|
|
Maricopa County Industrial Development Authority,
Refunding RB(b)
|
|
|
|
|
5.00%, 07/01/47
|
|
1,000
|
929,080
|
|
5.00%, 07/01/54
|
|
730
|
669,350
|
|
McAllister Academic Village LLC, Refunding RB,
5.00%, 07/01/39
|
|
500
|
501,067
|
|
Phoenix-Mesa Gateway Airport Authority, ARB, 5.00%,
07/01/38
|
|
3,600
|
3,603,431
|
|
Pinal County Industrial Development Authority, RB,
6.25%, 06/01/26
|
|
55
|
55,003
|
|
Salt River Project Agricultural Improvement & Power
District, RB, Series B, 5.25%, 01/01/53
|
|
4,560
|
4,806,665
|
|
Salt Verde Financial Corp., RB
|
|
|
|
|
5.50%, 12/01/29
|
|
2,000
|
2,133,362
|
|
5.00%, 12/01/32
|
|
8,555
|
9,170,815
|
|
5.00%, 12/01/37
|
|
11,085
|
11,748,036
|
|
Sierra Vista Industrial Development Authority, RB,
5.75%, 06/15/53(b)
|
|
745
|
719,635
|
|
Town of Queen Creek, COP, 5.50%, 10/01/65
|
|
18,810
|
19,923,623
|
|
|
|
|
95,890,190
|
|
Arkansas — 0.2%
|
|
||
|
Arkansas Development Finance Authority, RB, AMT,
Sustainability Bonds, 5.70%, 05/01/53
|
|
3,245
|
3,322,793
|
|
California — 8.7%
|
|
||
|
California Community Choice Financing Authority, RB(a)
|
|
|
|
|
Sustainability Bonds, 5.50%, 10/01/54
|
|
2,355
|
2,570,979
|
|
Series B, Sustainability Bonds, 5.00%, 03/01/56
|
|
5,305
|
5,659,728
|
|
California Enterprise Development Authority, RB,
8.00%, 11/15/62(b)
|
|
2,845
|
2,510,828
|
|
California Housing Finance Agency, RB, M/F Housing,
Class 3, 5.80%, 04/01/36(b)
|
|
2,720
|
2,697,435
|
|
California Infrastructure & Economic Development
Bank, Refunding RB, Class B, AMT, Sustainability
Bonds, 12.00%, 01/01/65(a)(b)
|
|
6,560
|
3,804,800
|
|
California Municipal Finance Authority, RB, M/F
Housing
|
|
|
|
|
6.00%, 02/01/38(a)
|
|
3,200
|
3,173,109
|
|
Series A, 6.10%, 12/01/37
|
|
3,200
|
3,210,808
|
|
California Municipal Finance Authority, RB, S/F
Housing, Series 2025-1, Class A-1, 0.00%,
02/20/41(a)
|
|
1,635
|
1,524,266
|
|
California Statewide Financing Authority, RB, Series A,
6.00%, 05/01/43
|
|
3,285
|
3,348,420
|
|
City of Los Angeles Department of Airports, ARB, AMT,
Sustainability Bonds, 5.00%, 05/15/47
|
|
2,415
|
2,474,104
|
|
Security
|
|
Par
(000)
|
Value
|
|
California (continued)
|
|
||
|
City of Los Angeles Department of Airports, Refunding
ARB, Series A, AMT, Sustainability Bonds, 5.50%,
05/15/55
|
$
|
2,305
|
$ 2,456,632
|
|
CSCDA Community Improvement Authority, RB, M/F
Housing, Sustainability Bonds, 5.00%, 09/01/37(b)
|
|
355
|
361,563
|
|
Grossmont Union High School District, GO, Election
2004, 0.00%, 08/01/31(c)
|
|
5,000
|
4,315,084
|
|
Grossmont-Cuyamaca Community College District,
GO, Series C, Election 2002, (PSF), 0.00%,
08/01/30(c)
|
|
10,030
|
8,909,995
|
|
Hartnell Community College District, GO
|
|
|
|
|
Series D, 7.00%, 08/01/34
|
|
6,600
|
6,954,239
|
|
Series C, Election 2008, 0.00%, 07/01/38(c)
|
|
5,200
|
3,384,090
|
|
Sustainability Bonds, 4.00%, 07/01/53
|
|
9,260
|
8,685,079
|
|
Hartnell Community College District, Refunding GO,
CAB, Series R-1, 0.00%, 07/01/30(c)
|
|
5,000
|
4,454,506
|
|
Mt San Antonio Community College District, Refunding
GO, CAB, Series A, Convertible, Election 2008,
6.25%, 08/01/43
|
|
9,445
|
9,741,975
|
|
Norman Y Mineta San Jose International Airport SJC,
Refunding RB, Series A, AMT, 5.00%, 03/01/41
|
|
2,815
|
2,836,448
|
|
Norwalk-La Mirada Unified School District, Refunding
GO, Series E, Election 2002, (AGM), 0.00%,
08/01/38(c)
|
|
12,000
|
7,303,756
|
|
Palomar Community College District, GO
|
|
|
|
|
Series B, Convertible, 6.20%, 08/01/39
|
|
4,000
|
4,969,977
|
|
Series B, Election 2006, 0.00%, 08/01/30(c)
|
|
2,270
|
2,022,445
|
|
Poway Unified School District, Refunding GO, 0.00%,
08/01/36(c)
|
|
8,750
|
6,249,088
|
|
Rio Hondo Community College District, GO(c)
|
|
|
|
|
Series C, Election 2004, 0.00%, 08/01/37
|
|
4,005
|
2,724,887
|
|
Series C, Election 2004, 0.00%, 08/01/38
|
|
5,000
|
3,245,268
|
|
Sacramento Metropolitan Fire District, GO, Series A,
Election 2024, 4.00%, 08/01/55
|
|
1,480
|
1,357,972
|
|
San Diego Community College District, GO, Election
2002, 6.00%, 08/01/27(d)
|
|
4,200
|
4,392,109
|
|
San Diego County Regional Airport Authority, ARB,
Series B, AMT, Subordinate, 5.00%, 07/01/56
|
|
685
|
688,526
|
|
San Diego Unified School District, Refunding GO,
CAB, Series R-1, 0.00%, 07/01/31(c)
|
|
4,115
|
3,547,713
|
|
San Francisco City & County Airport Comm-San
Francisco International Airport, Refunding ARB,
Series D, AMT, 5.25%, 05/01/55
|
|
12,300
|
12,762,715
|
|
San Mateo County Community College District, GO,
Series C, (AGM), 0.00%, 09/01/30(c)
|
|
12,740
|
11,282,278
|
|
State of California, GO
|
|
|
|
|
5.50%, 04/01/28
|
|
5
|
5,012
|
|
(PSF), 5.00%, 04/01/31
|
|
10
|
10,019
|
|
Walnut Valley Unified School District, GO, Series B,
Election 2007, 0.00%, 08/01/36(c)
|
|
5,500
|
3,712,182
|
|
Washington Township Health Care District, GO,
Series B, Election 2004, 5.50%, 08/01/40
|
|
625
|
629,361
|
|
Yosemite Community College District, GO(c)
|
|
|
|
|
Series D, Election 2004, 0.00%, 08/01/36
|
|
17,000
|
12,010,216
|
|
Series D, Election 2004, 0.00%, 08/01/37
|
|
2,790
|
1,885,684
|
|
|
|
|
161,873,296
|
|
Colorado — 0.9%
|
|
||
|
Centerra Metropolitan District No. 1, TA, 5.00%,
12/01/47(b)
|
|
345
|
344,973
|
|
Security
|
|
Par
(000)
|
Value
|
|
Colorado (continued)
|
|
||
|
City & County of Denver Colorado Airport System
Revenue, Refunding ARB
|
|
|
|
|
Series A, AMT, 5.00%, 11/15/47
|
$
|
1,115
|
$ 1,139,569
|
|
Series A, AMT, 5.00%, 12/01/48
|
|
2,900
|
2,905,299
|
|
Series D, AMT, 5.75%, 11/15/45
|
|
870
|
943,734
|
|
Colorado Health Facilities Authority, RB
|
|
|
|
|
5.50%, 11/01/47
|
|
4,305
|
4,545,304
|
|
5.25%, 11/01/52
|
|
745
|
767,747
|
|
Colorado Health Facilities Authority, Refunding RB
|
|
|
|
|
Series A, 4.00%, 08/01/44
|
|
2,000
|
1,826,099
|
|
Series A, 5.00%, 05/15/52
|
|
4,010
|
4,093,192
|
|
Colorado Housing and Finance Authority, RB, M/F
Housing, Series A, Sustainability Bonds, (AGM),
4.48%, 03/01/44
|
|
555
|
554,014
|
|
|
|
|
17,119,931
|
|
Connecticut — 0.6%
|
|
||
|
Connecticut State Health & Educational Facilities
Authority, RB, 4.25%, 07/15/53
|
|
1,790
|
1,649,038
|
|
Connecticut State Health & Educational Facilities
Authority, Refunding RB, 5.50%, 07/01/55
|
|
6,770
|
7,183,737
|
|
Waterbury Housing Authority, RB, M/F Housing,
Series A, (AGM), 4.50%, 02/01/42
|
|
1,680
|
1,691,112
|
|
|
|
|
10,523,887
|
|
District of Columbia — 3.3%
|
|
||
|
District of Columbia Housing Finance Agency, RB, M/F
Housing, Series A, Sustainability Bonds, (PSF),
4.88%, 09/01/45
|
|
1,280
|
1,321,604
|
|
District of Columbia Income Tax Revenue, Refunding
RB, Series A, 5.25%, 06/01/50
|
|
5,760
|
6,128,080
|
|
District of Columbia Water & Sewer Authority, RB,
Series A, Sustainability Bonds, 5.00%, 10/01/52
|
|
1,875
|
1,887,673
|
|
District of Columbia, Refunding GO, Series A, 5.25%,
01/01/48
|
|
3,175
|
3,356,369
|
|
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB
|
|
|
|
|
Series A, AMT, 5.25%, 10/01/49
|
|
380
|
393,533
|
|
Series A, AMT, 5.50%, 10/01/54
|
|
2,530
|
2,648,894
|
|
Series A, AMT, 5.50%, 10/01/55
|
|
2,445
|
2,580,571
|
|
Metropolitan Washington Airports Authority Dulles Toll
Road Revenue, Refunding RB
|
|
|
|
|
Series B, 2nd Senior Lien, (SAP), 0.00%,
10/01/31(c)
|
|
8,350
|
6,971,446
|
|
Series B, 2nd Senior Lien, (AMBAC), 0.00%,
10/01/32(c)
|
|
15,000
|
12,035,838
|
|
Series B, 2nd Senior Lien, (AGM), 0.00%,
10/01/33(c)
|
|
13,410
|
10,317,757
|
|
Series B, Subordinate, 4.00%, 10/01/49
|
|
7,530
|
6,663,910
|
|
Washington Metropolitan Area Transit Authority
Dedicated Revenue, RB
|
|
|
|
|
Series A, 2nd Lien, Sustainability Bonds, 4.38%,
07/15/59
|
|
3,305
|
3,139,169
|
|
Series A, 2nd Lien, Sustainability Bonds, 5.25%,
07/15/59
|
|
2,565
|
2,680,624
|
|
Sustainability Bonds, 5.00%, 07/15/45
|
|
1,965
|
2,074,556
|
|
|
|
|
62,200,024
|
|
Florida — 8.4%
|
|
||
|
Brevard County Health Facilities Authority, Refunding
RB, Series A, 5.00%, 04/01/47
|
|
2,725
|
2,767,072
|
|
Capital Trust Agency, Inc., RB(b)
|
|
|
|
|
5.00%, 01/01/55
|
|
1,360
|
1,165,595
|
|
Series A, 5.00%, 06/15/49
|
|
100
|
90,720
|
|
Security
|
|
Par
(000)
|
Value
