Please wait
Portfolio
of
Investments
January
31,
2025
NAD
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
167.3%
(100.0%
of
Total
Investments)
INVESTMENT
COMPANIES
-
0.0%
(0.0%
of
Total
Investments)
–
8,812
BlackRock
MuniHoldings
Fund
Inc
$
106,713
32,524
Invesco
Quality
Municipal
Income
Trust
322,638
TOTAL
INVESTMENT
COMPANIES
(Cost
$530,611)
429,351
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
4940261545
MUNICIPAL
BONDS
-
167.3%
(100.0%
of
Total
Investments)
4940261545
ALABAMA
-
3.1%
(1.8%
of
Total
Investments)
$
5,000,000
Alabama
Special
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Ascension
Health,
Series
2016C
5.000
%
11/15/46
5,029,289
5,000,000
Alabama
State
Port
Authority,
Docks
Facilities
Revenue
Bonds,
Refunding
Series
2017A
-
AGM
Insured,
(AMT)
5.000
10/01/33
5,103,942
5,455,000
Alabama
State
Port
Authority,
Docks
Facilities
Revenue
Bonds,
Refunding
Series
2017A
-
AGM
Insured,
(AMT)
5.000
10/01/34
5,561,338
5,550,000
Alabama
State
Port
Authority,
Docks
Facilities
Revenue
Bonds,
Refunding
Series
2017A
-
AGM
Insured,
(AMT)
5.000
10/01/35
5,650,453
3,315,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2024C,
(Mandatory
Put
7/01/31)
5.000
05/01/55
3,514,236
3,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Series
2023
Sub
B-2,
(Mandatory
Put
12/01/30)
5.250
12/01/53
3,228,452
5,000,000
Homewood
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
CHF-Horizons
I,
LLC
Recreation
Center
Project
at
Samford
University
Series
2024A
5.500
10/01/49
5,240,928
3,250,000
Homewood
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
CHF-Horizons
I,
LLC
Recreation
Center
Project
at
Samford
University
Series
2024A
5.500
10/01/54
3,384,206
2,455,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024
5.500
10/01/53
2,633,455
2,255,000
Limestone
County
Water
&
Sewer
Authority,
Alabama,
Water
and
Sewer
Revenue
Bonds,
Series
2022
5.000
12/01/45
2,376,500
2,500,000
Madison
Water
and
Wastewater
Board,
Alabama,
Water
and
Sewer
Revenue
Bonds,
Series
2023
5.250
12/01/53
2,708,065
3,500,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024B,
(AMT)
4.750
12/01/54
3,439,471
7,590,000
Pike
Road,
Alabama,
General
Obligation
Warrants,
Series
2023
5.000
03/01/52
7,960,866
5,000,000
(a)
Southeast
Alabama
Gas
Supply
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Project
1,
Refunding
Series
2024A,
(Mandatory
Put
4/01/32),
(UB)
5.000
08/01/54
5,325,057
6,665,000
(a)
Southeast
Alabama
Gas
Supply
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Project
2,
Refunding
Series
2024B,
(Mandatory
Put
5/01/32),
(UB)
5.000
06/01/49
7,080,062
10,000,000
Southeast
Energy
Authority,
Alabama,
A
Cooperative
District
Energy
Supply
Revenue
Bonds
Series
2024A
5.000
11/01/35
10,493,519
1,000,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
3,
Fixed
Rate
Series
2022A-1,
(Mandatory
Put
12/01/29)
5.500
01/01/53
1,065,778
5,815,000
(a)
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds,
Cooperative
District
Energy
Supply
Series
2025A,
(Mandatory
Put
6/01/35),
(UB)
5.000
01/01/56
6,105,424
4,165,000
(b)
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A
5.250
05/01/44
4,232,683
TOTAL
ALABAMA
90,133,724
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALASKA
-
0.1%
(0.0%
of
Total
Investments)
$
1,000,000
Alaska
Industrial
Development
and
Export
Authority,
Power
Revenue
Bonds,
Snettisham
Hydroelectric
Project,
Refunding
Series
2015,
(AMT)
5.000
%
01/01/28
$
1,003,293
1,075,000
Alaska
Industrial
Development
and
Export
Authority,
Power
Revenue
Bonds,
Snettisham
Hydroelectric
Project,
Refunding
Series
2015,
(AMT)
5.000
01/01/29
1,078,273
300,000
Alaska
Industrial
Development
and
Export
Authority,
Power
Revenue
Bonds,
Snettisham
Hydroelectric
Project,
Refunding
Series
2015,
(AMT)
5.000
01/01/31
300,824
TOTAL
ALASKA
2,382,390
ARIZONA
-
2.6%
(1.6%
of
Total
Investments)
3,815,000
Arizona
Board
of
Regents,
University
of
Arizona,
Speed
Revenue
Bonds,
Stimulus
Plan
for
Economic
and
Educational
Development,
Refunding
Series
2020A
4.000
08/01/44
3,701,938
1,000,000
Arizona
Industrial
Development
Authority
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2023
5.375
07/01/53
1,008,061
11,795,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Refunding
Series
2016A
4.000
01/01/36
11,852,660
6,500,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Junior
Lien
Series
2019B,
(AMT)
5.000
07/01/49
6,599,475
15,935,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Series
2017A,
(AMT)
5.000
07/01/42
16,144,035
7,000,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Revenue
Bonds,
Civic
Plaza
Expansion
Project,
Series
2005B
-
FGIC
Insured
5.500
07/01/39
8,434,435
1,000,000
Pinal
County
Electrical
District
4,
Arizona,
Electric
System
Revenue
Bonds,
Refunding Series
2015
-
AGM
Insured
4.000
12/01/38
1,000,908
500,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5.500
12/01/29
537,557
24,765,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5.000
12/01/37
26,698,084
1,000,000
(b)
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2024
5.000
06/15/54
975,876
TOTAL
ARIZONA
76,953,029
ARKANSAS
-
0.6%
(0.4%
of
Total
Investments)
5,020,000
(b)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
(AMT)
5.450
09/01/52
5,182,770
6,550,000
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2023,
(AMT)
5.700
05/01/53
6,864,284
3,500,000
(b)
Arkansas
Development
Finance
Authority,
Charter
School
Revenue
Bonds,
Academy
of
Math
and
Science
-
Little
Rock
Project
Series
2024A
7.000
07/01/59
3,355,323
2,000,000
(b)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
(AMT)
4.500
09/01/49
1,985,229
1,000,000
(b)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
(AMT)
4.750
09/01/49
1,000,934
TOTAL
ARKANSAS
18,388,540
CALIFORNIA
-
10.6%
(6.3%
of
Total
Investments)
2,665,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C
-
AGM
Insured
5.000
10/01/52
2,820,097
3,500,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C
-
AGM
Insured
5.450
10/01/52
1,955,725
2,945,000
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C
-
AGM
Insured
0.000
09/01/27
2,713,444
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
7,150,000
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C
-
AGM
Insured
0.000
%
09/01/28
$
6,368,851
2,455,000
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C
-
AGM
Insured
0.000
09/01/32
1,883,180
105,000
(c)
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C
-
AGM
Insured,
(ETM)
0.000
09/01/35
73,457
95,000
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C
-
AGM
Insured
0.000
09/01/35
64,160
1,055,000
Brisbane
School
District,
San
Mateo
County,
California,
General
Obligation
Bonds,
Election
2003
Series
2005
-
AGM
Insured
0.000
07/01/35
716,326
60,000
(c)
Byron
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2007B,
(ETM)
0.000
08/01/32
46,866
235,000
(c)
Byron
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2007B
-
SYNCORA
GTY
Insured,
(ETM)
0.000
08/01/32
183,557
1,405,000
Byron
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2007B
-
SYNCORA
GTY
Insured
0.000
08/01/32
1,054,734
3,685,000
Calexico
Unified
School
District,
Imperial
County,
California,
General
Obligation
Bonds,
Election
of
2004
Series
2005B
-
FGIC
Insured
0.000
08/01/31
2,917,004
4,505,000
Calexico
Unified
School
District,
Imperial
County,
California,
General
Obligation
Bonds,
Election
of
2004
Series
2005B
-
FGIC
Insured
0.000
08/01/33
3,290,262
4,495,000
(a)
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023G,
(Mandatory
Put
4/01/30),
(UB)
5.250
11/01/54
4,759,608
10,000,000
(a)
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024A,
(Mandatory
Put
4/01/32),
(UB)
5.000
05/01/54
10,667,986
5,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024G,
(Mandatory
Put
8/01/32)
5.000
11/01/55
5,267,833
9,000,000
(b)
California
Community
Housing
Agency,
Workforce
Housing
Revenue
Bonds,
Annadel
Apartments,
Series
2019A
5.000
04/01/49
7,797,091
2,500,000
(b)
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Norton
Science
&
Language
Academy
Project,
Series
2021
4.000
07/01/61
1,954,724
2,855,000
(c)
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B,
(Pre-
refunded
11/15/26)
5.000
11/15/46
2,974,543
10,000,000
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B
5.000
11/15/46
10,160,987
16,665,000
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2017A
5.000
11/15/48
17,008,774
5,000,000
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
Adventist
Health
Energy
Projects,
Series
2024A
5.250
07/01/54
5,224,493
5,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
(AMT)
5.000
12/31/43
5,038,728
3,250,000
California
Municipal
Finance
Authority,
Reveue
Bonds,
Community
Medical
Centers,
Series
2017A
5.000
02/01/47
3,262,260
2,930,000
(b)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
CIty
Charter
School
Obligated
Group,
Series
2016A
5.000
06/01/52
2,771,335
3,410,000
(b)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Russell
Westbrook
Obligated
Group,
Series
2021A
4.000
06/01/51
2,694,705
1,500,000
(b)
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Alliance
for
College-Ready
Public
Schools
Project,
Series
2016C
5.000
07/01/46
1,509,630
500,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5.250
12/01/44
500,225
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
3,550,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5.500
%
12/01/54
$
3,551,477
1,000,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5.000
12/01/46
1,005,131
17,715,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5.250
12/01/56
17,817,481
10,237
(d),(e)
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A
5.750
07/01/30
10,237
28,037
(d),(e)
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A
5.500
07/01/39
28,037
4,890,000
Clovis
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
Series
2006B
-
NPFG
Insured
0.000
08/01/26
4,674,872
1,000,000
Coachella
Valley
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Series
2005A
-
FGIC
Insured
0.000
08/01/30
830,841
1,000,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021A-2
4.000
12/01/58
748,639
3,010,000
El
Camino
Community
College
District,
California,
General
Obligation
Bonds,
Election
of
2002
Series
2012C
0.000
08/01/25
2,966,799
3,500,000
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A
-
AGM
Insured
0.000
01/15/34
2,532,391
9,930,000
(c)
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Series
2015A,
(Pre-refunded
6/01/25)
5.000
06/01/45
10,008,365
3,500,000
(c)
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2005A
-
AGM
Insured,
(ETM)
0.000
06/01/26
3,363,877
1,260,000
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
Certificates
of
Participation,
Capital
Project,
Series
2007
-
AGM
Insured
0.000
09/01/35
863,436
5,240,000
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2005
-
AGM
Insured
0.000
08/01/30
4,410,459
2,500,000
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2007
-
FGIC
Insured
0.000
08/01/32
1,948,552
5,000,000
Inland
Empire
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007C-1.Turbo
Capital
Appreciation
0.000
06/01/36
2,351,942
1,045,000
Lake
Tahoe
Unified
School
District,
El
Dorado
County,
California,
General
Obligation
Bonds,
Series
2001B
-
NPFG
Insured
0.000
08/01/31
839,442
9,140,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Lien
Series
2015D,
(AMT)
5.000
05/15/41
9,157,231
40,000
(c)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D,
(Pre-refunded
11/15/31),
(AMT)
5.000
05/15/46
43,943
12,835,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D,
(AMT)
5.000
05/15/46
13,234,294
5,955,000
(f)
Mount
San
Antonio
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2008,
Series
2013A
0.000
08/01/43
5,870,092
2,700,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009A
7.000
11/01/34
3,318,697
2,200,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009C
6.500
11/01/39
2,718,156
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,170,000
Ontario
Redevelopment
Financing
Authority,
San
Bernardino
County,
California,
Revenue
Bonds,
Redevelopment
Project
1,
Refunding
Series
1995
-
NPFG
Insured
7.400
%
08/01/25
$
1,189,683
4,930,000
Patterson
Joint
Unified
School
District,
Stanislaus
County,
California,
General
Obligation
Bonds,
2008
Election
Series
2009B
-
AGM
Insured
0.000
08/01/42
2,375,716
6,000,000
(c)
Placentia-Yorba
Linda
Unified
School
District,
Orange
County,
California,
Certificates
of
Participation,
Series
2006
-
FGIC
Insured,
(ETM)
0.000
10/01/34
4,296,968
2,000,000
Poway
Unified
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
School
Facilities
Improvement
District
2007-1,
Series
2011A
0.000
08/01/41
1,040,652
5,000,000
Rialto
Unified
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
2010
Election
Series
2011A
-
AGM
Insured
7.350
08/01/41
6,095,126
5,000,000
Riverside
County
Asset
Leasing
Corporation,
California,
Leasehold
Revenue
Bonds,
Riverside
County
Hospital
Project,
Series
1997
-
NPFG
Insured
0.000
06/01/25
4,949,625
4,615,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Jurupa
Valley
Project
Area,
Series
2011B
0.000
10/01/38
2,645,732
10,990,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B,
(AMT)
5.000
07/01/46
11,334,484
10,175,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2019A,
(AMT)
5.000
05/01/49
10,301,595
4,945,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2016B,
(AMT)
5.000
05/01/41
4,976,627
10,000,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2017A,
(AMT)
5.000
05/01/42
10,100,944
11,000,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E,
(AMT)
5.000
05/01/45
11,201,462
12,285,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E,
(AMT)
5.000
05/01/50
12,423,895
735,000
(b)
San
Francisco
City
and
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2016-1
Treasure
Island
Improvement
Area
2,
Series
2023A
5.000
09/01/43
764,615
635,000
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Junior
Lien
Series
2014B
5.250
01/15/44
635,300
5,000,000
San
Jose,
California,
Airport
Revenue
Bonds,
Refunding
Series
2017A,
(AMT)
5.000
03/01/41
5,063,706
5,000,000
San
Jose,
California,
Airport
Revenue
Bonds,
Refunding
Series
2017A,
(AMT)
5.000
03/01/47
5,030,244
14,985,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
1997
Election
Series
2012G
-
AGM
Insured
0.000
08/01/40
7,778,660
6,660,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Refunding
Series
2015
0.000
08/01/43
2,535,716
2,460,000
Santee
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
2006,
Series
2008D
-
AGC
Insured
0.000
08/01/33
1,842,228
1,145,000
Southern
Kern
Unified
School
District,
Kern
County,
California,
General
Obligation
Bonds,
Series
2006C
-
AGM
Insured
0.000
11/01/30
948,392
1,175,000
Southern
Kern
Unified
School
District,
Kern
County,
California,
General
Obligation
Bonds,
Series
2010B
-
AGM
Insured
0.000
11/01/35
794,382
2,410,000
Victor
Elementary
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
Series
2002A
-
FGIC
Insured
0.000
08/01/26
2,302,280
3,750,000
(f)
Wiseburn
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2011B
-
AGM
Insured
0.000
08/01/36
4,225,265
TOTAL
CALIFORNIA
312,828,273
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
-
14.7%
(8.8%
of
Total
Investments)
$
2,285,000
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2019
5.000
%
12/01/51
$
2,154,567
4,350,000
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2021
4.375
12/01/52
3,677,056
3,000,000
Anthem
West
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2015
-
BAM
Insured
5.000
12/01/35
3,042,160
2,000,000
Arvada,
Colorado,
Water
Enterprise
Revenue
Bonds,
Series
2022
4.000
12/01/48
1,919,896
1,000,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
5.000
12/01/39
1,002,185
4,195,000
(c)
Boulder
Larimer
&
Weld
Counties
School
District
RE-1J
Saint
Vrain
Valley,
Colorado,
General
Obligation
Bonds,
Series
2016C,
(Pre-refunded
12/15/26)
4.000
12/15/34
4,292,725
5,500,000
Brighton,
Colorado,
Water
Activity
Enterprise
Revenue
Bonds,
Water
System
Project,
Series
2022
5.000
06/01/47
5,770,563
1,456,000
(b)
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5.000
12/01/29
1,459,602
2,165,000
Colorado
Bridge
and
Tunnel
Enterprise,
Colorado,
Senior
Infrastructure
Revenue
Bonds,
Series
2024A
-
AGM
Insured
5.500
12/01/54
2,412,976
6,314,000
Colorado
Crossing
Metropolitan
District
2,
Colorado
Springs,
California,
General
Obligation
Bonds,
Limited
Tax
Refunding
Series
2020A-1
5.000
12/01/47
6,128,905
1,500,000
Colorado
Crossing
Metropolitan
District
2,
Colorado
Springs,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2020A-1
5.000
12/01/50
1,433,366
2,945,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Community
Leadership
Academy,
Inc.
