|
Principal Amount
|
Value
|
|
|
Municipal Notes 175.1%
|
||
|
Alabama 5.2%
|
||
|
$3,125,000
|
Energy Southeast A Cooperative District Revenue, Series 2023 A-1, 5.50%, due 11/1/2053
Putable
1/1/2031
|
$3,362,599
|
|
9,000,000
|
Mobile County Industrial Development Authority Revenue (AM/NS Calvert LLC Project),
Series 2024-A, 5.00%, due 6/1/2054
|
8,183,046
|
|
5,000,000
|
Southeast Energy Authority A Cooperative District Revenue, Series 2025-A, 5.00%, due
1/1/2056
Putable 6/1/2035
|
5,044,758
|
|
|
|
16,590,403
|
|
American Samoa 0.9%
|
||
|
2,800,000
|
American Samoa Economic Development Authority General Revenue Refunding, Series 2015-A,
6.25%, due 9/1/2029
|
2,810,552
|
|
Arizona 0.8%
|
||
|
500,000
|
Maricopa County Industrial Development Authority Education Revenue Refunding (Paradise
School
Project Paragon Management, Inc.), Series 2016, 5.00%, due 7/1/2036
|
495,157
(a)
|
|
770,000
|
Navajo Nation Revenue Refunding, Series 2015-A, 5.00%, due 12/1/2025
|
772,782
(a)
|
|
1,500,000
|
Sierra Vista Industrial Development Authority Revenue (American Leadership Academy
Project),
Series 2024, 5.00%, due 6/15/2054
|
1,268,084
(a)
|
|
|
|
2,536,023
|
|
California 27.0%
|
||
|
1,000,000
|
California Educational Facilities Authority Revenue (Green Bond- Loyola Marymount
University),
Series 2018-B, 5.00%, due 10/1/2048
|
1,000,586
|
|
|
California Educational Facilities Authority Revenue Refunding (University of Redlands)
|
|
|
250,000
|
Series 2016-A, 5.00%, due 10/1/2028
|
252,619
|
|
260,000
|
Series 2016-A, 3.00%, due 10/1/2029
|
253,393
|
|
400,000
|
Series 2016-A, 3.00%, due 10/1/2030
|
384,908
|
|
480,000
|
California Infrastructure & Economic Development Bank Revenue (Wonderful Foundations
Charter
School Portfolio Project), Series 2020-A-1, 5.00%, due 1/1/2055
|
398,184
(a)
|
|
|
California Municipal Finance Authority Charter School Lease Revenue (Sycamore Academy
Project)
|
|
|
630,000
|
Series 2014, 5.13%, due 7/1/2029
|
630,241
(a)
|
|
1,000,000
|
Series 2014, 5.63%, due 7/1/2044
|
954,505
(a)
|
|
760,000
|
California Municipal Finance Authority Charter School Lease Revenue (Vista Charter
Middle School
Project), Series 2014, 5.13%, due 7/1/2029
|
760,322
|
|
|
California Municipal Finance Authority Charter School Revenue (John Adams Academics
Project)
|
|
|
55,000
|
Series 2015-A, 4.50%, due 10/1/2025
|
55,003
|
|
1,115,000
|
Series 2019-A, 5.00%, due 10/1/2049
|
964,054
(a)
|
|
1,500,000
|
California Municipal Finance Authority Charter School Revenue (Palmdale Aerospace
Academy
Project), Series 2016, 5.00%, due 7/1/2031
|
1,478,529
(a)
|
|
1,070,000
|
California Municipal Finance Authority Revenue (Baptist University), Series 2015-A,
5.00%, due
11/1/2030
|
1,072,109
(a)
|
|
|
California Municipal Finance Authority Revenue (Northbay Healthcare Group)
|
|
|
350,000
|
Series 2015, 5.00%, due 11/1/2035
|
349,998
|
|
500,000
|
Series 2015, 5.00%, due 11/1/2040
|
473,165
|
|
300,000
|
Series 2015, 5.00%, due 11/1/2044
|
277,961
|
|
500,000
|
Series 2017-A, 5.25%, due 11/1/2036
|
501,217
|
|
2,000,000
|
California Municipal Finance Authority Student Housing Revenue (CHF-Davis I LLC-West
Village
Student Housing Project), Series 2018, (BAM), 4.00%, due 5/15/2048
|
1,725,184
|
|
1,500,000
|
California School Facility Finance Authority Revenue (Green Dot Public School Project),
Series 2018-A, 5.00%, due 8/1/2048
|
1,408,666
(a)
|
|
400,000
|
California School Finance Authority Revenue (Alliance College - Ready Public School
Project),
Series 2015-A, 5.00%, due 7/1/2030
|
400,441
(a)
|
|
Principal Amount
|
Value
|
|
|
California – cont'd
|
||
|
$1,000,000
|
California State General Obligation, Series 2022, 5.00%, due 9/1/2052
|
$1,017,343
|
|
2,000,000
|
California State Pollution Control Financing Authority Revenue (San Jose Water Co.