|
|
Florida (continued)
|
|
||
|
Capital Trust Agency, Inc., RB(b) (continued)
|
|
|
|
|
Series A, 5.00%, 06/01/55
|
$
|
1,765
|
$ 1,480,929
|
|
Series A, 5.50%, 06/01/57
|
|
630
|
565,314
|
|
City of Fort Lauderdale Florida Water & Sewer
Revenue, RB
|
|
|
|
|
Series A, 5.50%, 09/01/48
|
|
5,275
|
5,764,299
|
|
Series B, 5.50%, 09/01/48
|
|
4,615
|
5,043,079
|
|
City of Gainesville Florida Utilities System Revenue,
Refunding RB, Series A, 5.00%, 10/01/29(d)
|
|
5
|
5,372
|
|
City of Miami Florida, RB, Series A, 5.00%, 03/01/48
|
|
3,200
|
3,329,594
|
|
City of Tampa Florida Water & Wastewater System
Revenue, RB, Series A, Sustainability Bonds,
5.25%, 10/01/57
|
|
2,500
|
2,621,338
|
|
County of Broward Florida Airport System Revenue,
ARB
|
|
|
|
|
Series A, AMT, 5.00%, 10/01/42
|
|
5,100
|
5,155,667
|
|
Series A, AMT, 5.00%, 10/01/44
|
|
1,740
|
1,777,061
|
|
County of Broward Florida Water & Sewer Utility
Revenue, RB, Series A, 4.00%, 10/01/45
|
|
445
|
436,604
|
|
County of Lee Florida Airport Revenue, ARB, AMT,
5.25%, 10/01/54
|
|
500
|
513,305
|
|
County of Miami-Dade Florida Aviation Revenue,
Refunding ARB
|
|
|
|
|
Series A, AMT, 5.00%, 10/01/44
|
|
2,645
|
2,696,287
|
|
Series A, AMT, 5.50%, 10/01/55
|
|
6,000
|
6,299,672
|
|
County of Miami-Dade Florida Water & Sewer System
Revenue, RB, 4.00%, 10/01/48
|
|
2,900
|
2,679,814
|
|
County of Miami-Dade Florida, RB(c)
|
|
|
|
|
0.00%, 10/01/32
|
|
5,000
|
4,080,902
|
|
0.00%, 10/01/33
|
|
15,375
|
12,091,284
|
|
County of Miami-Dade Seaport Department, Refunding
RB
|
|
|
|
|
Series A, AMT, 5.00%, 10/01/41
|
|
2,000
|
2,095,814
|
|
Series A, AMT, 5.25%, 10/01/52
|
|
11,865
|
12,067,004
|
|
County of Osceola Florida Transportation Revenue,
Refunding RB, CAB(c)
|
|
|
|
|
Series A-2, 0.00%, 10/01/46
|
|
2,740
|
964,868
|
|
Series A-2, 0.00%, 10/01/47
|
|
4,425
|
1,445,602
|
|
County of Pasco Florida, RB, (AGM), 5.75%, 09/01/54
|
|
1,005
|
1,078,539
|
|
Florida Development Finance Corp., RB, AMT, 5.00%,
05/01/29(b)
|
|
1,755
|
1,768,171
|
|
Florida Development Finance Corp., Refunding RB
|
|
|
|
|
5.00%, 09/15/40(b)
|
|
710
|
694,748
|
|
AMT, (PSF), 5.00%, 07/01/44
|
|
17,735
|
17,257,235
|
|
AMT, (PSF), 5.25%, 07/01/47
|
|
4,200
|
4,197,086
|
|
Florida Housing Finance Corp., RB, S/F Housing,
Series 5, (PSF), 5.05%, 01/01/56
|
|
5,320
|
5,380,976
|
|
Florida State Board of Governors, RB, Series A, (PSF),
4.25%, 10/01/53
|
|
3,070
|
2,846,828
|
|
Greater Orlando Aviation Authority, ARB
|
|
|
|
|
Series A, AMT, 4.00%, 10/01/52
|
|
3,340
|
2,869,911
|
|
Sub-Series A, AMT, 5.00%, 10/01/47
|
|
11,515
|
11,537,035
|
|
AMT, Subordinate, 5.25%, 10/01/51
|
|
4,025
|
4,174,742
|
|
Lakewood Ranch Stewardship District, SAB
|
|
|
|
|
5.25%, 05/01/37
|
|
240
|
242,581
|
|
5.38%, 05/01/47
|
|
260
|
260,726
|
|
4.00%, 05/01/49
|
|
665
|
559,051
|
|
6.30%, 05/01/54
|
|
1,585
|
1,671,924
|
|
Security
|
|
Par
(000)
|
Value
|
|
Florida (continued)
|
|
||
|
Lakewood Ranch Stewardship District, SAB, S/F
Housing
|
|
|
|
|
4.00%, 05/01/40
|
$
|
600
|
$ 575,693
|
|
4.00%, 05/01/50
|
|
995
|
827,668
|
|
Miami-Dade County Educational Facilities Authority,
RB, Series C, 5.25%, 11/15/49
|
|
825
|
870,866
|
|
Orange County Health Facilities Authority, RB
|
|
|
|
|
5.00%, 10/01/47
|
|
1,930
|
1,958,430
|
|
Series A, 5.00%, 10/01/53
|
|
10,000
|
10,203,098
|
|
Seminole Improvement District, RB
|
|
|
|
|
5.00%, 10/01/32
|
|
255
|
262,484
|
|
5.30%, 10/01/37
|
|
440
|
457,201
|
|
Storey Creek Community Development District, SAB
|
|
|
|
|
4.00%, 12/15/39
|
|
415
|
392,375
|
|
4.13%, 12/15/49
|
|
850
|
726,225
|
|
Tampa-Hillsborough County Expressway Authority, RB,
5.00%, 07/01/47
|
|
3,105
|
3,129,089
|
|
Two Lakes Community Development District, SAB,
5.00%, 05/01/55
|
|
2,680
|
2,623,776
|
|
Village Community Development District No. 14, SAB,
5.50%, 05/01/53
|
|
2,320
|
2,352,756
|
|
Village Community Development District No. 15, SAB,
5.25%, 05/01/54(b)
|
|
1,155
|
1,148,226
|
|
Volusia County Educational Facility Authority, RB,
5.25%, 06/01/49
|
|
970
|
981,831
|
|
|
|
|
156,186,467
|
|
Georgia — 1.9%
|
|
||
|
City of Atlanta Georgia Department of Aviation, ARB,
Series B-1, AMT, Sustainability Bonds, 5.50%,
07/01/55
|
|
2,000
|
2,118,208
|
|
City of Atlanta Georgia Department of Aviation,
Refunding ARB, Series B, AMT, 5.00%, 07/01/52
|
|
480
|
483,725
|
|
County of DeKalb Georgia Water & Sewerage
Revenue, Refunding RB, 5.00%, 10/01/48
|
|
2,490
|
2,595,105
|
|
East Point Business & Industrial Development
Authority, RB, Series A, 5.25%, 06/15/62(b)(e)(f)
|
|
1,090
|
654,000
|
|
Gainesville & Hall County Hospital Authority, RB,
Series A, 4.00%, 02/15/51
|
|
5,635
|
4,893,883
|
|
Georgia Housing & Finance Authority, RB, S/F
Housing, Series C, 5.13%, 12/01/50
|
|
3,360
|
3,422,814
|
|
Georgia Housing & Finance Authority, Refunding RB,
S/F Housing, Series C, 4.60%, 12/01/54
|
|
2,635
|
2,599,923
|
|
Main Street Natural Gas, Inc., RB(a)
|
|
|
|
|
Series A, 5.00%, 06/01/53
|
|
8,665
|
9,102,508
|
|
Series B, 5.00%, 12/01/52
|
|
5,695
|
5,930,587
|
|
Main Street Natural Gas, Inc., Refunding RB,
Series E-1, 5.00%, 12/01/53(a)
|
|
1,655
|
1,765,252
|
|
Municipal Electric Authority of Georgia, RB, Class A,
5.50%, 07/01/63
|
|
1,930
|
1,976,041
|
|
|
|
|
35,542,046
|
|
Hawaii — 0.2%
|
|
||
|
State of Hawaii Airports System Revenue, ARB
|
|
|
|
|
Series B, 5.00%, 07/01/49
|
|
2,785
|
2,930,046
|
|
AMT, 5.25%, 08/01/26
|
|
525
|
526,088
|
|
|
|
|
3,456,134
|
|
Idaho — 0.9%
|
|
||
|
Idaho Health Facilities Authority, Refunding RB
|
|
|
|
|
(FHLMC, FNMA, GNMA), 4.38%, 03/01/53
|
|
3,630
|
3,561,960
|
|
Security
|
|
Par
(000)
|
Value
|
|
Idaho (continued)
|
|
||
|
Idaho Health Facilities Authority, Refunding
RB (continued)
|
|
|
|
|
Series A, 4.38%, 03/01/53
|
$
|
3,095
|
$ 2,930,771
|
|
Power County Industrial Development Corp., RB,
6.45%, 08/01/32
|
|
10,000
|
10,034,838
|
|
|
|
|
16,527,569
|
|
Illinois — 9.7%
|
|
||
|
Chicago Board of Education, GO
|
|
|
|
|
Series A, 5.00%, 12/01/34
|
|
3,630
|
3,692,366
|
|
Series A, 5.00%, 12/01/40
|
|
1,480
|
1,462,860
|
|
Series A, 6.25%, 12/01/50
|
|
6,410
|
6,730,070
|
|
Series C, 5.25%, 12/01/35
|
|
1,800
|
1,792,616
|
|
Series D, 5.00%, 12/01/46
|
|
6,905
|
6,352,895
|
|
Chicago Board of Education, Refunding GO
|
|
|
|
|
Series B, 6.00%, 12/01/43
|
|
2,705
|
2,885,184
|
|
Series C, 5.00%, 12/01/34
|
|
370
|
370,769
|
|
Series G, 5.00%, 12/01/34
|
|
745
|
746,549
|
|
Chicago Midway International Airport, Refunding ARB,
Series A, AMT, Senior Lien, (AGM), 5.75%,
01/01/48
|
|
1,010
|
1,074,652
|
|
Chicago O’Hare International Airport, ARB
|
|
|
|
|
Series E, AMT, Senior Lien, 5.50%, 01/01/60
|
|
1,540
|
1,594,100
|
|
Series A, Senior Lien, 5.25%, 01/01/61
|
|
10,335
|
10,703,410
|
|
Series B, Senior Lien, 4.50%, 01/01/56
|
|
2,305
|
2,187,493
|
|
Chicago O’Hare International Airport, Refunding ARB
|
|
|
|
|
Series A, AMT, Senior Lien, 5.00%, 01/01/48
|
|
9,170
|
9,095,015
|
|
Series A, AMT, Senior Lien, 5.25%, 01/01/48
|
|
3,340
|
3,419,726
|
|
Series A, AMT, Senior Lien, 4.38%, 01/01/53
|
|
3,610
|
3,296,677
|
|
Series A, AMT, Senior Lien, 5.00%, 01/01/53
|
|
3,000
|
2,962,679
|
|
Series B, Senior Lien, 5.50%, 01/01/59
|
|
4,510
|
4,756,160
|
|
Chicago Transit Authority Sales Tax Receipts Fund,
Refunding RB, Series A, 2nd Lien, 5.00%, 12/01/57
|
|
3,900
|
3,934,879
|
|
City of Chicago Illinois Wastewater Transmission
Revenue, RB
|
|
|
|
|
Series A, 2nd Lien, (AMBAC), 5.25%, 01/01/53
|
|
3,710
|
3,839,368
|
|
Series A, 2nd Lien, (BAM), 5.25%, 01/01/58
|
|
1,185
|
1,221,675
|
|
City of Chicago Illinois Waterworks Revenue, RB,
Series A, 2nd Lien, (BAM), 5.50%, 11/01/62
|
|
5,430
|
5,671,916
|
|
Illinois Finance Authority, Refunding RB
|
|
|
|
|
Series A, 5.00%, 11/15/45
|
|
5,000
|
5,000,487
|
|
Series C, 4.00%, 02/15/27(d)
|
|
110
|
111,064
|
|
Series C, 4.00%, 02/15/41
|
|
15
|
14,734
|
|
Illinois Housing Development Authority, Refunding RB,
S/F Housing, Series H, Sustainability Bonds, (AGM),
4.65%, 10/01/43
|
|
2,920
|
2,980,700
|
|
Metropolitan Pier & Exposition Authority, RB
|
|
|
|
|
5.00%, 06/15/57
|
|
5,290
|
5,222,064
|
|
Series A, (FNMA), 0.00%, 12/15/26(c)