Second
Campus
Project,
Series
2013
7.350
08/01/43
2,950,445
1,715,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Flagstaff
Academy
Project,
Refunding
Series
2016
3.625
08/01/46
1,408,049
1,000,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Peak-to-Peak
Charter
School,
Refunding
Series
2014
5.000
08/15/30
1,000,959
3,915,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Weld
County
School
District
6
-
Frontier
Academy,
Refunding
&
Improvement
Series
2016
3.250
06/01/46
2,978,862
545,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
University
Corporation
for
Atmospheric
Research
Project,
Refunding
Series
2017
3.625
09/01/31
546,771
1,200,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
University
of
Denver,
Series
2017A
4.000
03/01/36
1,202,891
1,600,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
University
of
Denver,
Series
2017A
4.000
03/01/37
1,602,707
5,460,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2019A
4.000
11/15/43
5,305,301
17,905,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2021A
4.000
11/15/46
17,091,760
11,090,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2021A
4.000
11/15/50
10,234,052
4,600,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Christian
Living
Neighborhoods
Project,
Refunding
Series
2016
5.000
01/01/37
4,621,346
5,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
5.000
08/01/44
5,092,621
5,395,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
4.000
08/01/49
4,869,750
10,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
-
BAM
Insured
4.000
08/01/49
9,128,747
2,725,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A
5.500
11/01/47
2,946,173
2,300,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A
5.250
11/01/52
2,428,376
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
2,670,000
(c)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013A,
(Pre-refunded
6/01/25)
5.000
%
06/01/28
$
2,687,458
6,425,000
(c)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013A,
(Pre-refunded
6/01/25)
5.000
06/01/40
6,467,011
1,390,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Frasier
Meadows
Project,
Refunding
&
Improvement
Series
2017A
5.250
05/15/47
1,401,177
5,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Intermountain
Healthcare,
Series
2022A
5.000
05/15/52
5,249,416
2,445,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Intermountain
Healthcare,
Series
2024A
5.000
05/15/54
2,562,559
3,785,000
(c)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Parkview
Medical
Center,
Series
2020A,
(Pre-refunded
9/01/30)
4.000
09/01/50
4,036,539
4,535,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sanford
Health,
Series
2019A
5.000
11/01/44
4,676,615
3,300,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
SCL
Health
System,
Refunding
Series
2019A
4.000
01/01/37
3,340,218
3,100,000
Colorado
High
Performance
Transportation
Enterprise,
C-470
Express
Lanes
Revenue
Bonds,
Senior
Lien
Series
2017
5.000
12/31/56
3,037,091
950,000
(c)
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017C,
(Pre-refunded
3/01/28)
-
BAM
Insured
5.000
03/01/43
1,011,547
710,000
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017C
-
BAM
Insured
5.000
03/01/43
729,227
2,360,000
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017E
4.000
03/01/43
2,308,154
3,420,000
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2020R
4.000
03/15/45
3,307,462
4,000,000
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2021S
4.000
03/15/41
3,989,779
7,250,000
(c)
Commerce
City,
Colorado,
Sales
and
Use
Tax
Revenue
Bonds,
Series
2016,
(Pre-refunded
8/01/26)
5.000
08/01/46
7,486,140
9,090,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0.000
12/01/31
5,268,248
4,250,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT)
4.125
11/15/53
3,894,391
8,250,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT)
5.500
11/15/53
8,772,025
3,400,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022B
5.250
11/15/53
3,656,855
2,790,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022D,
(AMT)
5.750
11/15/45
3,059,034
5,000,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022D,
(AMT)
5.000
11/15/53
5,144,016
17,000,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT)
5.000
12/01/43
17,294,918
11,750,000
(a)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
5.000
12/01/48
11,889,087
9,040,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT)
5.250
12/01/48
9,241,280
4,095,000
Denver
City
and
County,
Colorado,
Dedicated
Tax
Revenue
Bonds,
Current
Interest
Series
2018A-1
5.000
08/01/48
4,170,196
2,005,000
Denver
City
and
County,
Colorado,
Special
Facilities
Airport
Revenue
Bonds,
United
Airlines,
Inc.
Project,
Refunding
Series
2017,
(AMT)
5.000
10/01/32
2,005,676
5,130,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5.000
12/01/30
5,233,489
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,900,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5.000
%
12/01/36
$
3,949,707
3,000,000
Denver
Gateway
Center
Metropolitan
District,
In
the
City
and
County
of
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2018A
5.625
12/01/48
2,926,718
385,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A
0.000
09/01/35
259,721
150,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A
0.000
09/01/37
91,779
75,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A
0.000
09/01/38
43,521
20,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A
0.000
09/01/39
10,958
110,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A
0.000
09/01/41
53,634
18,380,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
1997B
-
NPFG
Insured
0.000
09/01/25
18,060,306
1,045,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0.000
09/01/29
895,667
2,175,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0.000
09/01/30
1,797,416
25,050,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0.000
09/01/31
19,910,078
23,305,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0.000
09/01/32
17,772,780
100,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0.000
09/01/33
73,077
12,500,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2006A
-
NPFG
Insured
0.000
09/01/38
6,397,212
385,000
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A
-
NPFG
Insured
0.000
09/01/28
341,989
60,000,000
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A
-
NPFG
Insured
0.000
03/01/36
39,479,448
2,200,000
Eagle
River
Water
and
Sanitation
District,
Eagle
County,
Colorado,
Enterprise
Wastewater
Revenue
Bonds,
Improvement
Series
2020A
-
AGM
Insured
4.000
12/01/49
2,109,651
8,000,000
Ebert
Metropolitan
District,
Denver
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2018A-1
-
BAM
Insured
5.000
12/01/43
8,243,178
965,000
Erie
Highlands
Metropolitan
District
2,
Weld
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2018A
5.250
12/01/48
969,330
3,550,000
(b)
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A
6.750
12/01/34
3,471,828
2,000,000
Firestone,
Colorado,
Water
Enterprise
Revenue
Bones,
Series
2020
-
BAM
Insured
4.000
12/01/45
1,928,987
3,935,000
Flying
Horse
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2020A
-
AGM
Insured
4.000
12/01/50
3,643,466
2,545,000
Future
Legends
Sports
Park
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds
Series
2022A
and
Subordinate
Limited
Tax
General
Obligation
Bonds
Series
2022B
6.000
12/01/52
2,393,656
1,305,000
Goldsmith
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2021
-
AGM
Insured
4.000
12/01/51
1,214,786
3,130,000
(b)
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2024
5.500
12/01/44
3,114,392
1,000,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5.125
12/01/50
967,569
1,347,000
Meadowbrook
Crossing
Metropolitan
District,
EL
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2020A
5.250
12/01/49
1,347,861
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,500,000
Meridian
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Series
2023
-
AGM
Insured
4.375
%
12/01/53
$
1,483,676
1,860,000
(c)
Metropolitan
State
University
of
Denver,
Colorado,
Institutional
Enterprise
Revenue
Bonds,
Aerospace
and
Engineering
Sciences
Building
Project,
Series
2016,
(Pre-refunded
12/01/25)
4.000
12/01/40
1,878,689
1,750,000
Midtown
at
Clear
Creek
Metropolitan
District,
Adams
County,
Colorado,
General
Obligation
Bonds,
Refunding
Limited
Tax
Series
2023A
-
BAM
Insured
5.000
12/01/53
1,846,298
9,520,000
Northern
Colorado
Water
Conservancy
District
Building
Corporation,
Certificates
of
Participation,
Refunding
Series
2021
4.000
07/01/46
9,247,937
3,250,000
Northern
Colorado
Water
Conservancy
District
Building
Corporation,
Certificates
of
Participation,
Refunding
Series
2021
4.000
07/01/51
3,099,925
1,565,000
Park
70
Metropolitan
District,
Aurora,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Refunding
&
Improvement
Series
2016
5.000
12/01/36
1,580,283
2,100,000
Park
70
Metropolitan
District,
Aurora,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Refunding
&
Improvement
Series
2016
5.000
12/01/46
2,088,191
8,000,000
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Series
2017A
5.000
12/01/46
8,056,270
2,235,000
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Series
2019A
-
AGM
Insured
4.000
12/01/38
2,245,587
5,300,000
(b)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5.000
12/01/51
4,581,337
700,000
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds, Colorado
Springs
Utilities,
Series
2008
6.500
11/15/38
838,365
750,000
Thompson
Crossing
Metropolitan
District
2,
Johnstown,
Larimer
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Series
2016B
-
AGM
Insured
5.000
12/01/36
774,443
1,050,000
Traditions
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2016
-
BAM
Insured
5.000
12/01/32
1,085,545
1,000,000
Traditions
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2016
-
BAM
Insured
4.125
12/01/37
1,004,397
1,500,000
Trails
at
Crowfoot
Metropolitan
District
3,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2024A
4.250
12/01/54
1,439,415
500,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
5.000
12/01/51
396,041
2,000,000
Vista
Ridge
Metropolitan
District,
In
the
Town
of
Erie,
Weld
County,
Colorado,
General
Obligation
Refunding
Bonds,
Series
2016A
-
BAM
Insured
4.000
12/01/36
2,012,971
6,225,000
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6.750
12/01/52
6,055,137
7,700,000
(b)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2024A-2
8.000
12/01/54
4,491,207
TOTAL
COLORADO
434,296,848
CONNECTICUT
-
1.4%
(0.8%
of
Total
Investments)
2,135,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Hartford
HealthCare
Issue,
Series
2021A
4.000
07/01/51
1,916,248
850,000
(b)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
McLean
Affiliates,
Series
2020A
5.000
01/01/45
775,886
5,355,000
(a)
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Social
Series
2024A,
(UB)
4.600
11/15/49
5,377,251
14,775,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2018A
5.000
01/01/34
15,489,243
6,410,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2018A
5.000
01/01/37
6,670,632
6,000,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2018A
5.000
01/01/38
6,224,841
3,730,000
University
of
Connecticut,
General
Obligation
Bonds,
Series
2020A
5.000
02/15/41
3,934,399
TOTAL
CONNECTICUT
40,388,500
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DELAWARE
-
0.6%
(0.3%
of
Total
Investments)
$
5,550,000
Delaware
Economic
Development
Authority
Retirement
Communities,
Revenue
Bonds,
ACTS
Retirement-Life
Communities
Series
2023B
5.250
%
11/15/53
$
5,722,441
800,000
Delaware
Health
Facilities
Authroity,
Revenue
Bonds,
Beebe
Medical
Center
Project,
Series
2018
5.000
06/01/48
804,455
3,000,000
Delaware
Health
Facilities
Authroity,
Revenue
Bonds,
Beebe
Medical
Center
Project,
Series
2018
5.000
06/01/50
3,011,070
7,255,000
Delaware
Transportation
Authority,
Revenue
Bonds,
US
301
Project,
Series
2015
5.000
06/01/55
7,263,446
TOTAL
DELAWARE
16,801,412
DISTRICT
OF
COLUMBIA
-
2.7%
(1.6%
of
Total
Investments)
250,000
District
of
Columbia
Housing
Finance
Agency,
GNMA
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
1988E-4,
(AMT)
6.375
06/01/26
250,546
51,000,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A
0.000
06/15/46
13,523,384
2,000,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B
4.000
10/01/44
1,897,925
5,000,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B
5.000
10/01/47
5,114,502
3,000,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B
4.000
10/01/49
2,764,497
5,000,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
Second
Senior
Lien
Series
2022A
-
AGM
Insured
4.000
10/01/52
4,600,365
2,000,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B
-
AGC
Insured
0.000
10/01/36
1,279,789
5,000,000
(c)
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009C,
(Pre-refunded
10/01/26)
-
AGC
Insured
6.500
10/01/41
5,301,325
15,800,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2018A,
(AMT)
5.000
10/01/43
16,073,774
5,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2019A,
(AMT)
5.000
10/01/49
5,074,035
8,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2021A,
(AMT)
5.000
10/01/46
8,198,732
7,400,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2023A,
(AMT)
5.250
10/01/53
7,728,886
3,485,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5.500
10/01/54
3,741,958
4,000,000
Washington
Metropolitan
Area
Transit
Authority,
Second
Lien
Dedicated
Revenue
Bonds,
Sustainability-
Climate
Transition,
Series
2024A
5.250
07/15/59
4,311,914
TOTAL
DISTRICT
OF
COLUMBIA
79,861,632
FLORIDA
-
10.7%
(6.4%
of
Total
Investments)
1,480,000
Atlantic
Beach,
Florida,
Healthcare
Facilities
Revenue
Refunding
Bonds,
Fleet
Landing
Project,
Series
2013A
5.000
11/15/37
1,480,938
450,000
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A
5.000
09/01/45
449,988
2,260,000
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A
5.000
09/01/48
2,259,811
8,280,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2019A,
(AMT)
5.000
10/01/44
8,441,432
3,465,000
(b)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
5.750
08/15/49
3,411,208
3,250,000
(b)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
IPS
Enterprises,
Inc.
Projects,
Refunding
Series
2023A
6.250
06/15/53
3,378,500
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
4,485,000
Florida
Department
of
Transportation,
Florida,
Right-of-Way
Acquisition
and
Bridge
Construction
Series
2018A
4.000
%
07/01/42
$
4,490,756
175,000
(b)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C
5.000
09/15/40
169,100
2,000,000
(b)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2019,
(AMT)
5.000
05/01/29
2,033,373
5,000,000
(a)
Florida
Development
Finance
Corporation,
Healthcare
Facilities
Revenue
Bonds,
Tampa
General
Hospital
Project,
Series
2024A,
(UB)
5.250
08/01/55
5,153,412
3,900,000
(b)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12.000
07/15/32
4,180,543
4,200,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5.000
07/01/41
4,181,107
8,800,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT)
5.000
07/01/44
9,046,502
10,100,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT)
5.250
07/01/47
10,547,162
11,665,000
(a)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5.250
07/01/47
12,181,449
12,710,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT)
5.250
07/01/53
13,202,905
5,100,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5.500
07/01/53
5,153,722
12,540,000
(b)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2024A,
(AMT),
(Mandatory
Put
2/14/25)
8.250
07/01/57
13,022,568
31,985,000
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Priority
Subordinated
Series
2017A,
(AMT)
5.000
10/01/42
32,445,095
5,000,000
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Series
2018E,
(AMT)
5.000
10/01/43
5,088,327
10,305,000
Hillsborough
County
Aviation
Authority,
Florida,
Tampa
International
Airport
Customer
Facility
Charge
Revenue
Bonds,
Series
2015A
5.000
10/01/44
10,342,578
10,000,000
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A
4.000
08/01/55
9,067,756
825,000
(b)
Lake
County,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
South
Lake
Charter
School
Project,
Series
2019A
5.000
01/15/54
766,692
1,500,000
Lauderhill,
Florida,
Water
and
Sewer
Revenue
Bonds,
Series
2023
-
AGM
Insured
5.000
10/01/53
1,576,578
9,820,000
Miami
Beach
Redevelopment
Agency,
Florida,
Tax
Increment
Revenue
Bonds,
City
Center/Historic
Convention
Village,
Series
2015A
-
AGM
Insured
5.000
02/01/44
9,868,977
2,000,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017
5.125
07/01/46
1,815,083
10,000,000
Miami,
Florida,
Special
Obligation
Non-Ad
Valorem
Revenue
Bonds,
New
Administrative
Building
Series
2023A
5.250
03/01/53
10,708,931
8,070,000
(c)
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2015A,
(Pre-refunded
4/01/25)
5.000
04/01/45
8,096,406
10,050,000
(a)
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2018A,
(UB)
5.000
04/01/53
10,258,774
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,500,000
Miami-Dade
County
Health
Facility
Authority,
Florida,
Hospital
Revenue
Bonds,
Nicklaus
Children's
Hospital,
Refunding
Series
2017
5.000
%
08/01/42
$
1,520,175
5,000,000
Miami-Dade
County
School
District,
Florida,
General
Obligation
Bonds,
School
Series
2022A
-
BAM
Insured
5.000
03/15/52
5,213,210
3,000,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2015A
-
BAM
Insured,
(AMT)
5.000
10/01/38
3,010,952
18,135,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2017B,
(AMT)
5.000
10/01/40
18,340,372
7,000,000
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2021A-2
-
AGM
Insured
4.000
10/01/49
6,687,804
1,005,000
(a)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
(AMT),
(UB)
5.250
10/01/52
1,030,869
1,210,000
(b)
Miami-Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Ojus
Sanitary
Sewer
Special
Benefit
Area,
Series
2021
5.100
07/01/51
1,217,765
5,000,000
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2022
5.000
07/01/51
5,241,329
6,035,000
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2019B
4.000
10/01/49
5,710,183
3,500,000
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2021
4.000
10/01/46
3,381,450
8,000,000
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Inc.
Series
2025A
4.500
10/01/56
7,854,271
7,000,000
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2022
4.000
10/01/52
6,299,501
2,360,000
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Series
2019A-1
5.000
10/01/49
2,425,802
3,260,000
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Retirement
Communities
Revenue
Bonds,
ACTS
Retirement
-
Life
Communities,
Inc
Obligated
Group,
Series
2016
5.000
11/15/32
3,323,265
1,665,000
Pine
Island
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Bella
Collina,
Series
2004
5.750
05/01/35
1,672,560
4,635,000
Port
Saint
Lucie,
Florida,
Public
Service
Tax
Revenue
Bonds,
Recovery
Zone
Facility
Bond
Series
2014B
5.000
09/01/43
4,641,953
2,500,000
Putnam
County
Development
Authority,
Florida,
Pollution
Control
Revenue
Bonds,
Seminole
Electric
Cooperatice,
Inc.