|
|
5,000
|
4,906,602
|
|
Series A, (BAM), 0.00%, 12/15/33(c)
|
|
9,950
|
7,608,342
|
|
Series A, (BAM), 0.00%, 12/15/36(c)
|
|
10,000
|
6,687,101
|
|
Metropolitan Pier & Exposition Authority, RB, CAB(c)
|
|
|
|
|
(AGM), 0.00%, 06/15/30(g)
|
|
800
|
704,836
|
|
(BAM), 0.00%, 12/15/56
|
|
2,965
|
639,557
|
|
Series A, (HUD SECT 8), 0.00%, 06/15/30
|
|
14,205
|
12,422,709
|
|
Metropolitan Pier & Exposition Authority, Refunding
RB(c)
|
|
|
|
|
Series B, (FNMA), 0.00%, 06/15/44
|
|
21,980
|
9,902,513
|
|
Series B, (BAM), 0.00%, 06/15/47
|
|
30,225
|
11,092,366
|
|
Regional Transportation Authority, RB, Series B, (BAM-
TCRS), 5.75%, 06/01/33
|
|
5,200
|
5,743,912
|
|
Security
|
|
Par
(000)
|
Value
|
|
Illinois (continued)
|
|
||
|
State of Illinois, GO
|
|
|
|
|
5.50%, 05/01/39
|
$
|
4,395
|
$ 4,665,953
|
|
Series B, 5.25%, 05/01/41
|
|
2,980
|
3,173,737
|
|
Series B, 5.25%, 05/01/44
|
|
2,375
|
2,523,761
|
|
Series C, 5.50%, 04/01/51
|
|
8,730
|
9,128,402
|
|
Series D, 5.00%, 11/01/27
|
|
440
|
453,761
|
|
Series F, 5.25%, 09/01/47
|
|
4,725
|
4,895,427
|
|
Series F, 5.25%, 09/01/48
|
|
3,880
|
3,998,493
|
|
|
|
|
179,667,580
|
|
Indiana — 0.8%
|
|
||
|
City of Valparaiso Indiana, Refunding RB, AMT, 4.50%,
01/01/34(b)
|
|
520
|
530,647
|
|
Indiana Finance Authority, RB, Series A, 5.00%,
10/01/53
|
|
1,610
|
1,647,826
|
|
Indiana Finance Authority, Refunding RB
|
|
|
|
|
Class A, 5.50%, 10/01/50
|
|
2,460
|
2,606,559
|
|
Series C, 5.25%, 10/01/46
|
|
4,945
|
5,289,233
|
|
Series C, 5.25%, 10/01/47
|
|
1,715
|
1,822,862
|
|
Indianapolis Local Public Improvement Bond Bank,
Refunding ARB, Series B1, 5.25%, 01/01/55
|
|
3,695
|
3,837,565
|
|
|
|
|
15,734,692
|
|
Iowa — 0.4%
|
|
||
|
Iowa Finance Authority, RB, S/F Housing
|
|
|
|
|
Series A, Sustainability Bonds, (Remove), 4.75%,
07/01/49
|
|
2,230
|
2,223,628
|
|
Series E, Sustainability Bonds, (PSF), 4.63%,
07/01/54
|
|
4,510
|
4,450,304
|
|
|
|
|
6,673,932
|
|
Kansas — 0.2%
|
|
||
|
City of Lenexa Kansas, Refunding RB, Series A,
5.00%, 05/15/43
|
|
550
|
550,706
|
|
University of Kansas Hospital Authority, Refunding RB,
5.50%, 03/01/54
|
|
2,350
|
2,505,982
|
|
|
|
|
3,056,688
|
|
Kentucky — 1.8%
|
|
||
|
City of Henderson Kentucky, RB, Series A, AMT,
4.70%, 01/01/52(b)
|
|
840
|
779,082
|
|
County of Boyle Kentucky, Refunding RB
|
|
|
|
|
Series A, 4.25%, 06/01/46
|
|
940
|
867,348
|
|
Series A, 5.25%, 06/01/49
|
|
3,595
|
3,636,443
|
|
Kentucky Public Energy Authority, Refunding RB(a)
|
|
|
|
|
Series A-1, 5.25%, 04/01/54
|
|
8,535
|
9,104,275
|
|
Series B, 5.00%, 01/01/55
|
|
6,045
|
6,407,598
|
|
Kentucky Public Transportation Infrastructure Authority,
RB, CAB
|
|
|
|
|
Convertible, 6.45%, 07/01/34
|
|
1,000
|
1,145,795
|
|
Convertible, 6.60%, 07/01/39
|
|
1,395
|
1,583,151
|
|
Convertible, 6.75%, 07/01/43
|
|
2,485
|
2,790,986
|
|
Louisville and Jefferson County Metropolitan Sewer
District, Refunding RB, Series C, 5.00%, 05/15/49
|
|
3,000
|
3,109,781
|
|
University of Kentucky, RB, Class A, 5.00%, 04/01/55
|
|
3,510
|
3,570,500
|
|
|
|
|
32,994,959
|
|
Louisiana — 2.2%
|
|
||
|
Louisiana Public Facilities Authority, RB
|
|
|
|
|
5.25%, 10/01/53
|
|
2,530
|
2,491,218
|
|
AMT, 5.75%, 09/01/64
|
|
12,015
|
12,343,198
|
|
Louisiana Stadium & Exposition District, Refunding RB
|
|
|
|
|
Series A, 5.00%, 07/01/48
|
|
4,430
|
4,542,736
|
|
Series A, 5.25%, 07/01/53
|
|
11,335
|
11,684,219
|
|
Security
|
|
Par
(000)
|
Value
|
|
Louisiana (continued)
|
|
||
|
New Orleans Aviation Board, ARB, Series B, AMT,
5.00%, 01/01/48
|
$
|
3,000
|
$ 2,983,280
|
|
Port New Orleans Board of Commissioners, ARB
|
|
|
|
|
Series B, AMT, (FHLMC, FNMA, GNMA), 5.50%,
04/01/51
|
|
2,030
|
2,123,332
|
|
Series E, AMT, 5.00%, 04/01/44
|
|
4,315
|
4,382,144
|
|
|
|
|
40,550,127
|
|
Maine — 0.4%
|
|
||
|
Maine Health & Higher Educational Facilities Authority,
RB, Series B, (Remove), 4.75%, 07/01/53
|
|
3,000
|
3,005,630
|
|
Maine State Housing Authority, RB, S/F Housing,
Series C, Sustainability Bonds, (AGM), 4.75%,
11/15/49
|
|
4,250
|
4,253,473
|
|
|
|
|
7,259,103
|
|
Maryland — 0.9%
|
|
||
|
Anne Arundel County Consolidated Special Taxing
District, Refunding ST, 5.00%, 07/01/32
|
|
495
|
495,428
|
|
City of Baltimore Maryland, Refunding RB, Series A,
4.50%, 09/01/33
|
|
185
|
185,834
|
|
City of Baltimore Maryland, Refunding TA, Series A,
Senior Lien, 3.50%, 06/01/39(b)
|
|
650
|
599,780
|
|
City of Baltimore Maryland, TA(b)
|
|
|
|
|
Series B, 3.70%, 06/01/39
|
|
200
|
188,524
|
|
Series B, 3.88%, 06/01/46
|
|
300
|
265,945
|
|
County of Prince George’s Maryland, TA, 5.25%,
07/01/48(b)
|
|
300
|
300,116
|
|
Howard County Housing Commission, RB, M/F
Housing, Series A, 5.00%, 06/01/44
|
|
550
|
550,332
|
|
Maryland Economic Development Corp., RB
|
|
|
|
|
5.00%, 07/01/56
|
|
535
|
525,667
|
|
Class B, AMT, Sustainability Bonds, 5.25%,
06/30/55
|
|
7,505
|
7,469,066
|
|
Maryland Economic Development Corp., Refunding
RB, 5.00%, 07/01/37
|
|
500
|
500,194
|
|
Maryland Health & Higher Educational Facilities
Authority, Refunding RB
|
|
|
|
|
4.13%, 07/01/47
|
|
500
|
477,328
|
|
Series A, 5.25%, 08/15/54
|
|
5,600
|
5,783,672
|
|
|
|
|
17,341,886
|
|
Massachusetts — 2.6%
|
|
||
|
Commonwealth of Massachusetts Transportation Fund
Revenue, RB
|
|
|
|
|
Series B, 5.00%, 06/01/50
|
|
5,000
|
5,196,477
|
|
Series B, 5.00%, 06/01/52
|
|
2,835
|
2,914,052
|
|
Commonwealth of Massachusetts, GOL, Series D,
5.00%, 10/01/50
|
|
2,740
|
2,850,391
|
|
Massachusetts Bay Transportation Authority Sales Tax
Revenue, Refunding RB
|
|
|
|
|
Series A, 5.25%, 07/01/29
|
|
730
|
792,975
|
|
Series A-1, 5.25%, 07/01/29
|
|
3,250
|
3,530,370
|
|
Massachusetts Development Finance Agency, RB
|
|
|
|
|
5.00%, 10/01/48
|
|
200
|
183,644
|
|
Series A, (FHLMC, FNMA, GNMA), 5.75%,
01/01/42
|
|
650
|
761,441
|
|
Series A, 5.00%, 01/01/47
|
|
4,255
|
4,254,887
|
|
Massachusetts Development Finance Agency,
Refunding RB
|
|
|
|
|
5.00%, 04/15/40
|
|
1,600
|
1,589,570
|
|
4.13%, 10/01/42(b)
|
|
550
|
520,027
|
|
5.00%, 07/01/47
|
|
8,500
|
8,509,171
|
|
(FHLMC, FNMA, GNMA), 5.50%, 07/01/50
|
|
990
|
1,073,110
|
|
Security
|
|
Par
(000)
|
Value
|
|
Massachusetts (continued)
|
|
||
|
Massachusetts Development Finance Agency,
Refunding RB (continued)
|
|
|
|
|
5.50%, 07/01/55
|
$
|
7,325
|
$ 7,765,277
|
|
(FHLMC, FNMA, GNMA), 5.50%, 07/01/55
|
|
990
|
1,062,476
|
|
Series P, 5.45%, 05/15/59
|
|
1,500
|
1,605,366
|
|
Massachusetts Health & Educational Facilities
Authority, Refunding RB, Series M, 5.50%, 02/15/27
|
|
1,000
|
1,023,417
|
|
Massachusetts Housing Finance Agency, Refunding
RB
|
|
|
|
|
Series A, AMT, 4.45%, 12/01/42
|
|
175
|
173,467
|
|
Series A, AMT, 4.50%, 12/01/47
|
|
245
|
228,017
|
|
Massachusetts Port Authority, ARB, Series E, AMT,
5.00%, 07/01/46
|
|
2,325
|
2,381,149
|
|
Massachusetts State College Building Authority,
Refunding RB, Series B, (AGM-CR), 5.50%,
05/01/39
|
|
825
|
996,499
|
|
|
|
|
47,411,783
|
|
Michigan — 2.2%
|
|
||
|
Eastern Michigan University, RB, Series A, 4.00%,
03/01/28(d)
|
|
60
|
61,472
|
|
Lansing Board of Water & Light, RB, Series A, 5.00%,
07/01/51
|
|
3,740
|
3,839,947
|
|
Michigan Finance Authority, RB
|
|
|
|
|
4.00%, 02/15/50
|
|
4,375
|
3,745,018
|
|
Series A, 4.00%, 11/15/50
|
|
6,525
|
5,545,461
|
|
Sustainability Bonds, 5.50%, 02/28/57
|
|
8,135
|
8,360,382
|
|
Michigan State Building Authority, Refunding RB,
Series II, 4.00%, 10/15/47
|
|
185
|
171,465
|
|
Michigan State Housing Development Authority, RB,
S/F Housing, Series D, Sustainability Bonds, 5.10%,
12/01/37
|
|
1,560
|
1,649,897
|
|
Michigan Strategic Fund, RB
|
|
|
|
|
AMT, 5.00%, 12/31/43
|
|
3,660
|
3,689,957
|
|
AMT, 5.00%, 06/30/48
|
|
11,165
|
11,044,195
|
|
State of Michigan Trunk Line Revenue, RB, 5.25%,
11/15/49
|
|
1,855
|
1,965,004
|
|
|
|
|
40,072,798
|
|
Minnesota — 0.7%
|
|
||
|
City of Spring Lake Park Minnesota, RB, 5.00%,
06/15/39
|
|
1,760
|
1,736,712
|
|
Duluth Economic Development Authority, Refunding
RB
|
|
|
|
|
Series A, 4.25%, 02/15/48
|
|
2,160
|
1,941,167
|
|
Series A, 5.25%, 02/15/58
|
|
3,125
|
3,131,845
|
|
Housing & Redevelopment Authority of The City of St.
Paul Minnesota, RB, Series A, 5.50%, 07/01/52(b)
|
|
305
|
287,957
|
|
Minneapolis-St Paul Metropolitan Airports Commission,
ARB, Series B, AMT, Subordinate, 5.25%, 01/01/49
|
|
6,695
|
6,857,601
|
|
|
|
|
13,955,282
|
|
Mississippi — 0.2%
|
|
||
|
Mississippi Home Corp., RB, Series 2025-06FN,
Class PT, 4.55%, 04/01/42
|
|
3,495
|
3,520,624
|
|
Missouri — 1.7%
|
|
||
|
Health & Educational Facilities Authority of the State of
Missouri, Refunding RB
|
|
|
|
|
Series A, 4.00%, 02/15/49
|
|
5,555
|
4,823,444
|
|
Series A, 4.25%, 04/01/55
|
|
16,210
|
15,278,175
|
|
Kansas City Industrial Development Authority, ARB
|
|
|
|
|
Class B, AMT, (NPFGC), 5.00%, 03/01/49
|
|
1,335
|
1,344,875
|
|
Class B, AMT, (AGM), 5.00%, 03/01/55
|
|
1,345
|
1,348,715
|
|
Security
|
|
Par
(000)
|
Value
|
|
Missouri (continued)
|
|
||
|
Kansas City Industrial Development Authority,
ARB (continued)
|
|
|
|
|
Series B, AMT, 5.00%, 03/01/39
|
$
|
3,750
|
$ 3,854,631
|
|
Kansas City Industrial Development Authority, RB, M/F
Housing, Sustainability Bonds, (BAM), 4.39%,
09/01/42
|
|
1,563
|
1,584,039
|
|
Missouri Housing Development Commission, RB, S/F
Housing
|
|
|
|
|
(NPFGC), 4.70%, 11/01/56
|
|
2,000
|
1,992,857
|
|
Series A, (AGM-CR), 4.60%, 11/01/49
|
|
315
|
311,663
|
|
Series C, (AGM), 5.00%, 11/01/55
|
|
1,825
|
1,851,262
|
|
|
|
|
32,389,661
|
|
Nebraska — 1.3%
|
|
||
|
Central Plains Energy Project, Refunding RB, Series A,
5.00%, 09/01/37
|
|
5,410
|
5,688,560
|
|
Omaha Public Power District, RB
|
|
|
|
|
Series A, 4.25%, 02/01/47
|
|
4,760
|
4,668,206
|
|
Series A, 5.25%, 02/01/48
|
|
12,985
|
13,830,800
|
|
|
|
|
24,187,566
|
|
Nevada — 0.3%
|
|
||
|
Las Vegas Convention & Visitors Authority, RB,
Series B, 4.00%, 07/01/49
|
|
1,000
|
909,498
|
|
Las Vegas Valley Water District, GOL, Series A, 5.25%,
06/01/55
|
|
5,135
|
5,430,776
|
|
State of Nevada Department of Business & Industry,
RB, Series A, 5.00%, 07/15/37
|
|
125
|
125,003
|
|
|
|
|
6,465,277
|
|
New Hampshire — 2.7%
|
|
||
|
New Hampshire Business Finance Authority, RB,
Series A, Sustainability Bonds, 5.50%, 06/01/55
|
|
16,600
|
17,173,462
|
|
New Hampshire Business Finance Authority, RB, M/F
Housing
|
|
|
|
|
1st Series, Class B, 5.75%, 04/28/42
|
|
4,300
|
4,421,211
|
|
1st Series, Subordinate, 5.13%, 01/28/43(a)
|
|
2,365
|
2,381,956
|
|
Series 2025, Subordinate, 5.15%, 09/28/37
|
|
6,700
|
6,688,634
|
|
Class A-1, Sustainability Bonds, 0.00%, 11/20/42(a)
|
|
12,219
|
11,906,038
|
|
Series 2, Sustainability Bonds, 4.25%, 07/20/41
|
|
5,157
|
5,144,474
|
|
Series 2, Class 3-A, Sustainability Bonds, 0.00%,
10/01/51(a)
|
|
2,343
|
2,287,063
|
|
|
|
|
50,002,838
|
|
New Jersey — 6.3%
|
|
||
|
Camden County Improvement Authority, RB,
Sustainability Bonds, 6.00%, 06/15/62
|
|
1,000
|
1,025,715
|
|
New Jersey Economic Development Authority, ARB,
Series B, AMT, 5.63%, 11/15/30
|
|
990
|
991,452
|
|
New Jersey Economic Development Authority, RB
|
|
|
|
|
Class A, 5.25%, 11/01/47
|
|
3,565
|
3,755,697
|
|
Series B, 6.50%, 04/01/31
|
|
1,275
|
1,279,225
|
|
Series EEE, 5.00%, 06/15/48
|
|
8,065
|
8,198,869
|
|
AMT, (AGM), 5.00%, 01/01/31
|
|
900
|
915,096
|
|
AMT, 5.13%, 01/01/34
|
|
2,230
|
2,233,891
|
|
AMT, (AGM), 5.13%, 07/01/42
|
|
300
|
302,226
|
|
AMT, 5.38%, 01/01/43
|
|
2,905
|
2,908,257
|
|
New Jersey Economic Development Authority,
Refunding RB, Series BBB, 5.50%, 12/15/26(d)
|
|
5,360
|
5,456,528
|
|
New Jersey Higher Education Student Assistance
Authority, RB, Series C, AMT, Subordinate, 4.25%,
12/01/50
|
|
2,935
|
2,511,675
|
|
Security
|
|
Par
(000)
|
Value
|
|
New Jersey (continued)
|
|
||
|
New Jersey Higher Education Student Assistance
Authority, Refunding RB, Series 1-B, AMT, 4.50%,
12/01/45
|
$
|
670
|
$ 676,760
|
|
New Jersey Housing & Mortgage Finance Agency, RB,
S/F Housing, Series M, Sustainability Bonds, 5.10%,
10/01/50
|
|
5,775
|
5,891,643
|
|
New Jersey Transportation Trust Fund Authority, RB
|
|
|
|
|
5.00%, 12/15/32(d)
|
|
1,490
|
1,698,131
|
|
Series A, 0.00%, 12/15/29(c)
|
|
7,530
|
6,754,640
|
|
Series AA, 5.00%, 06/15/45
|
|
1,350
|
1,350,670
|
|
Series AA, 5.00%, 06/15/46
|
|
600
|
600,250
|
|
Series AA, 5.00%, 06/15/50
|
|
8,835
|
9,168,901
|
|
Series AA, 5.25%, 06/15/50
|
|
2,590
|
2,734,849
|
|
Series BB, 5.00%, 06/15/46
|
|
6,200
|
6,507,172
|
|
Series BB, 4.00%, 06/15/50
|
|
7,500
|
6,893,258
|
|
Series C, (AGM), 0.00%, 12/15/35(c)
|
|
7,395
|
5,285,136
|
|
New Jersey Transportation Trust Fund Authority, RB,
CAB, Series A, 0.00%, 12/15/35(c)
|
|
1,600
|
1,143,505
|
|
New Jersey Turnpike Authority, RB, Series A, 5.25%,
01/01/55
|
|
8,355
|
8,919,215
|
|
Tobacco Settlement Financing Corp., Refunding RB
|
|
|
|
|
Series A, 5.00%, 06/01/35
|
|
4,440
|
4,580,379
|
|
Series A, 5.00%, 06/01/46
|
|
3,295
|
3,264,369
|
|
Sub-Series B, 5.00%, 06/01/46
|
|
11,825
|
11,495,985
|
|
Series A, AMT, Intermediate Lien, 5.25%, 06/01/46
|
|
11,280
|
11,301,712
|
|
|
|
|
117,845,206
|
|
New Mexico — 0.0%
|
|
||
|
City of Santa Fe New Mexico, RB, Series A, 5.00%,
05/15/44
|
|
595
|
589,842
|
|
New York — 13.2%
|
|
||
|
City of New York, GO, Series G-1, 5.25%, 02/01/53
|
|
1,550
|
1,619,719
|
|
Empire State Development Corp., RB, Series A,
5.00%, 03/15/46
|
|
6,000
|
6,343,432
|
|
Erie Tobacco Asset Securitization Corp., Refunding
RB, Series A, 5.00%, 06/01/45
|
|
5,895
|
4,791,625
|
|
Metropolitan Transportation Authority, RB, Series D-2,
Sustainability Bonds, 4.00%, 11/15/48
|
|
5,205
|
4,686,327
|
|
Metropolitan Transportation Authority, Refunding RB
|
|
|
|
|
Series C-1, Sustainability Bonds, 5.00%, 11/15/50
|
|
1,635
|
1,649,778
|
|
Series C-1, Sustainability Bonds, 5.25%, 11/15/55
|
|
2,415
|
2,451,515
|
|
Monroe County Industrial Development Corp.,
Refunding RB, Series A, 4.00%, 07/01/50
|
|
3,335
|
2,990,632
|
|
New York City Housing Development Corp., RB, M/F
Housing
|
|
|
|
|
Sustainability Bonds, (FHLMC), 5.00%, 05/01/56
|
|
10,000
|
10,039,716
|
|
Series A, Sustainability Bonds, (AGM), 4.70%,
08/01/54
|
|
5,205
|
5,149,710
|
|
Series A-1, Sustainability Bonds, 5.00%, 11/01/60
|
|
2,860
|
2,883,256
|
|
Series D, Sustainability Bonds, (FHLMC), 5.00%,
05/01/56
|
|
5,905
|
5,925,571
|
|
Series F, Sustainability Bonds, (AGM), 5.00%,
08/01/55
|
|
3,960
|
4,002,520
|
|
New York City Municipal Water Finance Authority, RB
|
|
|
|
|
Series AA-1, 5.25%, 06/15/52
|
|
5,600
|
5,886,677
|
|
Series BB, 5.25%, 06/15/55
|
|
1,540
|
1,622,079
|
|
New York City Municipal Water Finance Authority,
Refunding RB
|
|
|
|
|
Series DD, 4.13%, 06/15/46
|
|
795
|
772,175
|
|
Series DD, 4.13%, 06/15/47
|
|
1,255
|
1,203,042
|
|
Security
|
|
Par
(000)
|
Value
|
|
New York (continued)
|
|
||
|
New York City Transitional Finance Authority Future
Tax Secured Revenue, RB
|
|
|
|
|
Series B, 5.00%, 05/01/51
|
$
|
4,705
|
$ 4,842,732
|
|
Series A-1, Subordinate, 5.25%, 05/01/52
|
|
6,340
|
6,659,636
|
|
Series B, Subordinate, 5.00%, 05/01/46
|
|
2,480
|
2,601,909
|
|
Series F-1, Subordinate, 5.00%, 02/01/43
|
|
2,990
|
3,197,644
|
|
Series F-1, Subordinate, 4.00%, 02/01/51
|
|
6,800
|
6,211,042
|
|
Series H-1, Subordinate, 5.50%, 11/01/51
|
|
1,455
|
1,565,511
|
|
New York Counties Tobacco Trust IV, Refunding RB,
Series A, 6.25%, 06/01/41(b)
|
|
5,502
|
5,402,696
|
|
New York Counties Tobacco Trust VI, Refunding RB,
Series C, 4.00%, 06/01/51
|
|
1,000
|
710,537
|
|
New York Liberty Development Corp., Refunding RB
|
|
|
|
|
Class 2, 5.38%, 11/15/40(b)
|
|
1,760
|
1,761,148
|
|
Series A, Sustainability Bonds, (BAM), 3.00%,
11/15/51
|
|
11,315
|
8,241,595
|
|
Series A, Sustainability Bonds, 3.00%, 11/15/51
|
|
3,345
|
2,445,591
|
|
New York Power Authority, Refunding RB, Series A,
Sustainability Bonds, 4.00%, 11/15/55
|
|
5,385
|
4,822,251
|
|
New York State Dormitory Authority, RB, Series A,
4.00%, 03/15/47
|
|
1,575
|
1,466,141
|
|
New York State Dormitory Authority, Refunding RB
|
|
|
|
|
Class A, 5.25%, 05/01/54
|
|
690
|
713,606
|
|
Series A, 4.00%, 03/15/54
|
|
3,645
|
3,272,943
|
|
Series A-1, 5.00%, 03/15/45
|
|
5,610
|
5,949,610
|
|
New York Transportation Development Corp., ARB
|
|
|
|
|
AMT, 5.00%, 12/01/36
|
|
2,500
|
2,662,440
|
|
AMT, 5.63%, 04/01/40
|
|
3,555
|
3,764,003
|
|
Series A, AMT, 5.00%, 07/01/46
|
|
1,525
|
1,517,523
|
|
AMT, Sustainability Bonds, 6.00%, 06/30/59
|
|
1,775
|
1,871,639
|
|
AMT, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 6.00%, 06/30/60
|
|
4,155
|
4,438,236
|
|
New York Transportation Development Corp., RB
|
|
|
|
|
AMT, 5.00%, 10/01/35
|
|
5,110
|
5,336,692
|
|
AMT, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 5.25%, 06/30/60
|
|
11,645
|
11,794,815
|
|
AMT, Sustainability Bonds, 5.38%, 06/30/60
|
|
5,590
|
5,531,155
|
|
AMT, Sustainability Bonds, 5.50%, 06/30/60
|
|
25,040
|
25,195,949
|
|
New York Transportation Development Corp.,
Refunding RB, Series A, AMT, Sustainability Bonds,
5.50%, 12/31/60
|
|
7,615
|
7,696,624
|
|
Port Authority of New York & New Jersey, ARB,
Series 218, AMT, 5.00%, 11/01/49
|
|
8,465
|