Project,
Refunding
Series
2018A
5.000
03/15/42
2,553,241
2,000,000
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017
5.000
08/15/42
2,033,404
9,770,000
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017
5.000
08/15/47
9,899,651
705,000
(b)
Southeast
Overtown/Park
West
Community
Redevelopement
Agency,
Florida,
Tax
Increment
Revenue
Bonds,
Series
2014A-1
5.000
03/01/30
705,898
1,500,000
Sumter
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Central
Florida
Health
Alliance
Projects,
Series
2014A
5.250
07/01/44
1,500,773
2,000,000
Tallahassee,
Florida,
Health
Facilities
Revenue
Bonds,
Tallahassee
Memorial
HealthCare
Inc.
Project,
Refunding
Series
2015A
5.000
12/01/40
1,965,333
7,545,000
Tampa,
Florida,
Hospital
Revenue
Bonds,
H.
Lee
Moffitt
Cancer
Center
Project,
Series
2020B
5.000
07/01/50
7,659,114
1,000,000
Twisted
Oaks
Pointe
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds
Assessment
Area
Three
Project
Series
2024
6.000
05/01/55
1,014,049
1,500,000
Two
Lakes
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Series
2024
5.000
05/01/55
1,519,883
6,510,000
Volusia
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Stetson
University
Inc.
Project,
Series
2015
5.000
06/01/45
6,396,119
TOTAL
FLORIDA
315,638,599
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
-
2.9%
(1.8%
of
Total
Investments)
$
1,890,000
Atlanta
Development
Authority,
Georgia,
Economic
Development
Certificates,
Gulch
Enterprise
Zone
Project,
Convertible
Capital
Appreciation
Series
2024A-1
Class
A
6.500
%
12/15/48
$
1,625,093
1,775,000
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
New
Downtown
Atlanta
Stadium
Project,
Senior
Lien
Series
2015A-1
5.250
07/01/40
1,782,023
3,400,000
(b)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-2
5.500
04/01/39
3,487,297
14,000,000
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Series
2022B,
(AMT)
5.000
07/01/52
14,367,482
2,600,000
Cobb
County
Kennestone
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System,
Series
2017A
5.000
04/01/47
2,616,546
2,500,000
Columbia
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
WellStar
Health
System,
Inc.
Project,
Series
2023B
5.125
04/01/53
2,607,616
3,575,000
Crisp
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Crisp
County
Hospital
Project,
Series
2021
4.000
07/01/51
3,295,297
390,000
Dalton
Development
Authority,
Georgia,
Revenue
Certificates,
Hamilton
Health
Care
System
Inc.,
Series
1996
-
NPFG
Insured
5.500
08/15/26
397,484
2,000,000
Fulton
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2019A
4.000
07/01/49
1,859,549
3,500,000
Georgia
Ports
Authority,
Revenue
Bonds,
Series
2021
4.000
07/01/51
3,404,628
3,285,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2019A
5.000
05/15/43
3,367,444
23,200,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2019A
5.000
05/15/49
24,401,261
10,000,000
(b)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4.000
08/01/52
9,923,174
10,260,000
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2015A
5.000
07/01/60
10,259,098
3,465,000
Paulding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
WellStar
Health
System
Inc.,
Series
2022A
5.000
04/01/42
3,689,667
TOTAL
GEORGIA
87,083,659
GUAM
-
0.5%
(0.3%
of
Total
Investments)
2,000,000
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D
5.000
11/15/34
2,014,042
1,710,000
Guam
Economic
Development
&
Commerce
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A
5.250
06/01/32
1,682,848
2,915,000
Guam
Economic
Development
&
Commerce
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A
5.625
06/01/47
2,810,704
245,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2016
5.000
07/01/27
250,042
1,240,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2016
5.000
01/01/46
1,248,129
2,000,000
Guam
Government,
Limited
Obligation
Section
30
Revenue
Bonds,
Series
2016A
5.000
12/01/33
2,040,373
2,260,000
Guam
Government,
Limited
Obligation
Section
30
Revenue
Bonds,
Series
2016A
5.000
12/01/34
2,302,755
1,175,000
Guam
Government,
Limited
Obligation
Section
30
Revenue
Bonds,
Series
2016A
5.000
12/01/46
1,184,668
355,000
Guam
Port
Authority,
Port
Revenue
Bonds,
Private
Activity
Series
2018B,
(AMT)
5.000
07/01/33
363,677
TOTAL
GUAM
13,897,238
HAWAII
-
1.0%
(0.6%
of
Total
Investments)
6,000,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Refunding
Series
2017B,
(AMT)
4.000
03/01/37
5,547,373
7,500,000
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
5.000
07/01/45
7,507,252
6,000,000
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2022,
(AMT)
5.000
07/01/38
6,362,441
5,000,000
Hawaii
State,
General
Obligation
Bonds,
Series
2017FK
4.000
05/01/35
5,065,467
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HAWAII
(continued)
$
3,720,000
Honolulu
City
and
County,
Hawaii,
Wastewater
System
Revenue
Bonds,
First
Bond
Resolution,
Green
Senior
Series
2023
5.000
%
07/01/48
$
3,981,452
TOTAL
HAWAII
28,463,985
IDAHO
-
1.3%
(0.7%
of
Total
Investments)
9,495,000
Boise
City
Water
Renewal
System,
Idaho,
Revenue
Bonds,
Refunding
Series
2022
5.000
09/01/47
9,976,238
11,205,000
Idaho
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
CHE
Trinity
Helath
Group,
Series
2017ID
5.000
12/01/46
11,380,110
1,700,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Madison
Memorial
Hospital
Project,
Refunding
Series
2016
5.000
09/01/29
1,711,534
5,585,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2021A
4.000
03/01/46
5,225,572
1,335,000
(g)
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2025A
4.375
03/01/53
1,286,866
4,040,000
(b)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Doral
Academy
of
Idaho,
Series
2021A
5.000
07/15/56
3,254,984
1,155,000
Idaho
Water
Resource
Board,
Water
Resource
Loan
Program
Revenue,
Ground
Water
Rights
Mitigation
Series
2012A
4.750
09/01/26
1,155,467
310,000
Idaho
Water
Resource
Board,
Water
Resource
Loan
Program
Revenue,
Ground
Water
Rights
Mitigation
Series
2012A
5.000
09/01/32
310,328
3,000,000
(b)
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2021
3.750
09/01/51
2,708,860
TOTAL
IDAHO
37,009,959
ILLINOIS
-
12.4%
(7.4%
of
Total
Investments)
6,000,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
6.000
04/01/46
6,167,992
2,170,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues
Series
2012A
5.000
12/01/42
2,157,193
1,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018D
5.000
12/01/46
979,990
1,500,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018D
5.000
12/01/46
1,465,107
9,250,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A
7.000
12/01/44
9,408,119
2,400,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B
6.500
12/01/46
2,464,118
11,295,000
(b)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A
7.000
12/01/46
11,933,336
7,140,000
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1998B-1
-
FGIC
Insured
0.000
12/01/25
6,922,064
4,325,000
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1998B-1
-
FGIC
Insured
0.000
12/01/29
3,558,481
4,235,000
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1998B-1
-
FGIC
Insured
0.000
12/01/31
3,191,432
6,050,000
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1999A
-
NPFG
Insured
5.500
12/01/26
6,119,627
10,285,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A
5.000
01/01/48
10,391,103
2,000,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2016F
-
BAM
Insured
4.250
01/01/47
1,944,551
4,000,000
(a)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A,
(UB)
4.625
01/01/53
3,931,936
5,000,000
(a)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A,
(UB)
5.250
01/01/53
5,151,918
5,000,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A
-
AGM
Insured
5.500
01/01/53
5,236,895
8,010,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A
5.500
01/01/55
8,432,505
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
2,000,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2024B
5.500
%
01/01/59
$
2,180,726
4,115,000
Chicago,
Illinois,
General
Obligation
Bonds,
City
Colleges,
Series
1999
-
FGIC
Insured
0.000
01/01/33
2,999,614
29,600,000
Chicago,
Illinois,
General
Obligation
Bonds,
City
Colleges,
Series
1999
-
FGIC
Insured
0.000
01/01/38
16,699,003
4,000,000
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A
5.000
01/01/40
4,054,186
12,870,000
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A
5.500
01/01/49
13,118,786
11,575,000
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A,
(UB)
5.500
01/01/49
11,798,753
6,200,000
Chicago,
Illinois,
Wastewater
Transmission
Revenue
Bonds,
Second
Lien
Series
2001A
-
NPFG
Insured
5.500
01/01/30
6,510,226
4,500,000
Cook
County
Community
College
District
508,
Illinois,
General
Obligation
Bonds,
Chicago
City
Colleges,
Series
2017
5.000
12/01/47
4,554,177
3,000,000
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016A
5.000
11/15/31
3,102,442
500,000
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2018
5.000
11/15/34
516,017
4,550,000
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2018
5.000
11/15/35
4,689,360
5,000,000
Illinois
Educational
Facilities
Authority,
Revenue
Bonds,
Field
Museum
of
Natural
History,
Series
2002.RMKT
4.450
11/01/36
5,072,612
815,000
Illinois
Educational
Facilities
Authority,
Revenue
Bonds,
Field
Museum
of
Natural
History,
Series
2002.RMKT
4.500
11/01/36
815,015
2,785,000
Illinois
Educational
Facilities
Authority,
Revenue
Bonds,
Field
Museum
of
Natural
History,
Series
2002.RMKT
5.500
11/01/36
2,791,294
410,000
(b)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A
6.000
12/01/45
412,291
1,930,000
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2015,
(UB)
5.000
05/01/45
1,939,616
12,025,000
(a),(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2015,
(Pre-refunded
5/01/25),
(UB)
5.000
05/01/45
12,084,913
2,500,000
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C
5.000
02/15/33
2,577,208
10,000,000
Illinois
Finance
Authority,
Revenue
Bonds,
Mercy
Health
Corporation,
Series
2016
5.000
12/01/46
10,053,761
10,745,000
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A
5.000
11/15/45
10,744,727
560,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C
5.000
08/15/35
563,228
6,245,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C
5.000
08/15/44
6,253,300
10,000,000
(a)
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2022A,
(UB)
5.000
08/15/47
10,466,110
2,670,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Refunding
Series
2015A,
(Pre-refunded
10/01/25)
5.000
10/01/46
2,706,178
15,030,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Series
2023A
5.250
05/15/54
15,968,598
1,830,000
Illinois
Sports
Facility
Authority,
State
Tax
Supported
Bonds,
Refunding
Series
2014
-
AGM
Insured
5.250
06/15/32
1,840,034
450,000
Illinois
State,
General
Obligation
Bonds,
December
Series
2017A
5.000
12/01/39
463,130
3,500,000
Illinois
State,
General
Obligation
Bonds,
January
Series
2016
5.000
01/01/29
3,553,914
8,250,000
Illinois
State,
General
Obligation
Bonds,
January
Series
2016
5.000
01/01/32
8,363,751
4,200,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2016
5.000
06/01/27
4,298,164
2,000,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A
5.500
03/01/42
2,190,024
785,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A
5.500
03/01/47
846,725
16,485,000
Illinois
State,
General
Obligation
Bonds,
March
Series
2021A
5.000
03/01/46
17,118,692
1,635,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2020
5.500
05/01/30
1,747,963
5,305,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2020
5.500
05/01/39
5,755,976
3,000,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2020
5.750
05/01/45
3,244,852
4,585,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2023B
5.250
05/01/43
4,924,969
4,525,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2023B
5.500
05/01/47
4,886,053
1,500,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2016
5.000
11/01/37
1,530,653
3,510,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2016
5.000
02/01/27
3,633,548
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
8,865,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2022C
5.500
%
10/01/41
$
9,782,901
4,685,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015A
5.000
01/01/40
4,713,683
7,770,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2021A
4.000
01/01/42
7,563,159
10,000,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2021A
5.000
01/01/46
10,556,259
5,000,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Series
2023A
5.250
01/01/45
5,442,820
1,890,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2015B
5.000
06/15/52
1,895,009
1,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A
5.500
06/15/53
1,006,695
4,780,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A
5.000
06/15/57
4,824,202
5,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0.000
12/15/34
3,463,386
1,100,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0.000
12/15/35
729,713
3,805,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0.000
06/15/41
1,878,292
835,000
(c)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Hospitality
Facility,
Series
1996A,
(ETM)
7.000
07/01/26
865,311
1,350,000
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Refunding
Series
2020B
-
BAM
Insured
4.000
04/01/41
1,272,517
2,495,000
Sangamon
County
School
District
186
Springfield,
Illinois,
General
Obligation
Bonds,
Alternate
Revenue
Source
Series
2023
-
AGM
Insured
5.500
06/01/58
2,645,254
2,500,000
Sangamon
County
Water
Reclamation
District,
Illinois,
General
Obligation
Bonds
Alternate
Revenue
Source,
Project
&
Refunding
Series
2019A
-
BAM
Insured
4.000
01/01/44
2,414,267
TOTAL
ILLINOIS
365,580,424
INDIANA
-
1.6%
(1.0%
of
Total
Investments)
1,480,000
(b)
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A
5.875
06/01/55
1,395,224
625,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Seven
Oaks
Classical
School
Project,
Series
2021A
5.000
06/01/51
558,649
3,950,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Fixed
Rate
Series
2023A
5.000
10/01/46
4,212,030
2,000,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Fixed
Rate
Series
2023A
5.000
10/01/53
2,103,891
10,000,000
(a)
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Fixed
Rate
Series
2023A,
(UB)
5.000
10/01/53
10,519,454
7,480,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
Unversity
Health
Obligation
Group,
Refunding
2015A
5.000
12/01/40
7,496,381
4,500,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Series
2012A
4.000
10/01/42
4,140,263
2,605,000
(a)
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A-1,
(UB)
4.650
07/01/49
2,625,531
8,150,000
(a)
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A-1,
(UB)
4.750
07/01/54
8,190,624
1,000,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
6.000
03/01/53
1,066,752
3,460,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1
-
BAM
Insured
5.000
03/01/53
3,610,431
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
1,660,000
Northern
Indiana
Commuter
Transportation
District,
Indiana,
Limited
Obligation
Revenue
Bonds,
Series
2024
5.000
%
01/01/54
$
1,734,281
TOTAL
INDIANA
47,653,511
IOWA
-
0.8%
(0.5%
of
Total
Investments)
2,550,000
Iowa
Finance
Authority
Senior
Living
Facilities
Revenue
Bonds,
Sunrise
Retirement
Community
Project,
Refunding
Series
2021
5.000
09/01/41
2,165,196
2,000,000
Iowa
Finance
Authority
Senior
Living
Facilities
Revenue
Bonds,
Sunrise
Retirement
Community
Project,
Refunding
Series
2021
5.000
09/01/51
1,547,912
2,505,000
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012
4.750
08/01/42
2,507,266
9,535,000
(c)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32)
5.000
12/01/50
10,912,060
6,235,000
Iowa
State,
Hospital
Revenue
Bonds,
University
of
Iowa
Hospitals
and
Clinics,
SUI
Series
2022A
4.000
09/01/36
6,358,064
TOTAL
IOWA
23,490,498
KANSAS
-
0.6%
(0.4%
of
Total
Investments)
6,770,000
Lawrence,
Kansas,
Hospital
Revenue
Bonds,
Lawrence
Memorial
Hospital,
Series
2018A
5.000
07/01/43
6,855,389
7,600,000
Lawrence,
Kansas,
Hospital
Revenue
Bonds,
Lawrence
Memorial
Hospital,
Series
2018A
5.000
07/01/48
7,665,659
3,625,000
Wyandotte
County
Unified
School
District
203,
Piper,
Kansas,
General
Obligation
Bonds,
Improvement
and
Refunding
Series
2022A
-
AGM
Insured
5.250
09/01/52
3,822,494
TOTAL
KANSAS
18,343,542
KENTUCKY
-
0.8%
(0.5%
of
Total
Investments)
6,000,000
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Health,
Refunding
Series
2017A
5.000
06/01/45
6,029,782
4,790,000
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C
6.750
07/01/43
5,519,520
3,655,000
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C
6.875
07/01/46
4,214,392
7,100,000
(a)
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2024A-1,
(Mandatory
Put
7/01/30),
(UB)
5.000
05/01/55
7,444,718
TOTAL
KENTUCKY
23,208,412
LOUISIANA
-
3.1%
(1.9%
of
Total
Investments)
3,820,000
Ascension
Parish
Industrial
development
Board,
Louisiana,
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013
6.000
07/01/36
3,821,961
3,130,000
Jefferson
Sales
Tax
District,
Jefferson
Parish,
Louisiana,
Special
Sales
Tax
Revenue
Bonds,
Series
2017B
-
AGM
Insured
5.000
12/01/42
3,188,287
4,000,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Womans
Hospital
Foundation
Project,
Refunding
Series
2017A
5.000
10/01/44
4,048,439
7,000,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5.000
05/15/46
7,056,069
10,000,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2020A
4.000
05/15/49
9,219,338
6,530,000
(b)
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
(AMT)
6.500
07/01/36
6,533,219
1,265,000
(c)
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
and
Refunding
Bonds,
Lafayette
General
Medical
Center
Project,
Series
2016A,
(Pre-refunded
11/01/25)
5.000
11/01/45
1,284,746
8,500,000
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Loyola
University
of
New
Orleans
Project,
Refunding
Series
2023A
5.250
10/01/53
8,654,489
1,830,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016
4.000
05/15/35
1,833,975
8,540,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5.500
09/01/59
9,041,694
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
4,835,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5.750
%
09/01/64
$
5,234,506
10,810,000
Louisiana
Stadium
and
Exposition
District,
Revenue
Bonds,
Senior
Series
2023A
5.000
07/01/48
11,291,254
14,000,000
(c)
Louisiana
State,
Gasoline
and
Fuels
Tax
Revenue
Bonds,
Refunding
Series
2015A,
(Pre-refunded
5/01/25)
4.000