8,604,275
|
|
Port Authority of New York & New Jersey, Refunding
ARB, 5.25%, 10/15/57
|
|
7,000
|
7,067,387
|
|
State of New York Mortgage Agency Homeowner
Mortgage Revenue, RB, S/F Housing, Series 266,
Sustainability Bonds, (AGM), 4.65%, 10/01/50
|
|
5,385
|
5,365,455
|
|
Triborough Bridge & Tunnel Authority Sales Tax
Revenue, RB
|
|
|
|
|
Series A, 5.25%, 05/15/52
|
|
1,625
|
1,703,672
|
|
Series A, 4.25%, 05/15/58
|
|
20,115
|
19,062,517
|
|
Series A, 4.50%, 05/15/63
|
|
4,500
|
4,402,831
|
|
Triborough Bridge & Tunnel Authority, RB, Series A-1,
4.00%, 11/15/54
|
|
715
|
638,967
|
|
Security
|
|
Par
(000)
|
Value
|
|
New York (continued)
|
|
||
|
Triborough Bridge & Tunnel Authority, Refunding RB,
Series C, 5.00%, 05/15/47
|
$
|
5,000
|
$ 5,193,530
|
|
Westchester Tobacco Asset Securitization Corp.,
Refunding RB, Sub-Series C, 5.13%, 06/01/51
|
|
1,160
|
1,007,342
|
|
|
|
|
244,737,418
|
|
North Carolina — 1.0%
|
|
||
|
North Carolina Housing Finance Agency, RB, S/F
Housing
|
|
|
|
|
Series 54-A, (BAM-TCRS), 4.70%, 07/01/50
|
|
2,935
|
2,934,795
|
|
Series 52-A, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 5.00%, 07/01/46
|
|
1,585
|
1,616,125
|
|
North Carolina Medical Care Commission, RB
|
|
|
|
|
5.13%, 10/01/56
|
|
2,210
|
2,218,550
|
|
5.25%, 11/01/56
|
|
3,890
|
3,907,769
|
|
Series A, 5.13%, 10/01/54
|
|
195
|
195,560
|
|
Red Oak Independent School District, RB, 5.00%,
02/01/49
|
|
6,820
|
7,408,594
|
|
|
|
|
18,281,393
|
|
North Dakota — 0.4%
|
|
||
|
North Dakota Housing Finance Agency, RB, S/F
Housing
|
|
|
|
|
Series A, Sustainability Bonds, 4.70%, 07/01/49
|
|
480
|
476,843
|
|
Series C, Sustainability Bonds, 4.75%, 07/01/49
|
|
5,470
|
5,472,931
|
|
Series C, Sustainability Bonds, 6.25%, 01/01/55
|
|
940
|
1,042,377
|
|
|
|
|
6,992,151
|
|
Ohio — 1.9%
|
|
||
|
Buckeye Tobacco Settlement Financing Authority,
Refunding RB, Series B-2, Class 2, 5.00%,
06/01/55
|
|
14,065
|
11,155,246
|
|
Columbus Regional Airport Authority, Refunding ARB,
Series A, AMT, 5.50%, 01/01/55
|
|
4,800
|
5,028,024
|
|
Columbus-Franklin County Finance Authority, RB, M/F
Housing, (AGM), 4.82%, 11/01/43
|
|
3,365
|
3,516,102
|
|
County of Hamilton Ohio, RB, Series CC, 5.00%,
11/15/49
|
|
1,130
|
1,231,273
|
|
Ohio Housing Finance Agency, RB, S/F Housing,
Series B, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.65%, 09/01/49
|
|
6,560
|
6,491,338
|
|
Ohio Turnpike & Infrastructure Commission, RB, CAB,
Series A-2, Junior Lien, 0.00%, 02/15/37(c)
|
|
10,000
|
6,870,365
|
|
State of Ohio, Refunding RB, Series A, (BAM-TCRS),
4.00%, 01/15/50
|
|
1,055
|
931,613
|
|
|
|
|
35,223,961
|
|
Oklahoma — 0.5%
|
|
||
|
Oklahoma Development Finance Authority, RB,
Series B, 5.50%, 08/15/52
|
|
560
|
558,426
|
|
Oklahoma Municipal Power Authority, Refunding RB,
Series A, (BAM-TCRS), 5.25%, 01/01/56
|
|
2,490
|
2,632,390
|
|
Oklahoma Turnpike Authority, RB
|
|
|
|
|
5.50%, 01/01/53
|
|
3,140
|
3,313,166
|
|
Series A, (HUD SECT 8), 4.25%, 01/01/55
|
|
2,030
|
1,942,317
|
|
Tulsa County Industrial Authority, Refunding RB,
5.25%, 11/15/37
|
|
450
|
454,966
|
|
|
|
|
8,901,265
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oregon — 0.7%
|
|
||
|
Clackamas County School District No. 12 North
Clackamas, GO, CAB(c)
|
|
|
|
|
Series A, (HUD SECT 8), 0.00%, 06/15/27(d)
|
$
|
345
|
$ 204,832
|
|
Series A, (AGM), 0.00%, 06/15/38
|
|
2,885
|
1,688,362
|
|
Port of Portland Oregon Airport Revenue, ARB,
Series 24B, AMT, 5.00%, 07/01/47
|
|
3,865
|
3,868,362
|
|
Port of Portland Oregon Airport Revenue, Refunding
ARB, series 29, AMT, Sustainability Bonds, 5.50%,
07/01/53
|
|
3,295
|
3,446,400
|
|
State of Oregon Housing & Community Services
Department, RB, M/F Housing, Series K1, (HUD
SECT 8), 4.33%, 11/01/43
|
|
4,110
|
4,046,982
|
|
|
|
|
13,254,938
|
|
Pennsylvania — 7.5%
|
|
||
|
Allegheny County Airport Authority, ARB
|
|
|
|
|
Series A, AMT, (FNMA), 5.50%, 01/01/48
|
|
6,750
|
7,090,177
|
|
Series A, AMT, 5.00%, 01/01/51
|
|
11,210
|
11,116,783
|
|
Series A, AMT, (FNMA), 4.00%, 01/01/56
|
|
1,275
|
1,097,415
|
|
Allegheny County Hospital Development Authority,
Refunding RB, Series A, (FHLMC), 5.00%, 04/01/47
|
|
4,095
|
4,151,018
|
|
City of Philadelphia Pennsylvania Water & Wastewater
Revenue, RB, Series A, 5.00%, 10/01/47
|
|
4,125
|
4,168,965
|
|
Lancaster County Hospital Authority, RB, 5.00%,
11/01/51
|
|
1,950
|
1,965,134
|
|
Mckeesport Area School District, Refunding GO,
(AGM), 0.00%, 10/01/31(c)(g)
|
|
500
|
413,470
|
|
Montgomery County Higher Education and Health
Authority, Refunding RB
|
|
|
|
|
4.00%, 09/01/51
|
|
1,115
|
948,019
|
|
Class B, 5.00%, 05/01/57
|
|
3,500
|
3,480,597
|
|
5.00%, 09/01/48
|
|
740
|
743,382
|
|
Pennsylvania Economic Development Financing
Authority, RB
|
|
|
|
|
5.00%, 06/30/42
|
|
7,190
|
7,192,643
|
|
AMT, 5.50%, 06/30/38
|
|
600
|
650,730
|
|
AMT, 5.50%, 06/30/40
|
|
1,000
|
1,075,521
|
|
AMT, 5.50%, 06/30/41
|
|
5,000
|
5,356,677
|
|
AMT, 5.75%, 06/30/48
|
|
4,335
|
4,535,699
|
|
AMT, 5.25%, 06/30/53
|
|
4,695
|
4,710,601
|
|
Pennsylvania Economic Development Financing
Authority, Refunding RB
|
|
|
|
|
Series A, 4.50%, 12/15/51
|
|
6,440
|
6,065,323
|
|
Series A, 5.25%, 12/15/51
|
|
5,905
|
6,158,675
|
|
AMT, 5.50%, 11/01/44
|
|
5,020
|
5,023,033
|
|
Pennsylvania Higher Educational Facilities Authority,
RB, 4.00%, 08/15/49
|
|
2,500
|
2,230,052
|
|
Pennsylvania Higher Educational Facilities Authority,
Refunding RB
|
|
|
|
|
5.50%, 08/15/55
|
|
610
|
653,847
|
|
Series B-1, (AGM), 5.00%, 11/01/51
|
|
1,935
|
1,971,671
|
|
Series B2, 4.38%, 11/01/54
|
|
3,770
|
3,436,960
|
|
Series B2, 5.50%, 11/01/54
|
|
5,230
|
5,417,679
|
|
Pennsylvania Housing Finance Agency, RB,
Series 2024-26FN, Class PT, 4.63%, 02/01/42
|
|
3,190
|
3,269,796
|
|
Pennsylvania Housing Finance Agency, RB, S/F
Housing, Series 145A, Sustainability Bonds, 4.75%,
10/01/49
|
|
19,595
|
19,604,390
|
|
Security
|
|
Par
(000)
|
Value
|
|
Pennsylvania (continued)
|
|
||
|
Pennsylvania Housing Finance Agency, Refunding RB,
S/F Housing
|
|
|
|
|
Series 142-A, Sustainability Bonds, 5.00%,
10/01/43
|
$
|
3,105
|
$ 3,265,330
|
|
Series 142-A, Sustainability Bonds, 5.00%,
10/01/50
|
|
2,280
|
2,310,714
|
|
Pennsylvania Turnpike Commission, RB
|
|
|
|
|
Series A-1, 5.00%, 12/01/41
|
|
1,325
|
1,327,453
|
|
Series C, 5.25%, 12/01/54
|
|
2,000
|
2,116,250
|
|
Series A, Subordinate, 5.00%, 12/01/44
|
|
6,000
|
6,209,009
|
|
Series B, Subordinate, 4.00%, 12/01/51
|
|
665
|
593,964
|
|
School District of Philadelphia, GOL
|
|
|
|
|
Series A, (AGM), 5.50%, 09/01/48
|
|
8,280
|
8,793,007
|
|
Series B, Sustainability Bonds, (AGM), 5.00%,
09/01/48
|
|
2,070
|
2,135,523
|
|
|
|
|
139,279,507
|
|
Puerto Rico — 4.0%
|
|
||
|
Commonwealth of Puerto Rico, GO
|
|
|
|
|
Series A-1, Restructured, 5.63%, 07/01/29
|
|
2,931
|
3,085,028
|
|
Series A-1, Restructured, 5.75%, 07/01/31
|
|
2,646
|
2,859,808
|
|
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB
|
|
|
|
|
Series A-1, Restructured, 4.75%, 07/01/53
|
|
9,408
|
8,969,876
|
|
Series A-1, Restructured, 5.00%, 07/01/58
|
|
37,893
|
36,805,660
|
|
Series A-2, Restructured, 4.54%, 07/01/53
|
|
500
|
461,716
|
|
Series A-2, Restructured, 4.78%, 07/01/58
|
|
9,499
|
9,049,601
|
|
Series A-2, Restructured, 4.33%, 07/01/40
|
|
1,074
|
1,061,833
|
|
Series B-1, Restructured, 4.75%, 07/01/53
|
|
1,271
|
1,211,811
|
|
Series B-2, Restructured, 4.78%, 07/01/58
|
|
1,746
|
1,663,396
|
|
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB, CAB, Series A-1, Restructured,
0.00%, 07/01/46(c)
|
|
27,586
|
9,832,850
|
|
|
|
|
75,001,579
|
|
Rhode Island — 0.5%
|
|
||
|
Central Falls Detention Facility Corp., Refunding RB,
7.25%, 07/15/35(e)(f)
|
|
4,155
|
1,620,450
|
|
Rhode Island Health and Educational Building Corp.,
RB, 5.00%, 11/01/53
|
|
6,955
|
7,089,592
|
|
|
|
|
8,710,042
|
|
South Carolina — 3.0%
|
|
||
|
Charleston County Airport District, ARB, Series A, AMT,
5.25%, 07/01/54
|
|
2,340
|
2,400,695
|
|
County of Berkeley South Carolina, SAB
|
|
|
|
|
4.25%, 11/01/40
|
|
800
|
765,186
|
|
4.38%, 11/01/49
|
|
1,180
|
1,042,157
|
|
Miami-Dade County Educational Facilities Authority,
RB, Series A, 5.50%, 11/01/54
|
|
5,530
|
5,816,102
|
|
Patriots Energy Group Financing Agency, RB,
Series A1, 5.25%, 10/01/54(a)
|
|
8,210
|
8,802,480
|
|
South Carolina Jobs-Economic Development Authority,
RB
|
|
|
|
|
5.00%, 01/01/55(b)
|
|
3,900
|
3,264,276
|
|
7.50%, 08/15/62(b)
|
|
1,860
|
1,664,199
|
|
Series A, 5.50%, 11/01/48
|
|
1,715
|
1,829,877
|
|
Series A, 5.50%, 11/01/50
|
|
4,720
|
4,998,586
|
|
Series A, 4.50%, 11/01/54
|
|
6,690
|
6,444,304
|
|
South Carolina Jobs-Economic Development Authority,
Refunding RB, Series A, 4.25%, 05/01/48
|
|
1,615
|
1,484,186
|
|
South Carolina Public Service Authority, RB, Series A,
4.00%, 12/01/55
|
|
5,000
|
4,384,999
|
|
Security
|
|
Par
(000)
|
Value
|
|
South Carolina (continued)
|
|
||
|
South Carolina Public Service Authority, Refunding RB
|
|
|
|
|
Series B, 5.00%, 12/01/46