05/01/41
14,041,189
1,000,000
(b)
Plaquemines
Port,
Louisiana,
Harbor
and
Terminal
District
Facilities
Revenue
Bonds
NOLA
Terminal
LLC
Project
Dock
and
Wharf
Series
2024A
9.000
12/01/44
1,006,241
5,655,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Refunding
Series
2015
5.000
12/01/40
5,715,491
TOTAL
LOUISIANA
91,970,898
MAINE
-
0.7%
(0.4%
of
Total
Investments)
3,820,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
4.000
07/01/41
3,281,425
3,000,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
5.000
07/01/41
2,950,346
5,480,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
4.000
07/01/46
4,523,575
4,595,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
5.000
07/01/46
4,446,825
2,935,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
MaineHealth
Issue,
Series
2018A
5.000
07/01/48
2,957,599
1,290,000
Maine
Turnpike
Authority,
Special
Obligation
Bonds,
Series
2014
5.000
07/01/33
1,291,815
1,020,000
Maine
Turnpike
Authority,
Special
Obligation
Bonds,
Series
2014
5.000
07/01/34
1,021,305
TOTAL
MAINE
20,472,890
MARYLAND
-
6.7%
(4.0%
of
Total
Investments)
1,765,000
Anne
Arundel
County,
Maryland,
FNMA
Multifamily
Housing
Revenue
Bonds,
Glenview
Gardens
Apartments
Project,
Series
2009,
(Mandatory
Put
1/01/27)
5.000
01/01/28
1,767,554
1,180,000
Anne
Arundel
County,
Maryland,
Special
Tax
District
Revenue
Bonds,
Villages
of
Dorchester
&
Farmington
Village
Projects,
Series
2013
5.000
07/01/32
1,180,711
1,000,000
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2016
3.625
01/01/37
942,137
2,220,000
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2016
5.000
01/01/37
2,235,655
9,215,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5.000
09/01/42
9,130,963
4,000,000
Baltimore,
Maryland,
Revenue
Bonds,
Wastewater
Projects,
Subordinate
Series
2017A
5.000
07/01/46
4,059,334
1,430,000
(c)
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Refunding
Series
1998A
-
FGIC
Insured,
(ETM)
5.000
07/01/28
1,476,577
2,500,000
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Subordinate
Series
2014A
5.000
07/01/44
2,509,563
6,000,000
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Subordinate
Series
2017A
5.000
07/01/41
6,114,643
1,450,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Center/West
Development
Project,
Series
2017A
5.500
06/01/43
1,422,010
525,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Consolidated
Tax
Increment
Financing,
Series
2015
5.000
06/15/30
525,364
425,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Consolidated
Tax
Increment
Financing,
Series
2015
5.000
06/15/33
425,262
1,270,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
East
Baltimore
Research
Park
Project,
Series
2017A
4.500
09/01/33
1,273,757
240,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
East
Baltimore
Research
Park
Project,
Series
2017A
5.000
09/01/38
241,693
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
1,895,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2016
5.000
%
06/01/36
$
1,903,540
250,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2016
5.125
06/01/43
250,538
2,000,000
(b)
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2019A
3.625
06/01/46
1,649,524
350,000
(b)
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2019B
3.875
06/01/46
296,372
450,000
Brunswick,
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Brunswick
Crossing
Special
Taxing
District,
Refunding
Series
2019
4.000
07/01/29
445,775
738,000
Brunswick,
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Brunswick
Crossing
Special
Taxing
District,
Refunding
Series
2019
5.000
07/01/36
749,844
3,000,000
(b)
Frederick
County,
Maryland,
Educational
Facilities
Revenue
Bonds,
Mount
Saint
Mary's
University
Inc.,
Series
2017A
5.000
09/01/37
2,975,020
1,750,000
(b)
Frederick
County,
Maryland,
Educational
Facilities
Revenue
Bonds,
Mount
Saint
Mary's
University
Inc.,
Series
2017A
5.000
09/01/45
1,644,973
286,000
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Lake
Linganore
Village
Community
Development
Series
2001A
-
RAAI
Insured
5.700
07/01/29
286,531
1,240,000
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Urbana
Community
Development
Authority,
Refunding
Series
2020A
4.000
07/01/35
1,234,044
370,000
Frederick
County,
Maryland,
Tax
Increment
and
Special
Tax
B
Limited
Obligation
Bonds,
Oakdale-Lake
Linganore
Project,
Series
2019
3.750
07/01/39
331,922
105,000
(b)
Frederick
County,
Maryland,
Tax
Increment
and
Special
Tax
Limited
Obligation
Bonds,
Jefferson
Technology
Park
Project,
Refunding
Series
2020B
4.625
07/01/43
102,328
2,000,000
Gaithersburg,
Maryland,
Economic
Development
Revenue
Bonds,
Asbury
Methodist
Obligated
Group
Project,
Refunding
Series
2018A
5.000
01/01/33
2,041,691
1,000,000
Gaithersburg,
Maryland,
Economic
Development
Revenue
Bonds,
Asbury
Methodist
Obligated
Group
Project,
Refunding
Series
2018A
5.000
01/01/36
1,017,008
1,500,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Columbia
Commons
Apartments,
Series
2014A
4.000
06/01/34
1,482,865
1,550,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Columbia
Commons
Apartments,
Series
2014A
5.000
06/01/44
1,550,365
1,995,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
The
Verona
at
Oakland
Mills
Project,
Series
2013
4.625
10/01/28
1,997,037
2,995,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
The
Verona
at
Oakland
Mills
Project,
Series
2013
5.000
10/01/28
2,999,105
1,000,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Woodfield
Oxford
Square
Apartments,
Series
2017
5.000
12/01/42
1,014,983
1,290,000
Howard
County,
Maryland,
Retirement
Community
Revenue
Bonds,
Vantage
House,
Refunding
Series
2016
5.000
04/01/46
1,184,160
1,710,000
Howard
County,
Maryland,
Retirement
Community
Revenue
Bonds,
Vantage
House,
Refunding
Series
2017
5.000
04/01/36
1,696,901
1,500,000
(b)
Howard
County,
Maryland,
Special
Obligation
Bonds,
Downtown
Columbia
Project,
Series
2017A
4.125
02/15/34
1,461,446
1,550,000
(b)
Howard
County,
Maryland,
Special
Obligation
Bonds,
Downtown
Columbia
Project,
Series
2017A
4.375
02/15/39
1,495,519
850,000
(b)
Howard
County,
Maryland,
Special
Obligation
Bonds,
Downtown
Columbia
Project,
Series
2017A
4.500
02/15/47
795,675
2,125,000
Hyattsville,
Maryland,
Special
Obligation
Bonds,
University
Town
Center
Project,
Series
2016
5.000
07/01/31
2,125,667
1,640,000
Hyattsville,
Maryland,
Special
Obligation
Bonds,
University
Town
Center
Project,
Series
2016
5.000
07/01/34
1,607,772
1,220,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2000A
2.800
07/01/45
880,664
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
1,195,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2014D
3.900
%
07/01/40
$
1,143,987
680,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2017C
3.550
07/01/42
609,819
700,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2020E
2.350
07/01/45
453,547
1,445,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2019C
3.000
03/01/42
1,192,604
2,000,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2020D
2.100
09/01/40
1,444,823
2,570,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021A
2.000
09/01/43
1,640,818
2,000,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Taxable
Series
2019D
3.350
07/01/49
1,646,377
1,000,000
Maryland
Community
Development
Administration,
Department
of
Housing
and
Community
Development,
Multifamily
Development
Revenue
Bonds,
Marlborough
Apartments,
Series
2014I
3.450
12/15/31
998,651
1,000,000
Maryland
Economic
Development
Corporation
Economic
Development
Revenue
Bonds,
Transportation
Facilities
Project,
Refunding
Series
2017A
5.000
06/01/31
1,041,033
1,125,000
Maryland
Economic
Development
Corporation
Economic
Development
Revenue
Bonds,
Transportation
Facilities
Project,
Refunding
Series
2017A
5.000
06/01/32
1,168,738
3,360,000
Maryland
Economic
Development
Corporation
Economic
Development
Revenue
Bonds,
Transportation
Facilities
Project,
Refunding
Series
2017A
5.000
06/01/35
3,473,920
1,600,000
Maryland
Economic
Development
Corporation,
Air
Cargo
Obligated
Group
Revenue
Bonds,
AFCO
Airport
Real
Estate
Group,
Series
2019,
(AMT)
4.000
07/01/39
1,519,452
1,250,000
Maryland
Economic
Development
Corporation,
Parking
Facilities
Revenue
Bonds
Baltimore
City
Project,
Subordinate
Parking
Facilities
Revenue
Bonds,
Series
2018C
4.000
06/01/48
1,025,105
1,080,000
Maryland
Economic
Development
Corporation,
Parking
Facilities
Revenue
Bonds
Baltimore
City
Project,
Subordinate
Parking
Facilities
Revenue
Bonds,
Series
2018C
4.000
06/01/58
841,840
3,725,000
Maryland
Economic
Development
Corporation,
Parking
Facilities
Revenue
Bonds,
Baltimore
City
Project,
Senior
Parking
Facilities
Revenue
Bonds,
Series
2018A
5.000
06/01/58
3,765,559
5,810,000
Maryland
Economic
Development
Corporation,
Port
Facilities
Revenue
Bonds,
CNX
Marine
Terminals
Inc.
Port
of
Baltimore
Facility,
Refunding
Series
2010
5.750
09/01/25
5,855,179
2,000,000
(d)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A
5.000
12/01/31
1,297,500
1,100,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5.000
07/01/36
1,114,093
470,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5.000
07/01/37
470,155
585,000
Maryland
Economic
Development
Corporation,
Special
Obligation
Bonds,
Metro
Centre
Owings
Mills
Project,
Series
2017
4.375
07/01/36
569,024
385,000
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
Salisbury
University
Project,
Refunding
Series
2013
5.000
06/01/27
385,176
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
500,000
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
Salisbury
University
Project,
Refunding
Series
2013
5.000
%
06/01/34
$
500,093
1,510,000
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
Sheppard
Pratt
University
Village,
Series
2012
5.000
07/01/33
1,495,449
495,000
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
University
of
Maryland
-
Baltimore
Project,
Refunding
Senior
Lien
Series
2015
5.000
07/01/39
495,638
1,110,000
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
University
of
Maryland,
Baltimore
County
Project,
Refunding
Series
2016
-
AGM
Insured
3.600
07/01/35
1,071,851
990,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Maryland,
Revenue
Bonds,
Meritus
Medical
Center,
Series
2015
4.000
07/01/32
990,005
2,470,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Maryland,
Revenue
Bonds,
Meritus
Medical
Center,
Series
2015
4.250
07/01/35
2,446,670
1,740,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Maryland,
Revenue
Bonds,
Meritus
Medical
Center,
Series
2015
5.000
07/01/45
1,741,414
1,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Parking
Facilities
Revenue
Bonds,
Johns
Hopkins
Hospital,
Series
2001
-
AMBAC
Insured
5.000
07/01/27
1,007,975
1,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Parking
Facilities
Revenue
Bonds,
Johns
Hopkins
Hospital,
Series
2001
-
AMBAC
Insured
5.000
07/01/34
1,008,036
145,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Parking
Facilities
Revenue
Bonds,
Johns
Hopkins
Medical
Institutions,
Series
1996
-
AMBAC
Insured
5.500
07/01/26
146,156
250,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds
Doctors
Community
Hospital,
Series
2017B
5.000
07/01/34
254,804
4,820,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds
Doctors
Community
Hospital,
Series
2017B
5.000
07/01/38
4,884,426
90,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5.000
07/01/36
91,385
1,450,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5.000
07/01/38
1,467,226
600,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
4.000
07/01/42
557,164
1,400,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
Healthcare,
Series
2016A
5.500
01/01/36
1,430,832
4,020,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
Healthcare,
Series
2016A
5.500
01/01/46
4,058,759
2,125,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Charlestown
Community
Issue,
Series
2016A
5.000
01/01/36
2,162,128
4,090,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Charlestown
Community
Issue,
Series
2016A
5.000
01/01/45
4,125,339
1,000,000
Maryland
Health
and
HIgher
Educational
Facilities
Authority,
Revenue
Bonds,
Frederick
Health
System
Issue;
Series
2020
3.250
07/01/39
824,927
1,200,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Goucher
College,
Series
2017A
5.000
07/01/44
1,179,488
265,000
(b)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A
5.125
07/01/37
265,434
500,000
(b)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A
5.250
07/01/47
493,491
1,340,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Helix
Health,
Series
1997
-
AMBAC
Insured,
(ETM)
5.000
07/01/27
1,370,514
2,500,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Johns
Hopkins
Health
System
Issue,
Series
2015A
4.000
05/15/40
2,462,152
500,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Johns
Hopkins
University,
Series
2013B
5.000
07/01/38
500,166
4,375,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Johns
Hopkins
University,
Series
2013B
4.250
07/01/41
4,313,709
1,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
Issue,
Series
2017
5.000
07/01/33
1,034,024
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
1,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
Issue,
Series
2017
5.000
%
07/01/44
$
1,008,429
1,500,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
System,
Series
2015,
(Pre-
refunded
7/01/25)
4.000
07/01/35
1,507,194
1,125,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
System,
Series
2015,
(Pre-
refunded
7/01/25)
5.000
07/01/40
1,134,956
2,975,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
System,
Series
2015
4.125
07/01/47
2,875,221
175,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Maryland
Institute
College
of
Art,
Series
2016
5.000
06/01/36
176,469
525,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Maryland
Institute
College
of
Art,
Series
2017,
(Pre-refunded
6/01/26)
5.000
06/01/35
539,515
1,000,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Maryland
Institute
College
of
Art,
Series
2017,
(Pre-refunded
6/01/26)
5.000
06/01/42
1,027,647
2,500,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MedStar
Health
Issue,
Series
2015
5.000
08/15/38
2,501,389
4,260,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2017MD
5.000
12/01/46
4,326,574
1,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Maryland
Medical
System
Issue,
Series
2015
5.000
07/01/35
1,006,774
5,500,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Maryland
Medical
System
Issue,
Series
2017B
5.000
07/01/39
5,635,519
1,000,000
(c)
Maryland
Stadium
Authority,
Revenue
Bonds,
Baltimore
City
Public
Schools
Construction
&
Revitalization
Program,
Series
2016,
(Pre-refunded
5/01/26)
5.000
05/01/35
1,027,795
6,250,000
Maryland
Stadium
Authority,
Revenue
Bonds,
Baltimore
City
Public
Schools
Construction
&
Revitalization
Program,
Series
2018A
5.000
05/01/42
6,447,880
7,000,000
Maryland
Transportation
Authority,
Revenue
Bonds,
Transportation
Facilities
Projects,
Series
2020
4.000
07/01/50
6,665,471
1,500,000
Montgomery
County
Housing
Opportunities
Commission,
Maryland,
Multifamily
Housing
Development
Bonds,
Series
2014A
3.875
07/01/39
1,459,119
6,000,000
Montgomery
County,
Maryland,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2015
4.000
12/01/44
5,821,474
320,000
(b)
Prince
George's
County
Revenue
Authority,
Maryland,
Special
Obligation
Bonds,
Suitland-Naylor
Road
Project,
Series
2016
5.000
07/01/46
320,302
1,050,000
Prince
George's
County,
Maryland,
Revenue
Bonds,
Collington
Episcopal
Life
Care
Community
Inc.,
Series
2017
5.250
04/01/37
1,050,134
1,300,000
(b)
Prince
George's
County,
Maryland,
Special
Obligation
Bonds,
Westphalia
Town
Center
Project,
Series
2018
5.125
07/01/39
1,308,958
2,200,000
(b)
Prince
George's
County,
Maryland,
Special
Obligation
Bonds,
Westphalia
Town
Center
Project,
Series
2018
5.250
07/01/48
2,214,795
1,854,000
Prince
George's
County,
Maryland,
Special
Tax
District
Bonds,
Victoria
Falls
Project,
Series
2005
5.250
07/01/35
1,862,621
795,000
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Refunding
Series
2017A-2
5.000
11/01/31
806,330
1,070,000
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Series
2017A-1
5.000
11/01/28
1,088,293
1,000,000
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Series
2017A-1
5.000
11/01/37
1,005,012
500,000
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Series
2017B
5.000
11/01/42
492,448
1,000,000
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Series
2017B
5.000
11/01/47
956,719
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
1,000,000
(c)
Washington
County
County
Commissioners,
Maryland,
Revenue
Bonds,
Diakon
Lutheran
Social
Ministries
Project,
Series
2019B,
(ETM)
5.000
%
01/01/29
$
1,074,317
500,000
(c)
Washington
County
County
Commissioners,
Maryland,
Revenue
Bonds,
Diakon
Lutheran
Social
Ministries
Project,
Series
2019B,
(Pre-refunded
1/01/29)
5.000
01/01/32
537,158
TOTAL
MARYLAND
198,441,660
MASSACHUSETTS
-
1.0%
(0.6%
of
Total
Investments)
5,000,000
Massachusetts
Bay
Transportation
Authority,
Sales
Tax
Revenue
Bonds,
Subordinated
Series
2021A-1
4.000
07/01/51
4,801,813
539,969
(b),(d)
Massachusetts
Development
Finance
Agency,
Health
Care
Facility
Revenue
Bonds,
Adventcare
Project,
Series
2007A
6.750
10/15/37
5
677,039
(d)
Massachusetts
Development
Finance
Agency,
Health
Care
Facility
Revenue
Bonds,
Adventcare
Project,
Series
2010
7.625
10/15/37
7
3,200,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emerson
College,
Series
2015
4.500
01/01/45
2,999,907
8,500,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
The
Lowell
General
Hospital,
Series
2013G
5.000
07/01/44
8,253,097
1,500,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
UMass
Memorial
Health
Care,
Series
2016I
4.000
07/01/41
1,420,221
1,145,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Western
New
England
University,
Series
2015
5.000
09/01/40
1,146,239
1,280,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Western
New
England
University,
Series
2015
5.000
09/01/45
1,263,892
2,000,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Series
2013B
4.500
06/01/56
1,954,007
1,600,000
(a)
Massachusetts
Housing
Finance
Agency,
Multifamily
Housing
Bonds,
Green
Sustainability
Series
2024A1,
(UB)
4.900
12/01/59
1,605,365
4,485,000
(a)
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024-234,
(UB)
4.700
12/01/49
4,534,675
2,000,000
Massachusetts
State,
General
Obligation
Bonds,
Consolidated
Loan,
Series
2024A