|
$
|
1,925
|
$ 2,018,063
|
|
Series B, (AGM), 5.00%, 12/01/54
|
|
1,580
|
1,624,408
|
|
South Carolina State Housing Finance & Development
Authority, RB, S/F Housing
|
|
|
|
|
Series B, 4.60%, 07/01/49
|
|
2,195
|
2,161,021
|
|
Series B, (AGM), 5.00%, 07/01/50
|
|
6,045
|
6,115,926
|
|
South Carolina State Housing Finance & Development
Authority, Refunding RB, S/F Housing, Series A,
4.95%, 07/01/53
|
|
470
|
472,561
|
|
|
|
|
55,289,026
|
|
Tennessee — 3.1%
|
|
||
|
Knox County Health Educational & Housing Facility
Board, RB
|
|
|
|
|
Series A-1, (AGM), 5.50%, 07/01/54
|
|
860
|
903,559
|
|
Series A-1, (BAM), 5.50%, 07/01/59
|
|
910
|
949,097
|
|
Memphis-Shelby County Airport Authority, ARB,
Series A, AMT, 5.00%, 07/01/49
|
|
5,540
|
5,590,926
|
|
Metropolitan Government Nashville & Davidson County
Health & Educational Fcilities Board, RB, 5.25%,
05/01/48
|
|
1,125
|
1,169,051
|
|
Metropolitan Government Nashville & Davidson County
Health & Educational Fcilities Board, Refunding RB
|
|
|
|
|
5.25%, 10/01/58
|
|
8,660
|
8,180,699
|
|
Series A, 5.00%, 10/01/45
|
|
1,000
|
965,099
|
|
Metropolitan Government of Nashville & Davidson
County TN Water & Sewer Revenue, Refunding RB,
5.25%, 07/01/55
|
|
4,860
|
5,143,646
|
|
Tennergy Corp., RB, Series A, 5.50%, 10/01/53(a)
|
|
5,795
|
6,158,097
|
|
Tennessee Energy Acquisition Corp., RB, Series A,
5.00%, 05/01/52(a)
|
|
20,140
|
21,349,224
|
|
Tennessee Energy Acquisition Corp., Refunding RB,
Series A-1, 5.00%, 05/01/53(a)
|
|
7,270
|
7,482,805
|
|
|
|
|
57,892,203
|
|
Texas — 13.9%
|
|
||
|
Alamo Heights Independent School District, GO, (BAM-
TCRS), 4.00%, 02/01/51
|
|
2,760
|
2,528,399
|
|
Arlington Higher Education Finance Corp., RB(b)(e)(f)
|
|
|
|
|
7.50%, 04/01/62
|
|
3,230
|
1,615,000
|
|
7.88%, 11/01/62
|
|
2,790
|
1,674,000
|
|
Bexar Management And Development Corp., RB, M/F
Housing, (BAM), 4.61%, 07/01/44
|
|
4,100
|
4,146,028
|
|
Canutillo Independent School District, GO, Series A,
(GNMA), 4.00%, 02/15/49
|
|
2,850
|
2,664,735
|
|
Celina Independent School District, GO, (AGM),
5.00%, 02/15/47
|
|
4,530
|
4,725,658
|
|
City of Austin Texas Airport System Revenue, ARB
|
|
|
|
|
Series A, 5.00%, 11/15/41
|
|
3,250
|
3,273,946
|
|
AMT, 5.25%, 11/15/47
|
|
5,000
|
5,180,060
|
|
City of Austin Texas Airport System Revenue,
Refunding ARB, Series B, 11/15/56(h)
|
|
11,610
|
11,921,056
|
|
City of Austin Texas Water & Wastewater System
Revenue, Refunding RB, 5.00%, 11/15/53
|
|
5,000
|
5,157,901
|
|
City of Corpus Christi Texas Utility System Revenue,
Refunding RB, 4.13%, 07/15/53
|
|
2,905
|
2,657,260
|
|
City of El Paso Texas Water & Sewer Revenue,
Refunding RB, 5.25%, 03/01/49
|
|
2,495
|
2,621,712
|
|
City of Galveston Texas Wharves & Terminal Revenue,
ARB
|
|
|
|
|
Series A, AMT, 1st Lien, 5.50%, 08/01/43
|
|
600
|
635,382
|
|
Security
|
|
Par
(000)
|
Value
|
|
Texas (continued)
|
|
||
|
City of Galveston Texas Wharves & Terminal Revenue,
ARB (continued)
|
|
|
|
|
Series A, AMT, 1st Lien, 5.50%, 08/01/44
|
$
|
600
|
$ 631,074
|
|
City of Houston Texas Airport System Revenue, ARB
|
|
|
|
|
Series B, AMT, 5.50%, 07/15/36
|
|
500
|
536,879
|
|
Series B, AMT, 5.50%, 07/15/37
|
|
1,405
|
1,502,612
|
|
Series B, AMT, 5.50%, 07/15/39
|
|
1,600
|
1,691,553
|
|
City of Houston Texas Airport System Revenue,
Refunding ARB
|
|
|
|
|
Series A, AMT, Subordinate Lien, (SAW), 5.25%,
07/01/48
|
|
6,535
|
6,786,544
|
|
Series A, AMT, Subordinate Lien, 5.50%, 07/01/55
|
|
5,005
|
5,276,487
|
|
City of Houston Texas Airport System Revenue,
Refunding RB
|
|
|
|
|
AMT, 5.00%, 07/01/29
|
|
1,450
|
1,451,535
|
|
Series A, AMT, 5.00%, 07/01/27
|
|
965
|
979,729
|
|
Sub-Series A, AMT, 4.00%, 07/01/46
|
|
3,610
|
3,256,194
|
|
Sub-Series A, AMT, 4.00%, 07/01/48
|
|
12,080
|
10,736,192
|
|
City of Houston Texas Hotel Occupancy Tax & Special
Revenue, Refunding RB, Series C, 1st Lien, 5.50%,
09/01/58
|
|
8,355
|
8,771,226
|
|
City of Houston Texas, GOL
|
|
|
|
|
Series A, 5.25%, 03/01/49
|
|
850
|
902,539
|
|
Series A, 4.13%, 03/01/51
|
|
3,125
|
2,867,911
|
|
City of San Antonio Texas Electric & Gas Systems
Revenue, Refunding RB, 5.00%, 02/01/47
|
|
3,415
|
3,443,059
|
|
Conroe Independent School District, GO, (PSF),
4.00%, 02/15/50
|
|
4,675
|
4,296,487
|
|
County of Harris Texas Toll Road Revenue, Refunding
RB
|
|
|
|
|
Series A, 1st Lien, 4.00%, 08/15/49
|
|
4,310
|
3,918,961
|
|
Series A, 1st Lien, 4.00%, 08/15/54
|
|
6,385
|
5,620,799
|
|
Crowley Independent School District, GO, (AGM),
4.25%, 02/01/53
|
|
190
|
179,973
|
|
Dallas Fort Worth International Airport, Refunding ARB,
Series A-1, AMT, 5.50%, 11/01/50
|
|
1,700
|
1,800,528
|
|
Dallas Independent School District, Refunding GO,
Series B, (AGM), 4.00%, 02/15/55
|
|
1,975
|
1,781,148
|
|
Denton Independent School District, GO, (PSF),
5.00%, 08/15/48
|
|
3,105
|
3,234,676
|
|
Eagle Mountain & Saginaw Independent School
District, GO, (FNMA), 4.00%, 08/15/54
|
|
965
|
866,281
|
|
Fort Bend Independent School District, Refunding GO,
Series A, (PSF), 4.00%, 08/15/49
|
|
3,415
|
3,130,415
|
|
Greenwood Independent School District, GO, (FNMA),
4.00%, 02/15/54
|
|
1,030
|
919,121
|
|
Harris County Cultural Education Facilities Finance
Corp., Refunding RB, Class A, 4.13%, 07/01/52
|
|
3,135
|
2,803,251
|
|
Harris County-Houston Sports Authority, Refunding RB,
Series A, Senior Lien, 0.00%, 11/15/38(c)
|
|
5,000
|
2,552,684
|
|
Hidalgo County Regional Mobility Authority, RB, CAB,
Series A, 0.00%, 12/01/42(c)
|
|
2,500
|
1,121,518
|
|
Longview Independent School District, GO, (GTD),
4.00%, 02/15/49
|
|
1,580
|
1,457,691
|
|
Lower Colorado River Authority, Refunding RB,
(FHLMC, FNMA, GNMA), 5.00%, 05/15/49
|
|
5,445
|
5,612,814
|
|
Mansfield Independent School District, GO, (AGM),
5.00%, 02/15/50
|
|
4,500
|
4,687,799
|
|
Security
|
|
Par
(000)
|
Value
|
|
Texas (continued)
|
|
||
|
Mesquite Housing Finance Corp., RB, M/F Housing,
Series A, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.53%, 02/01/44
|
$
|
5,100
|
$ 5,121,539
|
|
Midland County Fresh Water Supply District No. 1, RB,
CAB, Series A, 0.00%, 09/15/27(c)(d)
|
|
16,780
|
9,370,828
|
|
Midland County Fresh Water Supply District No. 1,
Refunding RB, Series A, 0.00%, 09/15/27(c)(d)
|
|
6,850
|
4,253,951
|
|
New Hope Cultural Education Facilities Finance Corp.,
RB
|
|
|
|
|
Series A, 5.50%, 08/15/49
|
|
6,075
|
6,581,745
|
|
Series A, 5.00%, 08/15/50(b)
|
|
1,660
|
1,422,818
|
|
North Texas Tollway Authority, RB(d)
|
|
|
|
|
Series B, 0.00%, 09/01/31(c)
|
|
4,110
|
2,208,810
|
|
Series C, Convertible, 6.75%, 09/01/31
|
|
10,000
|
11,898,340
|
|
North Texas Tollway Authority, Refunding RB
|
|
|
|
|
4.25%, 01/01/49
|
|
2,055
|
1,892,893
|
|
Series B, 5.00%, 01/01/43
|
|
6,205
|
6,256,263
|
|
Northwest Independent School District, GO, (AGM),
5.25%, 02/15/55
|
|
5,370
|
5,639,622
|
|
Plano Independent School District, GO, 5.00%,
02/15/42
|
|
1,540
|
1,652,120
|
|
Port Authority of Houston of Harris County Texas, ARB
|
|
|
|
|
5.00%, 10/01/51
|
|
3,740
|
3,831,761
|
|
1st Lien, 5.00%, 10/01/53
|
|
2,775
|
2,846,463
|
|
Prosper Independent School District, GO, (BAM-
TCRS), 4.00%, 02/15/54
|
|
2,475
|
2,244,234
|
|
San Antonio Housing Trust Public Facility Corp., RB,
Series 2024-11FN, Class PT, 4.45%, 04/01/43
|
|
710
|
707,071
|
|
Spring Branch Independent School District, GO,
(AGM), 4.00%, 02/01/48
|
|
2,575
|
2,415,100
|
|
Tarrant County Cultural Education Facilities Finance
Corp., Refunding RB, 5.00%, 10/01/49
|
|
1,190
|
1,184,886
|
|
Tarrant County Hospital District, GOL, 4.25%,
08/15/53
|
|
4,475
|
4,144,327
|
|
Tarrant Regional Water District, RB, 4.25%, 09/01/55
|
|
4,845
|
4,432,003
|
|
Texas City Industrial Development Corp., RB,
Series 2012, 4.13%, 12/01/45
|
|
950
|
852,484
|
|
Texas Department of Housing & Community Affairs,
RB, S/F Housing, Series A, (AGM), 5.13%,
01/01/54
|
|
960
|
992,839
|
|
Texas Municipal Gas Acquisition & Supply Corp. III,
Refunding RB, 5.00%, 12/15/32
|
|
8,210
|
8,802,475
|
|
Texas State University System, Refunding RB, 4.00%,
03/15/49
|
|
8,615
|
7,741,308
|
|
Texas Transportation Commission State Highway
249 System, RB, CAB(c)
|
|
|
|
|
0.00%, 08/01/35
|
|
730
|
495,990
|
|
0.00%, 08/01/36
|
|
405
|
261,136
|
|
0.00%, 08/01/37
|
|
530
|
323,390
|
|
0.00%, 08/01/38
|
|
1,125
|
648,745
|
|
0.00%, 08/01/41
|
|
1,950
|
944,880
|
|
0.00%, 08/01/44
|
|
1,645
|
678,209
|
|
0.00%, 08/01/45
|
|
3,575
|
1,389,912
|
|
Texas Water Development Board, RB
|
|
|
|
|
4.75%, 10/15/55
|
|
5,635
|
5,643,001
|
|
Series A, 4.38%, 10/15/59
|
|
9,915
|
9,368,324
|
|
|
|
|
257,866,284
|
|
Utah — 1.6%
|
|
||
|
Black Desert Public Infrastructure District, SAB, 5.63%,
12/01/53(b)
|
|
1,100
|
1,118,754
|
|
Security
|
|
Par
(000)
|
Value
|
|
Utah (continued)
|
|
||
|
City of Salt Lake City Utah Airport Revenue, ARB
|
|
|
|
|
Series A, AMT, 5.00%, 07/01/43
|
$
|
3,710
|
$ 3,768,510
|
|
Series A, AMT, 5.00%, 07/01/47
|
|
4,030
|
4,033,995
|
|
Series A, AMT, 5.00%, 07/01/51