5.000
01/01/54
2,118,866
TOTAL
MASSACHUSETTS
30,098,094
MICHIGAN
-
3.5%
(2.1%
of
Total
Investments)
40,000
(c)
Eastern
Michigan
University,
General
Revenue
Bonds,
Series
2018A,
(Pre-refunded
3/01/28)
4.000
03/01/44
41,360
960,000
Eastern
Michigan
University,
General
Revenue
Bonds,
Series
2018A
-
AGM
Insured
4.000
03/01/44
921,041
4,180,000
Hudsonville
Public
Schools,
Ottawa
and
Allegan
Counties,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Refunding
Series
2023
5.000
05/01/53
4,338,319
2,000,000
Lansing
Board
of
Water
and
Light,
Michigan,
Utility
System
Revenue
Bonds,
Series
2019A
5.000
07/01/48
2,069,323
10,000,000
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne,
Second
Lien
Refunding
Series
2020
4.000
11/01/55
8,974,171
10,125,000
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne,
Second
Lien
Refunding
Series
2020
4.000
11/01/55
9,136,648
5,000,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
McLaren
Health
Care,
Series
2019A
4.000
02/15/47
4,645,868
3,000,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Fixed
Rate
Series
2022A-MI
4.000
12/01/47
2,818,216
4,500,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2019A-MI
4.000
12/01/49
4,134,094
4,435,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts
Senior
Current
Interest
Series
2020A-2
5.000
06/01/40
4,573,206
4,385,000
(c)
Michigan
Hospital
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Senior
Credit
Group,
Refunding
&
Project
Series
2010F-6,
(Pre-refunded
11/15/26)
4.000
11/15/47
4,452,010
615,000
Michigan
Hospital
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Senior
Credit
Group,
Refunding
&
Project
Series
2010F-6
4.000
11/15/47
569,669
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
2,500,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2024A
4.700
%
10/01/54
$
2,498,176
2,450,000
(a)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A,
(UB)
4.650
12/01/49
2,472,106
10,000,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I
5.000
04/15/34
10,112,595
1,000,000
Michigan
State
University,
General
Revenue
Bonds,
Refunding
Series
2019C
4.000
02/15/44
980,111
8,000,000
Michigan
State,
Trunk
Line
Fund
Bonds,
Rebuilding
Michigan
Program
Series
2020B
4.000
11/15/45
7,891,183
6,000,000
Michigan
State,
Trunk
Line
Fund
Bonds,
Rebuilding
Michigan
Program,
Series
2023
5.500
11/15/49
6,659,934
7,500,000
(a)
Monroe
Public
Schools,
Monroe
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020I,
(UB)
5.000
05/01/50
7,713,098
5,000,000
Troy
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2023
5.000
05/01/47
5,294,178
11,225,000
Walled
Lake
Consolidated
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020
5.000
05/01/50
11,565,147
1,200,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2015D
5.000
12/01/45
1,204,852
TOTAL
MICHIGAN
103,065,305
MINNESOTA
-
2.9%
(1.7%
of
Total
Investments)
310,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
4.000
08/01/36
293,007
750,000
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,Series
2016A
5.000
07/01/47
672,640
500,000
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Eagle
Ridge
Academy
Project,
Series
2016A
4.000
07/01/37
481,014
6,905,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
5.000
02/15/48
6,966,978
11,925,000
(a)
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A,
(UB)
5.000
02/15/53
11,959,309
1,925,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
5.250
02/15/53
1,947,193
3,000,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
5.000
02/15/58
3,004,989
1,125,000
GFW
Independent
School
District
No.
2365,
Sibley,
Renville,
McLeod
and
Nicollet
Counties,
Minnesota,
General
Obligation
School
Building
Bonds,
Series
2023A
4.125
02/01/52
1,090,630
725,000
Hawley
Independent
School
District
150,
Clay
County,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2023A
4.000
02/01/43
725,327
500,000
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Paladin
Career
&
Technical
High
School
Project,
Series
2021A
4.000
06/01/41
411,343
2,010,000
Independent
School
District
621,
Mounds
View,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2018A
4.000
02/01/42
2,005,365
1,000,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019B,
(AMT)
5.000
01/01/31
1,051,795
1,300,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019B,
(AMT)
5.000
01/01/38
1,345,503
3,420,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019B,
(AMT)
5.000
01/01/44
3,482,135
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
4,000,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019B,
(AMT)
5.000
%
01/01/49
$
4,051,660
2,295,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Senior
Lien
Series
2016C
5.000
01/01/41
2,342,669
470,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2016D,
(AMT)
5.000
01/01/32
480,359
450,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2016D,
(AMT)
5.000
01/01/35
458,362
580,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2016D,
(AMT)
5.000
01/01/37
589,600
750,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2016D,
(AMT)
5.000
01/01/41
757,445
2,745,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2022B,
(AMT)
5.250
01/01/47
2,861,188
1,300,000
Minnesota
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Carleton
College,
Refunding
Series
2017
3.750
03/01/38
1,281,777
1,460,000
Minnesota
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Carleton
College,
Refunding
Series
2017
4.000
03/01/41
1,448,505
2,150,000
Minnesota
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Macalester
College,
Refunding
Series
2017
4.000
03/01/48
2,001,739
270,000
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021A
3.000
08/01/36
246,847
190,000
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021B
3.000
08/01/36
173,708
2,910,000
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2022A
5.000
08/01/41
3,127,105
2,000,000
Rochester,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Mayo
Clinic,
Series
2022
5.000
11/15/57
2,094,397
2,380,000
Round
Lake-Brewster
Independent
School
District
2907,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2023A
4.000
02/01/44
2,339,543
2,000,000
Saint
Cloud,
Minnesota,
Health
Care
Revenue
Bonds,
CentraCare
Health
System,
Series
2019
5.000
05/01/48
2,036,123
1,520,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
of
Peace
Academy
Project,
Refunding
Series
2015A
5.000
12/01/50
1,470,422
1,395,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
of
Peace
Academy
Project,
Series
2019
5.000
12/01/39
1,403,299
2,625,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Refunding
Series
2020A
5.000
09/01/40
2,644,360
1,250,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Refunding
Series
2020A
5.000
09/01/43
1,254,776
780,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Refunding
Series
2020A
5.000
09/01/55
758,537
2,205,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A
5.500
09/01/36
2,236,457
2,500,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A
5.750
09/01/46
2,525,728
2,500,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A
6.000
09/01/51
2,529,420
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
500,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
German
Immersion
School,
Series
2013A
5.000
%
07/01/44
$
476,104
1,745,000
Saint
Paul
Housing
and
Redevelopment
Authority
Minnesota,
Senior
Housing
and
Health
Care
Revenue
Bonds,
Episcopal
Homes
Project,
Series
2013
5.000
05/01/33
1,692,133
1,000,000
Saint
Paul
Housing
and
Redevelopment
Authority
Minnesota,
Senior
Housing
and
Health
Care
Revenue
Bonds,
Episcopal
Homes
Project,
Series
2013
5.125
05/01/48
867,351
2,245,000
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Revenue
Bonds,
Fairview
Health
Services,
Series
2017A
5.000
11/15/47
2,255,876
1,000,000
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2015A
5.000
12/01/43
788,891
750,000
(c)
St.
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Hospital
Revenue
Bonds,
HealthEast
Inc.,
Series
2015A,
(Pre-
refunded
11/15/25)
5.000
11/15/29
762,022
2,000,000
Wayzata,
Minnesota
Senior
Housing
Revenue
Bonds,
Folkestone
Senior
Living
Community,
Refunding
Series
2019
5.000
08/01/54
2,000,563
TOTAL
MINNESOTA
85,394,194
MISSISSIPPI
-
0.8%
(0.5%
of
Total
Investments)
1,500,000
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A
5.000
09/01/36
1,514,181
6,000,000
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A
5.000
09/01/41
6,021,390
15,500,000
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A
5.000
09/01/46
15,474,512
TOTAL
MISSISSIPPI
23,010,083
MISSOURI
-
4.9%
(2.9%
of
Total
Investments)
1,000,000
Boone
County,
Missouri,
Hospital
Revenue
Bonds,
Boone
Hospital
Center,
Refunding
Series
2016
5.000
08/01/28
943,202
2,010,000
Bridgeton
Industrial
Development
Authority,
Missouri,
Senior
Housing
Revenue
Bonds,
The
Sarah
Community
Project,
Refunding
Series
2016
3.625
05/01/30
2,002,954
1,945,000
Jefferson
County
School
District
R-1
Northwest,
Missouri,
General
Obligation
Bonds,
Direct
Deposit
Program
Series
2023
4.000
03/01/42
1,920,096
5,640,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019A,
(AMT)
5.000
03/01/44
5,724,935
2,965,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B,
(AMT)
5.000
03/01/39
3,047,063
13,250,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B,
(AMT)
5.000
03/01/46
13,404,148
11,950,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B,
(AMT)
5.000
03/01/54
12,031,255
400,000
(b)
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016
5.000
04/01/46
368,176
7,000,000
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1
-
AMBAC
Insured
0.000
04/15/27
6,473,575
5,000,000
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1
-
AMBAC
Insured
0.000
04/15/28
4,451,657
5,000,000
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1
-
AMBAC
Insured
0.000
04/15/29
4,281,174
6,185,000
Kansas
City,
Missouri,
Sanitary
Sewer
System
Revenue
Bonds,
Improvement
Series
2023A
4.000
01/01/48
5,954,982
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
1,000,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Series
1998C
2.750
%
09/01/33
$
892,476
1,000,000
Missouri
Health
and
Education
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Saint
Luke's
Health
System,
Inc.,
Series
2016
5.000
11/15/34
1,019,748
11,010,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2021A
4.000
07/01/46
10,589,949
1,045,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A
5.000
11/15/44
1,045,220
11,090,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A
5.000
11/15/48
11,090,197
3,000,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017C
5.000
11/15/42
3,049,999
6,265,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017C
5.000
11/15/47
6,325,879
10,000,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2020
4.000
06/01/53
9,023,565
1,800,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mosaic
Health
System,
Series
2019A
4.000
02/15/44
1,741,275
7,815,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mosaic
Health
System,
Series
2019A
4.000
02/15/49
7,361,318
2,000,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
SSM
Health
Care,
Series
2018A
4.000
06/01/48
1,816,379
7,925,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2016A
5.000
02/01/46
7,926,493
4,370,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2016B
5.000
02/01/46
4,370,823
725,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Saint
Louis
University,
Series
2017A
4.000
10/01/36
731,970
3,510,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Saint
Louis
University,
Series
2017A
5.000
10/01/47
3,558,944
6,440,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Home
Ownership
Loan
Program
Series
2024C
4.650
11/01/49
6,507,144
1,500,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Home
Ownership
Loan
Program
Series
2024G
4.500
11/01/54
1,477,330
1,170,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2024A
4.700
11/01/54
1,172,038
1,330,000
Missouri
Joint
Municipal
Electric
Utility
Commission,
Power
Supply
System
Revenue
Bonds,
MoPEP
Facilities,
Series
2018
5.000
12/01/37
1,366,883
1,140,000
Missouri
Joint
Municipal
Electric
Utility
Commission,
Power
Supply
System
Revenue
Bonds,
MoPEP
Facilities,
Series
2018
5.000
12/01/38
1,167,746
2,185,000
Missouri
Southern
State
University,
Auxiliary
Enterprise
System
Revenue
Bonds,
Series
2021
4.000
10/01/44
1,838,196
375,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
of
Sunset
Hills,
Series
2013A
5.875
09/01/43
373,929
1,000,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
Saint
Louis
Obligated
Group,
Series
2018A
5.125
09/01/48
987,157
TOTAL
MISSOURI
146,037,875
MONTANA
-
0.3%
(0.2%
of
Total
Investments)
2,090,000
Montana
Facility
Finance
Authority,
Healthcare
Facility
Revenue
Bonds,
Kalispell
Regional
Medical
Center,
Series
2018B
5.000
07/01/43
2,118,719
6,830,000
Montana
State
Board
of
Regents
of
Higher
Education,
General
Revenue
Bonds,
Series
2022
-
AGM
Insured
5.250
11/15/52
7,284,795
TOTAL
MONTANA
9,403,514
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEBRASKA
-
0.1%
(0.1%
of
Total
Investments)
$
1,625,000
Douglas
County
Hospital
Authority
2,
Nebraska,
Health
Facilities
Revenue
Bonds,
Children's
Hospital
Obligated
Group,
Refunding
Series
2020A
4.000
%
11/15/40
$
1,589,562
1,635,000
Douglas
County
Hospital
Authority
3,
Nebraska,
Health
Facilities
Revenue
Bonds,
Nebraska
Methodist
Health
System,
Refunding
Series
2015
4.125
11/01/36
1,615,433
1,000,000
Douglas
County
Hospital
Authority
3,
Nebraska,
Health
Facilities
Revenue
Bonds,
Nebraska
Methodist
Health
System,
Refunding
Series
2015
5.000
11/01/45
1,003,904
TOTAL
NEBRASKA
4,208,899
NEVADA
-
0.6%
(0.4%
of
Total
Investments)
8,835,000
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Series
2018B
5.000
07/01/43
9,119,273
7,500,000
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Series
2018B
4.000
07/01/49
7,005,025
2,400,000
Nevada
System
of
Higher
Education,
Community
College
Revenue
Bonds,
Series
2017
4.000
07/01/41
2,373,407
TOTAL
NEVADA
18,497,705
NEW
HAMPSHIRE
-
0.5%
(0.3%
of
Total
Investments)
3,000,000
(b)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018B
4.625
11/01/42
2,808,062
1,500,000
(b)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020A,
(Mandatory
Put
7/02/40)
3.625
07/01/43
1,247,336
4,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth-Hitchcock
Obligated
Group,
Series
2018A
5.000
08/01/35
4,133,898
5,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth-Hitchcock
Obligated
Group,
Series
2020A
-
AGM
Insured
5.000
08/01/59
5,409,654
TOTAL
NEW
HAMPSHIRE
13,598,950
NEW
JERSEY
-
5.4%
(3.2%
of
Total
Investments)
5,000,000
New
Jersey
Economic
Development
Authority,
New
Jersey,
Transit
Transportation
Project
Revenue
Bonds,
Series
2020A
5.000
11/01/40
5,251,087
1,965,000
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013
-
AGM
Insured,
(AMT)
5.000
01/01/31
1,970,765
1,865,000
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013
-
AGM
Insured,
(AMT)
5.125
01/01/39
1,866,957
1,585,000
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013
-
AGM
Insured,
(AMT)
5.125
07/01/42
1,586,357
6,030,000
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
New
Jersey
Transit
Corporation
Projects
Sublease,
Refunding
Series
2017B
5.000
11/01/25
6,123,548
2,000,000
(c)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2016BBB,
(Pre-refunded
12/15/26)
5.500
06/15/31
2,102,316
6,770,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2005N-1
-
NPFG
Insured
5.500
09/01/27
7,207,056
2,410,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Social
Series
2021QQQ
4.000
06/15/50
2,289,123
5,275,000
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
RWJ
Barnabas
Health
Obligated
Group,
Series
2021A
4.000
07/01/51
5,031,417
2,020,000
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2016A-1
5.000
06/15/28
2,069,507
3,340,000
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2016A-1
5.000
06/15/29
3,418,405
8,155,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2023AA
4.250
06/15/44
8,133,237
4,890,000
(a)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2023BB,
(UB)
5.250
06/15/50
5,263,820
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
1,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Capital
Appreciation
Series
2010A
0.000
%
12/15/26
$
942,629
21,120,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
-
AMBAC
Insured
0.000
12/15/28
18,573,462
10,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
-
AGM
Insured
0.000
12/15/32
7,573,616
20,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
-
AGM
Insured
0.000
12/15/33
14,519,272
25,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
-
AMBAC
Insured
0.000
12/15/35
16,408,528
30,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
-
AMBAC
Insured
0.000
12/15/36
18,823,680
2,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A
0.000
12/15/32
1,503,064
1,690,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA
5.250
06/15/33
1,700,249
2,840,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA
5.000
06/15/45
2,843,000
2,800,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2018A
5.000
12/15/36
2,949,624
2,460,000
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Series
2017B
4.000
01/01/34
2,505,006
5,250,000
(a)
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2022B,
(UB)
5.250
01/01/52
5,695,867
7,810,000
South
Jersey
Transportation
Authority,
New
Jersey,
Transportation
System
Revenue
Bonds,
Series
2020A
5.000
11/01/45
8,115,703
3,215,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5.000
06/01/36
3,309,724
1,405,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5.000
06/01/46
1,418,245
1,200,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B
5.000
06/01/46
1,203,945
TOTAL
NEW
JERSEY
160,399,209
NEW
MEXICO
-
0.4%
(0.2%
of
Total
Investments)
3,370,000
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2017A
5.000
08/01/46
3,431,478
7,000,000
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019A
4.000
08/01/48
6,510,703
1,505,000
Santa
Fe
County,
New
Mexico,
Correctional
System
Gross
Receipts
Tax
Revenue
Bonds,
Series
1997
-
AGM
Insured
6.000
02/01/27
1,548,202
TOTAL
NEW
MEXICO
11,490,383
NEW
YORK
-
13.3%
(7.9%
of
Total
Investments)
6,600,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Series
2009
0.000
07/15/44
2,658,588
490,000
Buffalo
and
Erie
County
Industrial
Land
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
System,
Inc.
Project,
Series
2015
5.250
07/01/35
486,874
4,000,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A,
(UB)
4.250
05/01/52
3,791,262
1,680,000
(c)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
North
Shore
Long
Island
Jewish
Obligated
Group,
Series
2015A,
(Pre-refunded
5/01/25)
4.125
05/01/42
1,683,838
3,195,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
North
Shore
Long
Island
Jewish
Obligated
Group,
Series
2015A
5.000
05/01/43
3,209,025
600,000
(b)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5.000
12/01/34
590,167
2,295,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
White
Plains
Hospital,
Series
2024
5.250
10/01/49
2,384,454
3,000,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2022A
5.000
03/15/46
3,173,003
20,000,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019D
4.000
02/15/47
19,123,486
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
3,760,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2017A
5.000
%
03/15/44
$
3,830,078
5,000,000
Liberty
Development
Corporation,
New
York,
Goldman
Sachs
Headquarter
Revenue
Bonds,
Series
2005
5.250
10/01/35
5,748,300
5,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2018
5.000
09/01/37
5,271,402
4,000,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Green
Series
2024A
5.250
11/15/54
4,346,134
10,000,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Refunding
Series
2012A
0.000
11/15/32
7,517,646
9,220,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024A
-
BAM
Insured
4.000
11/15/48
8,748,277
2,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2017D
4.000
11/15/42
1,933,405
8,715,000
(a)
Nassau
County,
New
York,
General
Obligation
Bonds,
General
Improvement
Series
2024A,
(UB)
4.000
04/01/54
8,246,292
740,000
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Taxable
Class
E
Series
2024
4.375
12/15/31
753,101
500,000
(d)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2.300
10/01/37
320,000
1,000,000
(d)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2.350
10/01/46
640,000
5,000,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
EE
4.000
06/15/42
4,990,155
3,255,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2021
Series
CC-1
4.000
06/15/51
3,090,144
6,140,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2023
Series
AA-1
5.250
06/15/52
6,598,958
2,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
A-1
5.000
05/01/40
2,033,789
5,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2019
Series
A-1
5.000
08/01/40
5,225,275
20,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2019
Subseries
C-1
4.000
11/01/42
19,668,802
9,530,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
B-1
4.000
08/01/45
9,236,835
5,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
F-1
5.000
02/01/47
5,265,260
6,250,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025C-1
4.000
05/01/51
5,953,834
3,530,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D
4.250
05/01/54
3,450,309
11,210,000
(a)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D,
(UB)
4.250
05/01/54
10,956,931
2,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025E
5.000
11/01/53
2,117,674
2,060,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2017
Series
B-1
5.000
12/01/41
2,107,587
2,000,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
F-1
5.000
03/01/43
2,119,102
3,000,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2022
Series
A-1
5.000
08/01/47
3,147,498
2,000,000
New
York
Convention
Center
Development
Corporation,
New
York,
Revenue
Bonds,
Hotel
Unit
Fee
Secured,
Refunding
Series
2015
5.000
11/15/45
2,004,521
55,000
New
York
Counties
Tobacco
Trust
I,
Tobacco
Settlement
Pass-
Through
Bonds,
Series
2000B
6.500
06/01/35
55,033
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
840,000
New
York
Counties
Tobacco
Trust
VI,
New
York,
Tobacco
Settlement
Pass-Through
Bonds,
Series
Series
2016A-1
5.625
%
06/01/35
$
854,709
27,820,000
(b)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014
5.000
11/15/44
27,839,452
7,210,000
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Series
2021A-1
4.000
03/15/55
6,835,177
10,000,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Green
Series
2023A
5.000
03/15/56
10,514,139
5,000,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Green
Series
2023A
5.000
03/15/63
5,231,380
13,370,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2020C
5.000
03/15/47
13,975,059
4,120,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2020C
5.000
03/15/50
4,285,052
2,000,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2022A
5.000
03/15/46
2,129,012
19,000,000
New
York
State
Urban
Development
Corporation,
State
Sales
Tax
Revenue
Bonds,
Empire
Series
2021A
4.000
03/15/47
18,266,176
14,390,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5.000
07/01/46
14,385,009
28,800,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5.250
01/01/50
28,798,350
6,115,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Revenue
Bonds,
Terminal
6
John
F
Kennedy
International
Airport
Redevelopment
Project,
Senior
Green
Series
2024A,
(AMT)
5.250
12/31/54
6,471,551
5,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Revenue
Bonds,
Terminal
6
John
F
Kennedy
International
Airport
Redevelopment
Project,
Senior
Green
Series
2024A,
(AMT)
5.500
12/31/60
5,285,536
75,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
(AMT)
5.000
08/01/26
75,084
5,940,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
(AMT)
5.000
08/01/31
5,946,683
3,105,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
(AMT)
5.250
08/01/31
3,241,921
10,060,000
(a)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5.000
06/30/54
10,307,030
8,305,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024
-
AGM
Insured,
(AMT)
5.250
06/30/60
8,642,528
9,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024,
(AMT)
5.500
06/30/60
9,444,189
2,790,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5.000
06/30/49
2,860,313
3,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
(AMT)
5.000
12/01/39
3,126,266
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
3,050,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
(AMT)
5.000
%
01/01/33
$
3,136,148
1,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
4.375
10/01/45
963,760
1,100,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
6.000
04/01/35
1,228,556
5,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Seventeen
Series
2019
5.000
11/01/44
5,196,422
2,835,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5.000
01/01/29
2,231,790
2,700,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5.000
01/01/34
2,055,208
4,455,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Real
Estate
Transfer
Tax
Revenue
Bonds,
MTA
Bridges
and
Tunnels,
TBTA
Capital
Lockbox
Fund,
Series
2025A
4.500
12/01/56
4,432,629
6,110,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-
City
Sales
Tax,
Series
2024A-1
5.250
05/15/64
6,535,737
1,250,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006
5.000
06/01/45
1,171,078
2,850,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006
5.000
06/01/48
2,663,766
820,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Series
2023
-
AGM
Insured
5.750
11/01/48
907,923
TOTAL
NEW
YORK
391,514,672
NORTH
CAROLINA
-
1.4%
(0.8%
of
Total
Investments)
2,500,000
Greater
Asheville
Regional
Airport
Authority,
North
Carolina,
Airport
System
Revenue
Bonds
Series
2022A
-
AGM
Insured,
(AMT)
5.500
07/01/47
2,680,514
7,555,000
North
Carolina
Department
of
Transportation,
Private
Activity
Revenue
Bonds,
I-77
Hot
Lanes
Project,
Series
2015,
(AMT)
5.000
06/30/54
7,425,173
4,160,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement
Series
54-A
4.700
07/01/50
4,170,427
11,145,000
North
Carolina
Medial
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Rex
Healthcare,
Series
2020A
4.000
07/01/49
10,600,904
1,570,000
North
Carolina
Medical
Care
Commission, Retirement
Facilities
First
Mortgage
Revenue
Bonds,
Southminster
Project,
Refunding
Series
2016
5.000
10/01/31
1,584,087
1,655,000
North
Carolina
Medical
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Deerfield
Episcopal
Retirement
Community,
Refunding
First
Mortgage
Series
2016
5.000
11/01/37
1,671,981
500,000
North
Carolina
Municipal
Power
Agency
1,
Catawba
Electric
Revenue
Bonds,
Refunding
Series
2015A
5.000
01/01/32
506,734
11,480,000
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Senior
Lien
Series
2019
5.000
01/01/49
11,744,389
1,100,000
Union
County,
North
Carolina,
Enterprise
System
Revenue
Bonds,
Series
2019A
4.000
06/01/44
1,081,061
TOTAL
NORTH
CAROLINA
41,465,270
NORTH
DAKOTA
-
0.4%
(0.2%
of
Total
Investments)
5,000,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2017A
4.000
12/01/47
4,342,596
520,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2023A
-
AGM
Insured
5.000
12/01/53
530,934
700,000
Grand
Forks,
North
Dakota,
Senior
Housing
&
Nursing
Facilities
Revenue
Bonds,
Valley
Homes
and
Services
Obligated
Group,
Series
2017
5.000
12/01/36
690,126
1,400,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5.000
05/01/50
1,414,866
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH
DAKOTA
(continued)
$
1,350,000
(a)
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2024A,
(UB)
4.750
%
01/01/52
$
1,342,293
3,000,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5.000
06/01/48
2,984,688
TOTAL
NORTH
DAKOTA
11,305,503
OHIO
-
4.1%
(2.4%
of
Total
Investments)
6,250,000
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
System,
Refunding
&
Improvement
Series
2016
5.250
11/15/46
6,308,509
6,000,000
Allen
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017A
4.000
08/01/36
6,051,986
22,740,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2
0.000
06/01/57
2,414,037
9,000,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2
5.000
06/01/55
8,107,805
3,960,000
Butler
County,
Ohio, Hospital
Facilities
Revenue
Bonds,
UC
Health,
Refunding
Series
2017
4.000
11/15/34
3,782,669
3,000,000
Butler
County,
Ohio, Hospital
Facilities
Revenue
Bonds,
UC
Health,
Refunding
Series
2017
4.000
11/15/35
2,841,291
2,000,000
Chillicothe,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Adena
Health
System
Obligated
Group
Project,
Refunding
&
Improvement
Series
2017
5.000
12/01/47
2,016,513
2,000,000
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Bridge
Park
D
Block
Project,
Series
2019A-1
5.000
12/01/51
1,998,407
1,000,000
County
of
Lucas,
Ohio,
Hospital
Revenue
Bonds,
ProMedica
Healthcare
Obligated
Group,
Series
2018A
5.250
11/15/48
1,007,177
4,795,000
Fairfield
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Fairfield
Medical
Center
Project,
Series
2013
5.000
06/15/43
4,226,526
5,000,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
TriHealth,
Inc.
Obligated
Group
Project,
Series
2017A
5.000
08/15/42
5,072,617
3,780,000
(b)
Jefferson
County
Port
Authority,
Ohio,
Economic
Development
Revenue
Bonds,
JSW
Steel
USA
Ohio,
Inc.