|
|
7,205
|
7,253,756
|
|
Series A, AMT, 5.50%, 07/01/55
|
|
1,440
|
1,517,016
|
|
Downtown Revitalization Public Infrastructure District,
RB
|
|
|
|
|
Series A, 1st Lien, (AGM), 5.50%, 06/01/55
|
|
5,020
|
5,374,476
|
|
Series B, 2nd Lien, (FNMA), 5.50%, 06/01/55
|
|
1,785
|
1,911,044
|
|
Utah Charter School Finance Authority, RB, 5.00%,
06/15/39(b)
|
|
185
|
181,514
|
|
Utah Charter School Finance Authority, Refunding RB
|
|
|
|
|
5.25%, 06/15/37(b)
|
|
205
|
200,925
|
|
5.00%, 06/15/40(b)
|
|
335
|
331,632
|
|
(GNMA), 4.00%, 04/15/42
|
|
600
|
552,975
|
|
5.00%, 06/15/55(b)
|
|
935
|
818,355
|
|
Utah Housing Corp., RB, S/F Housing, Series E,
(GNMA), 4.70%, 01/01/50
|
|
2,820
|
2,820,007
|
|
|
|
|
29,882,959
|
|
Vermont — 0.0%
|
|
||
|
Vermont Student Assistance Corp., RB, Series A, AMT,
4.25%, 06/15/32
|
|
285
|
276,478
|
|
Virginia — 1.2%
|
|
||
|
Ballston Quarter Community Development Authority,
TA, Series A-1, 5.50%, 03/01/46
|
|
293
|
289,794
|
|
Ballston Quarter Community Development Authority,
TA, CAB, Series A-2, 7.13%, 03/01/59
|
|
702
|
651,127
|
|
Fairfax County Industrial Development Authority, RB,
4.13%, 05/15/54
|
|
4,125
|
3,811,610
|
|
Hampton Roads Transportation Accountability
Commission, RB, Series A, Senior Lien, 4.00%,
07/01/55
|
|
4,950
|
4,402,113
|
|
Henrico County Economic Development Authority,
Refunding RB, Series A, 5.00%, 11/01/48
|
|
2,710
|
2,762,373
|
|
Tobacco Settlement Financing Corp., Refunding RB,
Series B-1, 5.00%, 06/01/47
|
|
6,415
|
5,366,768
|
|
Virginia Housing Development Authority, RB, M/F
Housing, Series A, 4.60%, 09/01/50
|
|
3,750
|
3,751,435
|
|
Virginia Housing Development Authority, RB, S/F
Housing
|
|
|
|
|
Series E-2, 4.40%, 10/01/44
|
|
145
|
145,643
|
|
Series E-2, 4.55%, 10/01/49
|
|
405
|
402,610
|
|
|
|
|
21,583,473
|
|
Washington — 0.8%
|
|
||
|
Port of Seattle Washington, ARB,, Series B, AMT,
Intermediate Lien, 5.00%, 10/01/50
|
|
680
|
692,251
|
|
Port of Seattle Washington, Refunding ARB, Series C,
AMT, Intermediate Lien, 5.00%, 08/01/46
|
|
1,815
|
1,860,945
|
|
Vancouver Housing Authority, RB, M/F Housing,
5.00%, 08/01/40
|
|
3,580
|
3,686,819
|
|
Washington Health Care Facilities Authority, Refunding
RB, Series A, 5.50%, 09/01/55
|
|
1,645
|
1,731,063
|
|
Washington State Housing Finance Commission, RB,
M/F Housing(a)
|
|
|
|
|
Series A-1, 0.00%, 11/20/41
|
|
5,455
|
5,259,220
|
|
Series 2, Class 1, Sustainability Bonds, 4.22%,
03/01/50
|
|
795
|
775,292
|
|
|
|
|
14,005,590
|
|
Security
|
|
Par
(000)
|
Value
|
|
Wisconsin — 1.9%
|
|
||
|
Public Finance Authority, RB
|
|
|
|
|
Class A, 5.00%, 06/15/51(b)
|
$
|
555
|
$ 460,260
|
|
Series A, 5.00%, 06/01/36(b)
|
|
100
|
92,809
|
|
Series A, 5.00%, 07/01/40(b)
|
|
750
|
736,952
|
|
Series A, 5.00%, 06/01/51(b)
|
|
320
|
246,400
|
|
Series A, 5.00%, 06/01/61(b)
|
|
405
|
297,868
|
|
Series A-1, 4.50%, 01/01/35(b)
|
|
515
|
504,924
|
|
AMT, 5.75%, 06/30/60
|
|
5,345
|
5,475,137
|
|
AMT, 6.50%, 06/30/60
|
|
3,085
|
3,395,789
|
|
AMT, 5.75%, 12/31/65
|
|
1,150
|
1,175,498
|
|
AMT, 6.50%, 12/31/65
|
|
12,270
|
13,496,676
|
|
Public Finance Authority, Refunding RB, 5.00%,
09/01/49(b)
|
|
825
|
773,407
|
|
Wisconsin Health & Educational Facilities Authority, RB
|
|
|
|
|
Class A, 5.50%, 02/15/54
|
|
3,145
|
3,269,573
|
|
Series A, 5.75%, 08/15/54
|
|
460
|
474,590
|
|
Wisconsin Housing & Economic Development Authority
Home Ownership Revenue, RB, S/F Housing
|
|
|
|
|
Series A, Sustainability Bonds, (AGM), 4.85%,
09/01/43
|
|
700
|
720,858
|
|
Series A, Sustainability Bonds, (PSF), 4.75%,
09/01/50
|
|
4,465
|
4,482,838
|
|
|
|
|
35,603,579
|
|
Total Municipal Bonds — 126.9%
(Cost: $2,284,357,726)
|
2,354,505,972
|
||
|
Municipal Bonds Transferred to Tender Option Bond Trusts(i)
|
|||
|
Alabama(a) — 2.5%
|
|
||
|
Black Belt Energy Gas District, RB
|
|
|
|
|
Series C, 5.50%, 10/01/54(j)
|
|
7,093
|
7,644,391
|
|
Series C-1, 5.25%, 02/01/53
|
|
23,827
|
24,963,872
|
|
Energy Southeast A Cooperative District, RB,
Series B-1, 5.75%, 04/01/54
|
|
4,095
|
4,468,154
|
|
Southeast Energy Authority A Cooperative District, RB,
Series A, 5.25%, 01/01/54
|
|
9,350
|
9,831,120
|
|
|
|
|
46,907,537
|
|
California — 0.5%
|
|
||
|
City of Los Angeles Department of Airports, Refunding
ARB, Series A, AMT, Sustainability Bonds, 5.25%,
05/15/50
|
|
8,583
|
9,024,374
|
|
Colorado — 0.4%
|
|
||
|
City & County of Denver Colorado Airport System
Revenue, Refunding ARB, Series A, AMT, 5.50%,
11/15/53
|
|
6,872
|
7,160,533
|
|
Connecticut — 0.8%
|
|
||
|
Connecticut Housing Finance Authority, Refunding RB,
S/F Housing, Series F-1, Sustainability Bonds,
4.75%, 11/15/49(a)
|
|
15,000
|
15,077,850
|
|
District of Columbia — 0.7%
|
|
||
|
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB, Series A, 5.00%,
10/01/49(a)
|
|
3,556
|
3,582,063
|
|
Washington Metropolitan Area Transit Authority
Dedicated Revenue, RB, Series A, 2nd Lien, 5.50%,
07/15/60
|
|
9,060
|
9,677,163
|
|
|
|
|
13,259,226
|
|
Security
|
|
Par
(000)
|
Value
|
|
Florida — 7.4%
|
|
||
|
City of Fort Lauderdale Florida Water & Sewer
Revenue, RB, Series B, 5.50%, 09/01/53
|
$
|
3,345
|
$ 3,601,642
|
|
City of Tallahassee, RB, Series 2025-ZF, 5.25%,
10/01/50(a)
|
|
3,537
|
3,725,458
|
|
City of Tampa Florida Water & Wastewater System
Revenue, RB
|
|
|
|
|
Series A, Sustainability Bonds, 5.00%, 10/01/52
|
|
10,000
|
10,379,230
|
|
Series A, Sustainability Bonds, 5.25%, 10/01/57
|
|
10,000
|
10,485,352
|
|
County of Miami-Dade Florida Aviation Revenue,
Refunding ARB, Series A, AMT, 5.25%, 10/01/50
|
|
7,540
|
7,793,538
|
|
County of Miami-Dade Florida Transit System, RB,
5.00%, 07/01/50
|
|
10,000
|
10,241,445
|
|
County of Seminole Florida Sales Tax Revenue,
Refunding RB, Series B, 5.25%, 10/01/31(a)
|
|
10,500
|
11,385,393
|
|
Greater Orlando Aviation Authority, ARB, AMT,
Subordinate, 5.25%, 10/01/51
|
|
12,077
|
12,525,774
|
|
Hillsborough County Aviation Authority, ARB, Class B,
AMT, 5.50%, 10/01/54(a)
|
|
20,170
|
21,337,127
|
|
Hillsborough County Industrial Development Authority,
Refunding RB, Series C, 5.25%, 11/15/49
|
|
16,875
|
17,813,158
|
|
Miami-Dade County Expressway Authority, Refunding
RB, Series A, (AGM), 5.00%, 07/01/35
|
|
2,100
|
2,101,972
|
|
Tampa Bay Water, RB, Series A, 5.25%, 10/01/54(j)
|
|
24,765
|
26,313,341
|
|
|
|
|
137,703,430
|
|
Georgia — 2.3%
|
|
||
|
City of Atlanta Georgia Department of Aviation, ARB,
Series B-1, AMT, Sustainability Bonds, 5.50%,
07/01/55
|
|
10,160
|
10,760,491
|
|
County of DeKalb Georgia Water & Sewerage
Revenue, RB, Series A, 5.00%, 10/01/55(j)
|
|
7,198
|
7,475,758
|
|
Georgia Housing & Finance Authority, RB, S/F
Housing, Series A, 4.65%, 12/01/50(a)(j)
|
|
8,117
|
8,046,566
|
|
Main Street Natural Gas, Inc., RB, Series C, 5.00%,
09/01/53(a)(j)
|
|
2,970
|
3,145,009
|
|
Main Street Natural Gas, Inc., Refunding RB,
Series E-1, 5.00%, 12/01/53(a)(j)
|
|
12,635
|
13,476,711
|
|
|
|
|
42,904,535
|
|
Idaho — 0.4%
|
|
||
|
Idaho Housing & Finance Association, RB, Series A,
5.25%, 08/15/48(j)
|
|
6,825
|
7,246,832
|
|
Illinois — 2.4%
|
|
||
|
Chicago O’Hare International Airport, Refunding ARB,
Series A, AMT, Senior Lien, 5.50%, 01/01/59(j)
|
|
10,000
|
10,324,359
|
|
Chicago Transit Authority Sales Tax Receipts Fund,
Refunding RB, Series A, 5.00%, 12/01/49(j)
|
|
10,258
|
10,493,603
|
|
City of Chicago Illinois Wastewater Transmission
Revenue, RB, Series A, 2nd Lien, (FHLMC, FNMA,
GNMA), 5.25%, 01/01/58
|
|
9,205
|
9,489,889
|
|
Illinois Finance Authority, Refunding RB, Series A,
5.00%, 08/15/51
|
|
10,785
|
10,841,041
|
|
Regional Transportation Authority, RB, (AGM), 6.50%,
07/01/26
|
|
3,540
|
3,560,935
|
|
|
|
|
44,709,827
|
|
Indiana — 0.6%
|
|
||
|
Indiana Finance Authority, RB, Series A, 5.00%,
10/01/53
|
|
10,290
|
10,531,757
|
|
Maryland — 0.5%
|
|
||
|
Maryland Stadium Authority, RB, 5.00%, 06/01/54
|
|
8,376
|
8,639,567
|
|
Security
|
|
Par
(000)
|
Value
|
|
Massachusetts — 0.8%
|
|
||
|
Commonwealth of Massachusetts, GOL, Series A,
5.00%, 05/01/48
|
$
|
2,438
|
$ 2,544,287
|
|
Massachusetts Port Authority, ARB, Series E, AMT,
5.00%, 07/01/51
|
|
11,235
|
11,337,084
|
|
|
|
|
13,881,371
|
|
Michigan — 0.2%
|
|
||
|
Michigan State Housing Development Authority, RB,
M/F Housing, Series A, 4.05%, 10/01/48(a)
|
|
4,897
|
4,391,064
|
|
Missouri — 0.5%
|
|
||
|
Health & Educational Facilities Authority of the State of
Missouri, RB, 4.00%, 06/01/53(j)
|
|
5,660
|
4,918,944
|
|
Missouri Housing Development Commission, RB, S/F
Housing, Series E, 4.60%, 11/01/49(a)
|
|
4,334
|
4,287,817
|
|
|
|
|
9,206,761
|
|
Nebraska — 1.2%
|
|
||
|
Nebraska Investment Finance Authority, RB, S/F
Housing, Series E, Sustainability Bonds, (AGM),
4.80%, 09/01/54
|
|
4,086
|
4,097,937
|
|
Omaha Public Power District, RB, Series A, 5.00%,
02/01/46
|
|
11,970
|
12,508,336
|
|
Omaha Public Power District, Refunding RB, Series B,
5.25%, 02/01/48(a)
|
|
6,080
|
6,476,031
|
|
|
|
|
23,082,304
|
|
New Jersey — 0.7%
|
|
||