Project,
Series
2023,
(AMT),
(Mandatory
Put
12/01/28)
5.000
12/01/53
3,834,231
8,360,000
(c)
Lake
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Lake
Hospital
System,
Inc.,
Refunding
Series
2015,
(Pre-refunded
8/15/25)
5.000
08/15/45
8,445,060
2,000,000
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013
5.000
02/15/33
2,007,918
5,500,000
(b)
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
(AMT)
5.000
07/01/49
5,146,705
4,200,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
(Mandatory
Put
9/15/21)
3.375
08/01/29
4,121,674
1,000,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2009A,
(Mandatory
Put
6/01/22)
4.750
06/01/33
1,048,934
1,500,000
Ohio
Higher
Educational
Facility
Commission,
Higher
Educational
Facility
Revenue
Bonds,
John
Carroll
University
2020
Project,
Series
2020
4.000
10/01/50
1,265,022
2,000,000
Ohio
Higher
Educational
Facility
Commission,
Higher
Educational
Facility
Revenue
Bonds,
John
Carroll
University
2022
Project,
Series
2022
4.000
10/01/52
1,665,874
4,350,000
Ohio
Higher
Educational
Facility
Commission,
Revenue
Bonds,
University
of
Dayton,
Series
2015A
5.000
12/01/44
4,361,416
3,710,000
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructutre
Commission
Infrastructure
Projects,
Junior
Lien,
Capital
Appreciation
Series
2013A-3
5.800
02/15/36
4,215,302
3,375,000
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructutre
Commission,
Infrastructure
Projects,
Junior
Lien
Series
2018A
4.000
02/15/38
3,402,348
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
16,325,000
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructutre
Commission,
Infrastructure
Projects,
Junior
Lien
Series
2018A
5.000
%
02/15/43
$
16,799,845
5,450,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A
4.750
06/01/33
5,712,763
4,250,000
Pickerington
Local
School
District,
Fairfield
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
School
Facilities
Construction
&
Improvement,
Series
2023
5.250
12/01/59
4,521,616
3,770,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Duke
Energy
Convention
Center
Project,
TOT
First
Subordinate
Development
Revenue
Bonds,
Refunding
Series
2024B
-
AGM
Insured
4.250
12/01/48
3,687,301
6,000,000
West
Holmes
Local
School
District,
Ohio,
Certificates
of
Participation,
Series
2023
-
BAM
Insured
5.250
12/01/53
6,317,977
TOTAL
OHIO
120,381,523
OKLAHOMA
-
0.7%
(0.4%
of
Total
Investments)
1,700,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5.500
08/15/57
1,731,610
1,800,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022
5.500
08/15/41
1,858,139
6,815,000
Oklahoma
State
Turnpike
Authority,
Turnpike
System
Revenue
Bonds,
Second
Senior
Series
2017C
5.000
01/01/47
6,925,724
10,000,000
Oklahoma
State
Turnpike
Authority,
Turnpike
System
Revenue
Bonds,
Second
Senior
Series
2025A
4.250
01/01/55
9,817,463
1,000,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017
5.250
11/15/37
1,014,640
TOTAL
OKLAHOMA
21,347,576
OREGON
-
2.6%
(1.6%
of
Total
Investments)
1,500,000
Astoria
Hospital
Facilities
Authority,
Oregon,
Hospital
Revenue
Bonds,
Columbia
Memorial
Hospital
Project,
Series
2024
5.250
08/01/54
1,557,349
2,435,000
Beaverton
School
District
48J,
Washington
and
Multnomah
Counties,
Oregon,
General
Obligation
Bonds,
Convertible
Deferred
Interest
Series
2017D
5.000
06/15/36
2,531,038
725,000
Clackamas
County
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Rose
Villa
Inc.,
Series
2020A
5.250
11/15/50
722,907
4,875,000
Deschutes
County
Hospital
Facility
Authority,
Oregon,
Hospital
Revenue
Bonds,
Saint
Charles
Health
System,
Inc.,
Series
2016A
5.000
01/01/48
4,887,522
3,180,000
Oregon
Facilities
Authority,
Revenue
Bonds,
Legacy
Health
Project,
Series
2016A
5.000
06/01/46
3,192,964
2,410,000
Oregon
Facilities
Authority,
Revenue
Bonds,
Legacy
Health
Project,
Series
2022A
5.000
06/01/52
2,501,088
1,500,000
Oregon
Health
and
Science
University,
Revenue
Bonds,
Refunding
Series
2016B
5.000
07/01/39
1,527,055
4,250,000
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Green
Series
2023-29,
(AMT)
5.500
07/01/53
4,549,229
10,645,000
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Series
2017-24B,
(AMT)
5.000
07/01/47
10,710,175
15,440,000
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Health
Projects,
Refunding
Series
2016A
5.000
05/15/46
15,548,922
30,870,000
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Health
Projects,
Series
2019A
4.000
05/15/49
28,138,147
2,000,000
University
of
Oregon,
General
Revenue
Bonds,
Series
2018A
5.000
04/01/48
2,043,060
TOTAL
OREGON
77,909,456
PENNSYLVANIA
-
8.0%
(4.8%
of
Total
Investments)
13,000,000
(a)
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2021A,
(AMT),
(UB)
5.000
01/01/56
13,192,271
1,000,000
Allegheny
County
Sanitary
Authority,
Pennsylvania,
Sewer
Revenue
Bonds,
Series
2020B
4.000
06/01/45
975,879
1,765,000
Allegheny
County
Sanitary
Authority,
Pennsylvania,
Sewer
Revenue
Bonds,
Series
2020B
4.000
06/01/50
1,687,777
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
3,800,000
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
(Mandatory
Put
7/01/33)
4.750
%
01/01/35
$
3,966,548
345,000
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018
5.000
06/01/34
362,011
3,500,000
Delaware
River
Joint
Toll
Bridge
Commission,
New
Jersey
and
Pennsylvania,
Bridge
System
Revenue
Bonds,
Series
2017
5.000
07/01/37
3,616,342
8,385,000
Delaware
River
Joint
Toll
Bridge
Commission,
New
Jersey
and
Pennsylvania,
Bridge
System
Revenue
Bonds,
Series
2017
5.000
07/01/42
8,577,840
16,515,000
(a)
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
Penn
State
Health,
Series
2021,
(UB)
5.000
11/01/51
16,761,911
5,400,000
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Capital
Appreciation
Series
2013B
0.000
12/01/33
3,889,143
11,000,000
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Capital
Appreciation
Series
2013B
0.000
12/01/38
6,178,429
2,400,000
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A
5.000
09/01/35
2,494,304
5,410,000
(a)
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A,
(UB)
5.000
09/01/48
5,479,155
13,150,000
(a)
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2022B,
(UB)
5.000
05/01/57
13,405,409
235,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company,
Refunding
Series
2014,
(AMT)
5.500
11/01/44
235,388
1,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
PPL
Energy
Supply,
LLC
Project,
Refunding
Series
2009C,
(Mandatory
Put
6/01/27)
5.250
12/01/37
1,010,986
7,730,000
(a)
Pennsylvania
Economic
Development
Financing
Authority,
Pennsylvania,
Revenue
Bonds,
Villanova
University
Project,
Series
2024,
(UB)
4.000
08/01/54
7,367,444
2,000,000
(b)
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Covanta
Project,
Green
Series
2019A,
(AMT)
3.250
08/01/39
1,642,152
6,670,000
(a)
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2024B-1,
(UB)
4.250
11/01/48
6,458,199
12,920,000
(a)
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2024B-1,
(UB)
4.250
11/01/51
12,388,664
10,000,000
(a)
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2024B-2,
(UB)
4.375
11/01/54
9,770,568
4,000,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2024B-2
5.000
11/01/54
4,124,858
9,575,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Pennsylvania
Health
System,
Series
2019
4.000
08/15/44
9,338,079
6,000,000
(g)
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Pennsylvania
Trustees,
Series
2025A
4.250
02/15/55
5,860,912
12,000,000
(a)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4.600
10/01/49
12,057,299
3,000,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A
4.750
10/01/49
3,027,805
16,750,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Capital
Appreciation
Series
2009E
6.375
12/01/38
18,004,245
4,210,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2015B
5.000
12/01/45
4,233,343
7,235,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2021B
5.000
12/01/51
7,608,045
3,635,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2022B
5.250
12/01/52
3,915,904
14,500,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2009C
-
AGM
Insured
6.250
06/01/33
15,064,313
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
6,890,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2015B-1
5.000
%
12/01/45
$
6,915,298
7,500,000
Philadelphia
School
District,
Pennsylvania,
General
Obligation
Bonds,
Series
2021A
-
BAM
Insured
4.000
09/01/46
7,207,937
7,400,000
(a)
Philadelphia,
Pennsylvania,
Airport
Revenue
Bonds,
Refunding
Series
2017B,
(AMT),
(UB)
5.000
07/01/47
7,451,562
2,000,000
Union
County
Hospital
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Evangelical
Community
Hospital
Project,
Series
2018B
5.000
08/01/48
2,022,054
10,000,000
Westmoreland
County
Municipal
Authority,
Pennsylvania,
Municipal
Service
Revenue
Bonds,
Series
2016
-
BAM
Insured
5.000
08/15/38
10,078,979
TOTAL
PENNSYLVANIA
236,371,053
PUERTO
RICO
-
2.6%
(1.6%
of
Total
Investments)
2,380,000
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-
Backed
Bonds,
Refunding
Series
2002
5.500
05/15/39
2,393,140
90,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0.000
07/01/27
82,777
88,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0.000
07/01/29
75,430
114,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0.000
07/01/31
90,232
128,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0.000
07/01/33
93,369
1,093,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4.500
07/01/34
1,095,688
21,208,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0.000
07/01/51
5,131,055
11,965,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4.750
07/01/53
11,757,803
42,350,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5.000
07/01/58
42,361,752
3,875,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4.329
07/01/40
3,845,007
3,291,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4.329
07/01/40
3,265,527
20,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4.536
07/01/53
19,541
7,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4.784
07/01/58
6,901,310
TOTAL
PUERTO
RICO
77,112,631
RHODE
ISLAND
-
0.3%
(0.2%
of
Total
Investments)
3,320,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Lifespan
Obligated
Group,
Refunding
Series
2016
5.000
05/15/39
3,340,741
30,175,000
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A
0.000
06/01/52
5,305,568
TOTAL
RHODE
ISLAND
8,646,309
SOUTH
CAROLINA
-
5.5%
(3.3%
of
Total
Investments)
1,500,000
Lancaster
County,
South
Carolina,
Assessment
Revenue
Bonds,
Walnut
Creek
Improvement
District,
Series
2016A-1
5.000
12/01/37
1,500,005
7,500,000
Lexington
County
Health
Services
District,
Inc.,
South
Carolina,
Hospital
Revenue
Bonds,
Lexington
Medical
Center,
Series
2016
5.000
11/01/41
7,557,998
21,565,000
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2
-
AMBAC
Insured
0.000
01/01/30
17,835,944
1,250,000
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2
-
AGC
Insured
0.000
01/01/31
994,538
6,000,000
Rock
Hill,
South
Carolina,
Combined
Utility
System
Revenue
Bonds,
Series
2016
5.000
01/01/41
6,038,494
1,640,000
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Furman
University,
Refunding
Series
2015
5.000
10/01/45
1,653,717
3,500,000
(b)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Hilton
Head
Christian
Academy,
Series
2020
5.000
01/01/55
3,042,108
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
(continued)
$
1,000,000
(b)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2021A
5.000
%
06/15/51
$
822,723
10,000,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
4.500
11/01/54
9,889,278
10,000,000
(a)
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A,
(UB)
4.500
11/01/54
9,889,278
2,100,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
5.500
11/01/54
2,292,415
500,000
South
Carolina
Jobs-Economic
Development
Authority,
Healthcare
Revenue
Bonds,
Beaufort
Memorial
Hospital
&
South
of
Broad
Healthcare
Project,
Series
2024
5.750
11/15/54
524,224
10,060,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc,
Series
2020A
5.000
12/01/46
10,346,624
1,000,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018
5.000
11/01/43
1,027,709
2,500,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018
4.000
11/01/48
2,336,678
6,610,000
(a)
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018
5.000
11/01/48
6,747,693
6,610,000
(a)
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018,
(UB)
5.000
11/01/48
6,747,694
9,135,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2015A
5.000
12/01/50
9,142,023
9,750,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B
5.000
12/01/46
9,840,451
9,000,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B
5.000
12/01/56
9,052,502
2,500,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A
4.000
12/01/52
2,289,458
11,922,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022B
4.000
12/01/43
11,568,311
860,000
(c)
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2015,
(Pre-refunded
7/01/25),
(AMT)
5.250
07/01/55
867,067
4,140,000
(c)
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2015,
(Pre-refunded
7/01/25),
(AMT)
5.250
07/01/55
4,174,019
2,100,000
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2018,
(AMT)
5.000
07/01/48
2,113,839
2,750,000
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2018,
(AMT)
5.000
07/01/55
2,757,599
10,000,000
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2019B,
(AMT)
5.000
07/01/44
10,189,687
10,365,000
(a)
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2019B,
(AMT),
(UB)
5.000
07/01/54
10,428,370
TOTAL
SOUTH
CAROLINA
161,670,446
SOUTH
DAKOTA
-
0.6%
(0.4%
of
Total
Investments)
3,750,000
Clay
County,
South
Dakota,
General
Obligation
Bonds,
Series
2023
5.000
12/01/44
3,935,854
5,915,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Regional
Health,
Refunding
Series
2017
5.000
09/01/40
6,035,448
3,500,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2014B
5.000
11/01/44
3,501,805
5,165,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2015
5.000
11/01/45
5,188,927
TOTAL
SOUTH
DAKOTA
18,662,034
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TENNESSEE
-
2.1%
(1.2%
of
Total
Investments)
$
6,400,000
Cleveland
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Hamilton
Health
Care
System,
Inc.
Project,
Series
2024A
5.250
%
08/15/54
$
6,806,065
9,000,000
Greeneville
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Bonds,
Ballad
Health,
Series
2018A
5.000
07/01/36
9,301,736
17,000,000
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
Covenant
Health,
Refunding
Series
2016A
5.000
01/01/42
17,230,287
1,350,000
Knox
County
Health,
Educational,
and
Housing
Facilities
Board,
Revenue
Bonds,
Provident
Group
-
UTK
Properties
LLC
-
University
of
Tennessee
Project,
Student
Housing
Series
2024A-1
-
BAM
Insured
5.500
07/01/54
1,447,195
6,000,000
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
-
AGM
Insured
5.250
07/01/48
6,484,019
3,000,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Belmont
University,
Series
2023
5.250
05/01/48
3,203,240
4,500,000
(a)
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT),
(UB)
5.250
07/01/47
4,713,651
2,000,000
(a)
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT),
(UB)
5.500
07/01/52
2,121,190
3,505,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Revenue
Bonds,
Subordinate
Series
2019B,
(AMT)
5.000
07/01/49
3,572,763
2,005,000
(a)
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Social
Series
2024-1A,
(UB)
4.700
07/01/49
2,016,566
4,000,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006A
5.250
09/01/26
4,066,380
TOTAL
TENNESSEE
60,963,092
TEXAS
-
13.6%
(8.1%
of
Total
Investments)
1,975,000
Allen
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2016
5.000
02/15/39
2,002,958
2,600,000
(g)
Allen
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2025
4.375
02/15/50
2,600,638
3,430,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
-
Texas
Project,
Refunding
Series
2021A
4.375
02/15/51
2,652,216
3,000,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Lifeschool
of
Dallas
Series
2024
4.125
08/15/54
2,834,853
16,615,000
Austin,
Texas,
Airport
System
Revenue
Bonds,
Series
2019B,
(AMT)
5.000
11/15/44
16,946,452
17,300,000
(a)
Austin,
Texas,
Airport
System
Revenue
Bonds,
Series
2019B,
(AMT),
(UB)
5.000
11/15/48
17,550,672
3,000,000
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2015A
5.000
11/15/38
3,032,459
13,705,000
(a)
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2015A,
(UB)
5.000
11/15/45
13,823,632
1,450,000
Austin,
Texas,
Water
and
Wastewater
System
Revenue
Bonds,
Refunding
Series
2016
5.000
11/15/41
1,480,639
800,000
(b)
Bastrop
County,
Texas,
Special
Assessment
Revenue
Bonds,
Double
Eagle
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2024
5.500
09/01/54
787,004
4,390,000
Bastrop
Independent
School
District,
Bastrop
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023
5.000
02/15/53
4,613,217
2,000,000
Brownsville,
Texas,
Utility
System
Revenue
Bonds,
Refunding
Series
2015
5.000
09/01/31
2,018,336
625,000
(b)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Improvement
Area
2
Project
Series
2024
5.500
09/01/54
630,638
740,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Refunding
Series
2024
-
BAM
Insured
5.000
09/01/45
757,346
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,880,000
(b)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Initial
Major
Improvement
Project,
Series
2021
4.500
%
09/01/51
$
1,637,655
2,945,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2010
0.000
01/01/36
1,886,245
2,205,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2010
0.000
01/01/37
1,334,806
2,160,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2010
0.000
01/01/38
1,240,319
1,000,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2010
0.000
01/01/40
507,490
2,600,000
(c)
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2015A,
(Pre-refunded
7/01/25)
5.000
01/01/35
2,623,011
3,035,000
(c)
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2015A,
(Pre-refunded
7/01/25)
5.000
01/01/45
3,061,860
1,000,000
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2013A
4.350
12/01/42
945,440
1,000,000
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2013A
4.400
12/01/47
911,300
2,000,000
Dallas
Area
Rapid
Transit,
Texas,
Sales
Tax
Revenue
Bonds,
Refunding
&
Improvement
Senior
Lien
Series
2021B
5.000
12/01/47
2,084,909
1,680,000
(c)
Dallas
Area
Rapid
Transit,
Texas,
Sales
Tax
Revenue
Bonds,
Refunding
Series
2016A,
(Pre-refunded
12/01/25)
5.000
12/01/48
1,710,523
5,000,000
Dallas,
Texas,
Waterworks
and
Sewer
System
Revenue
Bonds,
Refunding
Series
2016A
5.000
10/01/41
5,083,055
5,000,000
Deer
Park
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2022
5.000
08/15/47
5,295,808
5,185,000
(a)
Denton
Independent
School
District,
Denton
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
5.000
08/15/53
5,474,022
8,120,000
Fredericksburg
Independent
School
District,
Gillespie,
Blanco,
and
Kendall
Counties,
Texas,
School
Building
Series
2022
5.000
02/15/47
8,597,636
7,375,000
(a)
Godley
Independent
School
District,
Texas,
General
Obligation
Bonds,
School
Building
Series
2022,
(UB)
5.000
02/15/54
7,706,270
1,000,000
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Refunding
First
Tier
Series
2020C
-
AGM
Insured
4.000
10/01/49
943,289
5,295,000
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2018A.
Tela
Supported
5.000
10/01/48
5,442,548
4,960,000
Gulf
Coast
Industrial
Development
Authority,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Citgo
Petroleum
Corporation
Project,
Series
1995,
(AMT)
4.875
05/01/25
4,960,873
5,000,000
(a)
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2022A,
(UB)
5.000
07/01/52
5,172,862
1,895,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015
4.000
12/01/45
1,785,195
4,850,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015
5.000
12/01/45
4,856,379
1,330,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Refunding
Bonds,
Young
Men's
Christian
Association
of
the
Greater
Houston
Area,
Series
2013A
5.000
06/01/28
1,329,986
3,000,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Refunding
Bonds,
Young
Men's
Christian
Association
of
the
Greater
Houston
Area,
Series
2013A
5.000
06/01/38
2,794,920
5,000,000
Harris
County
Flood
Control
District,
Texas,
General
Obligation
Bonds,
Refunding
Improvement,
Green
Series
2023A
4.000
09/15/48
4,755,605
5,150,000
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2016A
5.000
08/15/41
5,243,017
5,000,000
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2018A
4.000
08/15/48
4,683,969
510,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0.000
11/15/41
235,971
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,020,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0.000
%
11/15/42
$
447,865
1,255,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0.000
11/15/43
523,091
3,305,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0.000
11/15/44
1,307,485
4,460,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0.000
11/15/45
1,668,691
6,500,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0.000
11/15/47
2,183,036
50,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0.000
11/15/29
42,433
4,390,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0.000
11/15/29
3,725,605
105,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0.000
11/15/30
86,000
625,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0.000
11/15/30
511,901
4,065,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0.000
11/15/31
3,205,694
3,505,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0.000
11/15/31
2,690,977
210,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0.000
11/15/32
150,775
260,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
0.000
11/15/33
174,591
2,045,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0.000
11/15/34
1,284,407
210,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0.000
11/15/36
121,905
920,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0.000
11/15/36
505,024
695,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0.000
11/15/38
356,238
3,675,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0.000
11/15/38
1,756,589
675,000
(c)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0.000
11/15/39
325,020
1,585,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0.000
11/15/39
706,851
3,440,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Senior
Lien
Series
2001G
-
NPFG
Insured
0.000
11/15/41
1,366,132
5,000,000
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A
-
AGM
Insured,
(AMT)
5.250
07/01/53
5,261,681
5,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Technical
Operations
Center
Project,
Series
2018,
(AMT)
5.000
07/15/28
5,133,523
380,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2014,
(AMT)
5.000
07/01/29
380,224
1,885,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2020A,
(AMT)
5.000
07/01/27
1,922,304
1,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Refunding
Series
2020B-2,
(AMT)
5.000
07/15/27
1,020,084
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,015,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2014
5.000
%
09/01/34
$
1,016,247
3,250,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B
-
AMBAC
Insured
0.000
09/01/25
3,189,659
4,130,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B
-
AMBAC
Insured
0.000
09/01/26
3,917,864
3,130,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B
-
AMBAC
Insured
0.000
09/01/30
2,534,724
12,030,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B
-
AMBAC
Insured
0.000
09/01/31
9,323,801
1,470,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B
-
AMBAC
Insured
0.000
09/01/32
1,087,384
8,000,000
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015A
4.000
08/15/37
8,004,036
2,275,000
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015A
5.000
08/15/40
2,290,926
1,750,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
(AMT)
5.000
11/01/35
1,760,993
4,660,000
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2020A
5.000
05/15/50
4,815,305
9,180,000
Matagorda
County
Navigation
District
1,
Texas,
Collateralized
Revenue
Refunding
Bonds,
Houston
Light
and
Power
Company,
Series
1997
-
AMBAC
Insured,
(AMT)
5.125
11/01/28
9,557,720
1,000,000
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013
5.750
12/01/33
1,003,813
3,000,000
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013
6.125
12/01/38
3,011,192
3,470,000
Midland,
Texas,
General
Obligation
Bonds,
Refunding
Series
2022B
5.000
03/01/47
3,672,659
2,835,000
(b)
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
(AMT)
4.625
10/01/31
2,834,031
4,735,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
College
Station
I
LLC
-
Texas
A&M
University
Project,
Series
2014A
-
AGM
Insured
5.000
04/01/46
4,734,994
245,000
(c)
North
Central
Texas
Health
Facilities
Development
Corporation,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
System,
Series
1996A
-
NPFG
Insured,
(ETM)
5.750
06/01/26
250,256
3,860,000
North
Harris
County
Regional
Water
Authority,
Texas,
Water
Revenue
Bonds,
Refunding
Senior
Lien
Series
2013
5.000
12/15/33
3,864,709
4,030,000
(c)
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C,
(Pre-
refunded
9/01/31)
7.000
09/01/43
4,862,211
8,470,000
(c)
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C,
(Pre-
refunded
9/01/31)
6.750
09/01/45
10,261,856
2,500,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2008D
-
AGC
Insured
0.000
01/01/36
1,648,150
2,500,000
(b)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5.125
01/01/44
2,554,601
1,425,000
Port
of
Houston
Authority,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2010E
0.000
10/01/35
973,013
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,250,000
(b)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Southridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2024
5.500
%
09/01/54
$
1,260,026
205,000
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A
5.125
02/01/39
200,173
2,500,000
San
Antonio,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Series
2012,
(AMT)
5.000
07/01/27
2,502,602
7,950,000
(a)
San
Antonio,
Texas,
Water
System
Revenue
Bonds,
Junior
Lien
Series
2022B,
(UB)
5.250
05/15/52
8,506,201
5,000,000
Splendora
Independent
School
District,
Montgomery
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2024
5.000
02/15/54
5,265,647
1,925,000
Stephen
F.