|
New Jersey Transportation Trust Fund Authority, RB,
Series AA, 5.00%, 06/15/55
|
|
13,380
|
13,757,262
|
|
New York — 7.8%
|
|
||
|
City of New York, GO, Series E, 5.25%, 08/01/50
|
|
10,750
|
11,271,705
|
|
Empire State Development Corp., RB, Series A,
5.00%, 03/15/50
|
|
10,000
|
10,366,524
|
|
Hudson Yards Infrastructure Corp., Refunding RB,
Series A, 5.00%, 02/15/42
|
|
12,550
|
12,692,715
|
|
Metropolitan Transportation Authority Dedicated Tax
Fund, Refunding RB, Series B-1, Sustainability
Bonds, 5.00%, 11/15/49
|
|
7,061
|
7,346,123
|
|
New York City Municipal Water Finance Authority, RB
|
|
|
|
|
Series AA, Subordinate, 5.00%, 06/15/51
|
|
5,278
|
5,471,667
|
|
Series AA-1, 5.25%, 06/15/52
|
|
4,020
|
4,225,793
|
|
New York City Transitional Finance Authority Future
Tax Secured Revenue, RB
|
|
|
|
|
Series B, 5.25%, 05/01/55
|
|
7,732
|
8,097,635
|
|
Series C, 5.25%, 05/01/48
|
|
3,674
|
3,871,511
|
|
Series F-1, 5.25%, 02/01/53(j)
|
|
10,000
|
10,419,302
|
|
Series H-1, Subordinate, 5.25%, 11/01/48
|
|
11,900
|
12,627,758
|
|
New York State Dormitory Authority, Refunding RB
|
|
|
|
|
Series A, 4.00%, 03/15/47
|
|
10,000
|
9,326,284
|
|
Series A, 5.00%, 03/15/55
|
|
12,500
|
12,905,863
|
|
Triborough Bridge & Tunnel Authority, RB, Series A,
5.00%, 11/15/51
|
|
11,000
|
11,318,174
|
|
Triborough Bridge & Tunnel Authority, Refunding RB
|
|
|
|
|
Series A, 5.00%, 05/15/47
|
|
9,160
|
9,514,547
|
|
Series B-1, Sustainability Bonds, 5.25%, 05/15/54
|
|
8,475
|
8,906,969
|
|
Series C, 4.13%, 05/15/52
|
|
7,020
|
6,477,289
|
|
|
|
|
144,839,859
|
|
Ohio — 0.6%
|
|
||
|
Columbus Regional Airport Authority, Refunding ARB,
Series A, AMT, 5.50%, 01/01/55(j)
|
|
10,000
|
10,475,049
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oklahoma — 0.2%
|
|
||
|
Oklahoma Turnpike Authority, RB, 5.50%, 01/01/53
|
$
|
2,999
|
$ 3,164,023
|
|
Oregon — 0.6%
|
|
||
|
Port of Portland Oregon Airport Revenue, Refunding
ARB, Series 29, AMT, Sustainability Bonds, 5.50%,
07/01/48
|
|
11,300
|
11,940,964
|
|
Pennsylvania — 0.2%
|
|
||
|
Pennsylvania Turnpike Commission, Refunding RB,
Series B, 5.25%, 12/01/52
|
|
3,030
|
3,159,778
|
|
Rhode Island — 0.2%
|
|
||
|
Rhode Island Housing & Mortgage Finance Corp., RB,
S/F Housing, Series 82-A, Sustainability Bonds,
(AGM), 4.60%, 10/01/49
|
|
3,256
|
3,218,013
|
|
South Carolina — 0.5%
|
|
||
|
Patriots Energy Group Financing Agency, Refunding
RB, Series B-1, 5.25%, 02/01/54(a)(j)
|
|
8,578
|
9,206,862
|
|
Tennessee — 0.5%
|
|
||
|
Tennessee Energy Acquisition Corp., RB, Series A,
5.00%, 05/01/52(a)(j)
|
|
8,280
|
8,777,139
|
|
Texas — 5.4%
|
|
||
|
City of Houston Texas Airport System Revenue,
Refunding ARB
|
|
|
|
|
Series A, AMT, Subordinate Lien, (AGM), 5.25%,
07/01/53
|
|
2,510
|
2,584,503
|
|
Series A, AMT, Subordinate Lien, 5.50%, 07/01/55
|
|
9,575
|
10,094,378
|
|
City of San Antonio Texas Electric & Gas Systems
Revenue, Refunding RB, Series A, 5.50%,
02/01/50(j)
|
|
14,188
|
15,133,005
|
|
County of Bexar Texas, GOL, Series 2025-ZF, 5.00%,
06/15/49(a)
|
|
3,120
|
3,245,248
|
|
Crowley Independent School District, GO, (AGM),
5.25%, 02/01/53
|
|
4,033
|
4,218,586
|
|
North Texas Municipal Water District, RB, Series 2025-
ZF, 5.00%, 06/01/50(a)(j)
|
|
7,776
|
8,053,886
|
|
Permanent University Fund - Texas A&M University
System, Refunding RB, Series A, 5.00%, 07/01/54
|
|
10,000
|
10,410,886
|
|
San Antonio Water System, Refunding RB, Series A,
Junior Lien, 5.25%, 05/15/48
|
|
6,340
|
6,727,898
|
|
Tarrant County Cultural Education Facilities Finance
Corp., RB, 5.00%, 11/15/51
|
|
14,034
|
14,433,288
|
|
Terrell Independent School District, GO, (AGM), 5.25%,
08/01/55(j)
|
|
6,260
|
6,625,273
|
|
Texas Water Development Board, RB
|
|
|
|
|
4.80%, 10/15/52
|
|
2,475
|
2,496,727
|
|
Series A, 4.38%, 10/15/59
|
|
18,000
|
17,007,542
|
|
|
|
|
101,031,220
|
|
Washington — 2.1%
|
|
||
|
City of Seattle WA Municipal Light & Power Revenue,
Refunding RB, 5.00%, 10/01/54
|
|
4,500
|
4,667,450
|
|
Port of Seattle Washington, ARB, series B, AMT,
Intermediate Lien, 5.50%, 10/01/50
|
|
14,950
|
15,968,494
|
|
Security
|
|
Par
(000)
|
Value
|
|
Washington (continued)
|
|
||
|
Port of Seattle Washington, Refunding ARB, Series B,
AMT, Intermediate Lien, 5.25%, 07/01/49
|
$
|
8,040
|
$ 8,379,104
|
|
State of Washington, GO, Series 2024-A, 5.00%,
08/01/48
|
|
10,000
|
10,449,112
|
|
|
|
|
39,464,160
|
|
Total Municipal Bonds Transferred to Tender Option Bond
Trusts — 40.0%
(Cost: $729,726,665)
|
742,761,297
|
||
|
|
|
Shares
|
|
|
Warrants
|
|||
|
Construction & Engineering — 0.0%
|
|
||
|
Brightline West, (Expires 11/26/35, Strike Price USD
5.00)(f)(k)
|
|
54,542
|
95,448
|
|
Total Warrants — 0.0%
(Cost: $ — )
|
95,448
|
||
|
Total Long-Term Investments — 166.9%
(Cost: $3,014,084,391)
|
3,097,362,717
|
||
|
Short-Term Securities
|
|||
|
Money Market Funds — 3.7%
|
|
||
|
BlackRock Liquidity Funds, MuniCash, Institutional
Shares, 3.31%(l)(m)
|
|
68,316,195
|
68,323,027
|
|
Total Short-Term Securities — 3.7%
(Cost: $68,322,686)
|
68,323,027
|
||
|
Total Investments — 170.6%
(Cost: $3,082,407,077)
|
3,165,685,744
|
||
|
Liabilities in Excess of Other Assets — (20.4)%
|
(378,506,924
)
|
||
|
Liability for TOB Trust Certificates, Including Interest Expense and
Fees Payable — (26.0)%
|
(482,562,668
)
|
||
|
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —
(24.2)%
|
(449,527,623
)
|
||
|
Net Assets Applicable to Common Shares — 100.0%
|
$ 1,855,088,529
|
||
|
(a)
|
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate
and
spread if published and available.
|
|
(b)
|
Security exempt from registration pursuant to Rule 144A under the Securities Act of
1933,
as amended. These securities may be resold in transactions exempt from registration
to
qualified institutional investors.
|
|
(c)
|
Zero-coupon bond.
|
|
(d)
|
U.S. Government securities held in escrow, are used to pay interest on this security
as
well as to retire the bond in full at the date indicated, typically at a premium to
par.
|
|
(e)
|
Issuer filed for bankruptcy and/or is in default.
|
|
(f)
|
Non-income producing security.
|
|
(g)
|
Security is collateralized by municipal bonds or U.S. Treasury obligations.
|
|
(h)
|
When-issued security.
|
|
(i)
|
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates
received by the Fund. These bonds serve as collateral in a secured borrowing.
|
|
(j)
|
All or a portion of the security is subject to a recourse agreement. The aggregate
maximum potential amount the Fund could ultimately be required to pay under the
agreements, which expire between February 1, 2029 to May 1, 2052, is $109,413,436.
|
|
(k)
|
Security is valued using significant unobservable inputs and is classified as Level
3 in the
fair value hierarchy.
|
|
(l)
|
Affiliate of the Fund.
|
|
(m)
|
Annualized 7-day yield as of period end.
|
|
Affiliated Issuer
|
Value at
07/31/25
|
Purchases
at Cost
|
Proceeds
from Sales
|
Net
Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Value at
04/30/26
|
Shares
Held at
04/30/26
|
Income
|
Capital Gain
Distributions
from
Underlying
Funds
|
|
BlackRock Liquidity Funds, MuniCash, Institutional
Shares
|
$ 26,665,508
|
$ 41,657,519
(a)
|
$ —
|
$ —
|
$ —
|
$ 68,323,027
|
68,316,195
|
$ 544,646
|
$ —
|
|
(a)
|
Represents net amount purchased (sold).
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Long-Term Investments
|
|
|
|
|
|
Municipal Bonds
|
$ —
|
$ 2,354,505,972
|
$ —
|
$ 2,354,505,972
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts
|
—
|
742,761,297
|
—
|
742,761,297
|
|
Warrants
|
—
|
—
|
95,448
|
95,448
|
|
Short-Term Securities
|
|
|
|
|
|
Money Market Funds
|
68,323,027
|
—
|
—
|
68,323,027
|
|
|
$68,323,027
|
$3,097,267,269
|
$95,448
|
$3,165,685,744
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Liabilities
|
|
|
|
|
|
TOB Trust Certificates
|
$—
|
$(479,253,904
)
|
$—
|
$(479,253,904
)
|
|
VRDP Shares at Liquidation Value
|
—
|
(848,100,000
)
|
—
|
(848,100,000
)
|
|
|
$—
|
$(1,327,353,904
)
|
$—
|
$(1,327,353,904
)
|
|
Portfolio Abbreviation
|
|
|
AGM
|
Assured Guaranty Municipal Corp.
|
|
AGM-CR
|
AGM Insured Custodial Receipt
|
|
AMBAC
|
AMBAC Assurance Corp.
|
|
AMT
|
Alternative Minimum Tax
|
|
ARB
|
Airport Revenue Bonds
|
|
BAM
|
Build America Mutual Assurance Co.
|
|
BAM-TCRS
|
Build America Mutual Assurance Co. - Transferable
Custodial Receipts
|
|
CAB
|
Capital Appreciation Bonds
|
|
COP
|
Certificates of Participation
|
|
CR
|
Custodian Receipt
|
|
FHLMC
|
Federal Home Loan Mortgage Corp.
|
|
Portfolio Abbreviation (continued)
|
|
|
FNMA
|
Federal National Mortgage Association
|
|
GNMA
|
Government National Mortgage Association
|
|
GO
|
General Obligation Bonds
|
|
GOL
|
General Obligation Ltd.
|
|
GTD
|
Guaranteed
|
|
HUD SECT 8
|
U.S. Department of Housing and Urban Development
Section 8
|
|
M/F
|
Multi-Family
|
|
NPFGC
|
National Public Finance Guarantee Corp.
|
|
PSF
|
Permanent School Fund
|
|
RB
|
Revenue Bonds
|
|
S/F
|
Single-Family
|