Austin
State
University,
Texas,
Revenue
Bonds,
Refunding
&
Improvement
Series
2016
5.000
10/15/42
1,990,823
7,500,000
Tarrant
County
College
District,
Texas,
General
Obligation
Bonds,
Series
2022
5.000
08/15/40
8,149,190
5,675,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Methodist
Hospital
of
Dallas,
Series
2022
4.000
10/01/47
5,350,426
2,185,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Scott
&
White
Healthcare
Project,
Series
2022D
5.500
11/15/47
2,382,506
3,195,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Christus
Health,
Series
2022A
4.000
07/01/53
2,984,552
2,000,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Texas
Health
Resources
System,
Series
2016A
5.000
02/15/41
2,030,489
2,735,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
I,
Gas
Supply
Revenue
Bonds,
Senior
Lien
Series
2008D
6.250
12/15/26
2,826,744
8,330,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Revenue
Bonds,
NTE
Mobility
Partners
LLC
North
Tarrant
Express
Managed
Lanes
Project,
Senior
Lien
Series
2023,
(AMT)
5.500
12/31/58
8,910,624
15,985,000
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3C
Project,
Series
2019,
(AMT)
5.000
06/30/58
16,141,824
1,875,000
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A
5.000
08/01/57
1,897,332
10,000,000
(a)
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2017A,
(UB)
4.000
10/15/42
9,875,596
2,500,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2021
4.000
10/15/51
2,309,758
2,670,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2024A
4.250
10/15/51
2,606,890
10,000,000
(a)
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2024A,
(UB)
4.250
10/15/51
9,763,632
5,000,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2024A
4.375
10/15/54
4,976,399
5,000,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2024A
4.375
10/15/59
4,960,322
2,490,000
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Series
2018
5.000
09/01/40
2,493,257
125,000
Winter
Garden
Housing
Finance
Corporation,
Texas,
GNMA/
FNMA
Mortgage-Backed
Securities
Program
Single
Family
Mortgage
Revenue
Bonds,
Series
1994,
(AMT)
6.950
10/01/27
125,334
780,000
(c)
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
Capital
Appreciation
Series
2015,
(Pre-
refunded
8/15/25)
0.000
08/15/50
272,621
8,000,000
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2015B
0.000
08/15/45
2,896,692
1,000,000
(c)
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2015B,
(Pre-refunded
8/15/25)
0.000
08/15/45
434,061
4,370,000
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2015B
0.000
08/15/50
1,210,571
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,850,000
(c)
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2015B,
(Pre-refunded
8/15/25)
0.000
%
08/15/50
$
646,600
TOTAL
TEXAS
401,035,185
UTAH
-
1.4%
(0.9%
of
Total
Investments)
2,000,000
(b)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-1
5.125
06/15/54
1,954,024
11,750,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2018A,
(AMT)
5.000
07/01/43
11,933,485
15,665,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2021A,
(AMT)
5.000
07/01/46
16,024,358
1,645,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5.250
07/01/53
1,713,544
4,250,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5.500
07/01/53
4,527,772
1,705,000
(b)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Leadership
Learning
Academy
Project,
Series
2019A
5.000
06/15/39
1,685,970
1,670,000
(b)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Leadership
Learning
Academy
Project,
Series
2019A
5.000
06/15/50
1,565,073
3,180,000
(b)
Utah
Charter
School
Finance
Authority,
Revenue
Bonds,
Wallace
Stegner
Academy
Project,
Series
2019A
5.000
06/15/49
2,960,510
TOTAL
UTAH
42,364,736
VERMONT
-
0.1%
(0.1%
of
Total
Investments)
2,858,000
Vermont
Housing
Finance
Agency,
Multiple
Purpose
Bonds,
Social
Series
2024C
4.650
11/01/50
2,871,197
TOTAL
VERMONT
2,871,197
VIRGIN
ISLANDS
-
0.3%
(0.2%
of
Total
Investments)
3,825,000
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A
5.000
10/01/32
4,036,183
1,800,000
(b)
Virgin
Islands
Public
Finance
Authority,
Federal
Highway
Grant
Anticipation
Loan
Note
Revenue
Bonds,
Series
2015
5.000
09/01/33
1,809,915
2,000,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2006
-
FGIC
Insured
5.000
10/01/27
2,023,692
2,240,000
(b)
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Working
Capital
Series
2014A
-
AGM
Insured
5.000
10/01/34
2,242,493
TOTAL
VIRGIN
ISLANDS
10,112,283
VIRGINIA
-
2.3%
(1.4%
of
Total
Investments)
285,000
Amherst
Industrial
Development
Authority,
Virginia,
Revenue
Bonds,
Sweet
Briar
College,
Series
2006
5.000
09/01/26
283,413
1,435,000
Arlington
County
Industrial
Development
Authority,
Virginia,
Hospital
Facility
Revenue
Bonds,
Virginia
Hospital
Center,
Series
2020
4.000
07/01/45
1,376,282
515,000
Chesapeake,
Virginia,
Transportation
System
Senior
Toll
Road
Revenue
Bonds,
Capital
Appreciation
Series
2012B
4.875
07/15/40
526,860
1,000,000
Fairfax
County
Redevelopment
and
Housing
Authority,
Virginia,
Multifamily
Housing
Revenue
Bonds,
FHA-Insured
Mortgage
-
Cedar
Ridge
Project,
Series
2007,
(AMT)
4.850
10/01/48
999,989
11,555,000
(a)
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Series
2022A,
(UB)
4.000
07/01/52
10,944,645
350,000
James
City
County
Economic
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Williamsburg
Landing
Inc.,
Series
2024A
6.875
12/01/58
385,036
2,300,000
Lynchburg
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Centra
Health
Obligated
Group,
Refunding
Series
2021
4.000
01/01/47
2,159,347
6,250,000
Northern
Virginia
Transportation
Commission,
Transportation
District
Special
Obligation
Revenue
Bonds,
Transforming
Rail
In
Virginia
Program,
Green
Series
2022
5.000
06/01/47
6,654,753
6,115,000
Tobacco
Settlement
Financing
Corporation
of
Virginia,
Tobacco
Settlement
Asset
Backed
Bonds,
Series
2007B1
5.000
06/01/47
5,964,781
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
(continued)
$
1,500,000
Virginia
Beach
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Westminster
Canterbury
on
Chesapeake
Bay,
Series
2023A
7.000
%
09/01/53
$
1,702,209
1,000,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-I
4.550
10/01/49
1,000,980
10,000,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5.000
12/31/52
10,049,573
16,605,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5.000
12/31/56
16,667,868
9,625,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5.000
12/31/47
9,865,239
TOTAL
VIRGINIA
68,580,975
WASHINGTON
-
3.1%
(1.8%
of
Total
Investments)
2,375,000
(c)
Grant
County
Public
Utility
District
2,
Washington,
Revenue
Bonds,
Priest
Rapids
Hydroelectric
Project,
Refunding
Series
2015A,
(Pre-refunded
1/01/26)
5.000
01/01/41
2,421,410
5,090,000
King
County
Public
Hospital
District
2,
Washington,
General
Obligation
Bonds,
EvergreenHealth,
Limited
Tax
2020A
4.000
12/01/45
4,666,943
2,270,000
Port
Everett,
Washington,
Revenue
Bonds,
Refunding
Series
2016
5.000
12/01/46
2,306,693
15,220,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2018A,
(AMT),
(UB)
5.000
05/01/43
15,477,560
13,725,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2021C,
(AMT)
5.000
08/01/46
14,121,548
15,000,000
Seattle,
Washington,
Municipal
Light
and
Power
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A
4.000
07/01/47
14,447,148
10,000,000
Seattle,
Washington,
Municipal
Light
and
Power
Revenue
Bonds,
Refunding
&
Improvement
Series
2023
5.000
03/01/53
10,539,339
4,000,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Refunding
Series
2012A
5.000
10/01/32
4,009,030
12,260,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Seattle
Children's
Hospital,
Series
2015A
5.000
10/01/45
12,268,615
6,200,000
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Series2021B.
Exchange
Purchase
3.000
07/01/58
4,280,836
4,000,000
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Series
2018
5.000
07/01/58
4,057,431
2,410,000
Washington
State
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Seattle
University,
Series
2020
4.000
05/01/50
2,151,428
305,000
Washington
State
Housing
Finance
Commission,
Revenue
Bonds,
Riverview
Retirement
Community,
Refunding
Series
2012
5.000
01/01/48
286,769
TOTAL
WASHINGTON
91,034,750
WEST
VIRGINIA
-
0.3%
(0.2%
of
Total
Investments)
1,000,000
(b)
South
Charleston,
West
Virginia,
Special
District
Excise
Tax
Revenue
Improvement
Bonds,
South
Charleston
Park
Place
Project,
Series
2022A
4.500
06/01/50
803,886
5,000,000
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System
Obligated
Group,
Improvement
Series
2017A
5.000
06/01/47
5,051,220
3,000,000
West
Virginia
Parkways
Authority,
Turnpike
Toll
Revenue
Bonds,
Senior
Lien
Series
2021
4.000
06/01/43
2,934,978
TOTAL
WEST
VIRGINIA
8,790,084
WISCONSIN
-
4.7%
(2.8%
of
Total
Investments)
3,235,000
Milwaukee,
Wisconsin,
General
Obligation
Bonds,
Promissory
Note
Series
2022-B4
-
AGM
Insured
5.000
04/01/36
3,508,138
1,325,000
(b)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A
5.000
06/15/39
1,254,664
2,000,000
(b)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A
5.000
06/15/49
1,773,462
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
1,000,000
(b)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
High
Desert
Montessori
Charter
School,
Series
2021A
5.000
%
06/01/51
$
805,574
34,226
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/47
997
29,918
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/48
823
29,439
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/49
762
28,482
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/50
683
28,003
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/51
635
36,381
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/52
767
35,902
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/53
716
34,705
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/54
651
33,987
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/55
602
33,269
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/56
560
1,810,675
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
5.500
07/01/56
1,356,385
36,859
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/57
584
35,902
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/58
538
34,944
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/59
498
34,226
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/60
458
33,748
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/61
425
32,790
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/62
391
32,072
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/63
363
31,354
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/64
338
30,876
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/65
312
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
33,269
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
%
01/01/66
$
312
400,670
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0.000
01/01/67
3,406
59,473
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/46
1,872
58,635
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/47
1,707
58,216
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/48
1,601
57,797
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/49
1,495
56,960
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/50
1,366
62,405
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/51
1,416
1,606,485
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
3.750
07/01/51
1,126,807
61,986
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/52
1,307
61,149
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/53
1,220
60,730
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/54
1,139
59,892
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/55
1,061
59,054
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/56
994
58,635
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/57
930
57,797
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/58
866
57,379
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/59
817
56,960
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/60
762
56,123
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/61
707
55,704
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/62
664
54,866
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/63
621
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
54,447
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
%
01/01/64
$
587
54,028
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/65
547
53,191
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/66
499
692,746
(b),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0.000
01/01/67
5,889
5,455,000
(a)
Public
Finance
Authority
of
Wisconsin,
Health
Care
System
Revenue
Bonds,
Cone
Health,
Series
2022A,
(UB)
4.000
10/01/52
4,911,707
2,000,000
(b)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6.750
12/01/42
2,033,565
2,500,000
(b)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
7.000
12/01/50
2,546,852
2,549,679
Public
Finance
Authority
Wisconsin,
Tax
Exempt
Pooled
Securities,
Certificates
Series
2024-2
Class
A,
(Mandatory
Put
8/01/27)
4.000
08/01/59
2,520,522
5,330,000
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2024A
5.000
06/15/64
5,320,917
4,210,000
(b)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Senior
Bonds,
World
Center
Project
Series
2024A
5.000
06/01/41
4,330,059
4,695,000
University
of
Wisconsin
Hospitals
and
Clinics
Authority,
Revenue
Bonds,
Sustainability
Series
2024A
4.250
04/01/52
4,491,248
270,000
(c)
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2013B-1,
(Pre-refunded
5/15/28)
4.000
11/15/43
278,844
2,275,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2013B-1
4.000
11/15/43
2,145,534
10,715,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Aspirus,
Inc.
Obligated
Group,
Inc.
Project,
Series
2021
4.000
08/15/46
10,256,432
5,810,000
(a)
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Bellin
Memorial
Hospital
Incorporated
Series
2022B,
(UB)
5.250
12/01/48
6,127,431
1,690,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
PHW
Muskego,
Inc.
Project,
Series
2021
4.000
10/01/41
1,437,065
2,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
PHW
Muskego,
Inc.
Project,
Series
2021
4.000
10/01/61
1,450,787
10,345,000
(a)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Aspirus,
Inc.
Obligated
Group,
Series
2017,
(UB)
5.000
08/15/52
10,426,176
4,220,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Children's
Hospital
of
Wisconsin,
Inc.,
Series
2017
4.000
08/15/42
4,026,450
4,315,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic
Health
System
Inc
Series
2024A
5.500
02/15/54
4,647,829
11,440,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016A
5.000
02/15/42
11,451,324
7,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016A
5.000
02/15/46
6,872,783
2,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Oakwood
Lutheran
Senior
Ministries,
Series
2021
4.000
01/01/47
1,718,754
10,235,000
(a)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
John's
Communities
Inc.,
Refunding
Series
2022A,
(UB)
5.000
04/01/52
10,578,093
8,770,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
ThedaCare
Inc,
Series
2019
4.000
12/15/49
7,939,054
Portfolio
of
Investments
January
31,
2025
(continued)
NAD
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
11,720,000
(a)
Wisconsin
Housing
and
Economic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Social
Series
2024A,
(UB)
4.750
%
09/01/50
$
11,789,005
12,500,000
(a)
Wisconsin
Housing
and
Economic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Social
Series
2024B,
(UB)
4.750
03/01/51
12,460,587
TOTAL
WISCONSIN
139,628,936
TOTAL
MUNICIPAL
BONDS
(Cost
$4,872,229,428)
4,940,261,545
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$4,872,760,039)
4,940,690,896
FLOATING
RATE
OBLIGATIONS
-
(13.8)%
(407,580,000)
AMTP
SHARES,
NET
-
(24.6)%(h)
(727,321,185)
MFP
SHARES,
NET
-
(14.2)%(i)
(420,444,662)
VRDP
SHARES,
NET
-
(17.1)%(j)
(503,904,784)
OTHER
ASSETS
&
LIABILITIES,
NET
- 2.4%
71,373,279
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
-
100%
$
2,952,813,544
AMT
Alternative
Minimum
Tax
ETM
Escrowed
to
maturity
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
(a)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(b)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$240,843,088
or
4.9%
of
Total
Investments.
(c)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(d)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(e)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(f)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(g)
When-issued
or
delayed
delivery
security.
(h)
AMTP
Shares,
Net
as
a
percentage
of
Total
Investments
is
14.7%.
(i)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
8.5%.
(j)
VRDP
Shares,
Net
as
a
percentage
of
Total
Investments
is
10.2%.
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
NAD
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Investment
Companies
$
429,351
$
–
$
–
$
429,351
Municipal
Bonds
–
4,940,223,271
38,274
4,940,261,545
Total
$
429,351
$
4,940,223,271
$
38,274
$
4,940,690,896