Project),
Series 2016, 4.75%, due 11/1/2046
|
1,800,968
|
|
2,549,157
|
California State Pollution Control Financing Authority Solid Waste Disposal Revenue
(Calplant I
Green Bond Project), Series 2019, 7.50%, due 12/1/2039
|
25
(a)(b)
|
|
2,760,000
|
California State Pollution Control Financing Authority Water Furnishing Revenue, Series
2012,
5.00%, due 7/1/2027
|
2,773,952
(a)
|
|
415,000
|
California State School Finance Authority Charter School Revenue (Downtown College
Prep-Obligation Group), Series 2016, 4.50%, due 6/1/2031
|
249,000
(a)(b)
|
|
400,000
|
California State School Finance Authority Charter School Revenue (Rocketship Education),
Series 2016-A, 5.00%, due 6/1/2031
|
400,190
(a)
|
|
1,325,000
|
California Statewide Communities Development Authority Hospital Revenue (Methodist
Hospital of
Southern Project), Series 2018, 4.25%, due 1/1/2043
|
1,240,024
|
|
500,000
|
California Statewide Communities Development Authority Revenue (Loma Linda University
Medical
Center), Series 2018-A, 5.50%, due 12/1/2058
|
481,875
(a)
|
|
600,000
|
California Statewide Communities Development Authority Revenue Refunding (Lancer Education
Student Housing Project), Series 2016-A, 5.00%, due 6/1/2036
|
600,609
(a)
|
|
1,500,000
|
California Statewide Communities Development Authority Revenue Refunding (Loma Linda
University Medical Center), Series 2014-A, 5.25%, due 12/1/2029
|
1,501,423
|
|
1,500,000
|
California Statewide Communities Development Authority Revenue Refunding (Redlands
Community Hospital), Series 2016, 4.00%, due 10/1/2041
|
1,340,978
|
|
425,000
|
California Statewide Communities Development Authority Special Tax Revenue Refunding
(Community Facility District No. 2007-01 Orinda Wilder Project), Series 2015, 4.50%,
due 9/1/2025
|
425,387
|
|
500,000
|
California Statewide Communities Development Authority Student Housing Revenue Refunding
(Baptist University), Series 2017-A, 5.00%, due 11/1/2032
|
506,625
(a)
|
|
1,500,000
|
Foothill-Eastern Transportation Corridor Agency Toll Road Revenue Refunding, Subseries
2014-B2,
3.50%, due 1/15/2053
|
1,154,726
|
|
1,000,000
|
Imperial Community College District General Obligation Capital Appreciation (Election
2010),
Series 2011-A, (AG), 6.75%, due 8/1/2040 Pre-Refunded 8/1/2025
|
1,000,000
|
|
545,000
|
Inglewood Unified School District Facilities Financing Authority Revenue, Series 2007,
(AG), 5.25%,
due 10/15/2026
|
549,755
|
|
|
Irvine Special Tax (Community Facility District No. 2005-2)
|
|
|
450,000
|
Series 2013, 4.00%, due 9/1/2025
|
450,386
|
|
645,000
|
Series 2013, 3.50%, due 9/1/2026
|
645,352
|
|
690,000
|
Series 2013, 3.63%, due 9/1/2027
|
690,297
|
|
1,775,000
|
Los Angeles Department of Airports Revenue, Series 2022-G, 4.00%, due 5/15/2047
|
1,537,121
|
|
500,000
|
Los Angeles Department of Water & Power Revenue Refunding, Series 2025-A, (BAM), 5.00%,
due
7/1/2053
|
497,710
|
|
3,000,000
|
North Orange County Community College District General Obligation, Series 2022-C,
4.00%, due
8/1/2047
|
2,696,073
|
|
5,125,000
|
Norwalk-La Mirada Unified School District General Obligation Capital Appreciation
(Election 2002),
Series 2009-E, (AG), 5.50%, due 8/1/2029
|
5,506,398
|
|
5,000,000
|
Redondo Beach Unified School District General Obligation, Series 2009, 6.38%, due
8/1/2034
Pre-Refunded 8/1/2026
|
5,197,218
|
|
|
Romoland School District Special Tax Refunding (Community Facilities District No.
2006-1)
|
|
|
100,000
|
Series 2017, 4.00%, due 9/1/2029
|
101,292
|
|
200,000
|
Series 2017, 4.00%, due 9/1/2030
|
201,922
|
|
525,000
|
Series 2017, 3.25%, due 9/1/2031
|
512,745
|
|
1,700,000
|
Sacramento Area Flood Control Agency Refunding (Consol Capital Assessment District
No. 2),
Series 2016-A, 5.00%, due 10/1/2047
|
1,702,801
|
|
400,000
|
Sacramento City Finance Authority Revenue Refunding (Master Lease Program Facilities),
Series 2006-E, (AMBAC), 5.25%, due 12/1/2026
|
415,330
|
|
500,000
|
Sacramento Special Tax (Natomas Meadows Community Facilities District No. 2007-01),
Series 2017,
5.00%, due 9/1/2047
|
487,071
(a)
|
|
Principal Amount
|
Value
|
|
|
California – cont'd
|
||
|
$2,000,000
|
San Luis Coastal Unified School District General Obligation (Election 2022), Series
2023-A, 4.00%,
due 8/1/2053
|
$1,720,270
|
|
6,000,000
|
San Mateo Foster City School District General Obligation Capital Appreciation (Election
2008),
Series 2010, 6.13%, due 8/1/2032
|
6,584,221
|
|
2,000,000
|
Sweetwater Union High School District Public Financing Authority Revenue, Series 2013,
(BAM),
5.00%, due 9/1/2025
|
2,003,330
|
|
2,000,000
|
Twin Rivers Unified School District General Obligation (Election 2022), Series 2023-A,
(BAM),
4.13%, due 8/1/2047
|
1,791,853
|
|
12,070,000
|
Victor Valley Community College District General Obligation Capital Appreciation (Election
2008),
Series 2009-C, 6.88%, due 8/1/2037
|
13,522,122
|
|
5,095,000
|
Victor Valley Joint Union High School District General Obligation Capital Appreciation
Bonds,
Series 2009, (AG), 0.00%, due 8/1/2026
|
4,954,485
|
|
5,250,000
|
Wiseburn School District General Obligation Capital Appreciation (Election 2010),
Series 2011-B,
(AG), 0.00%, due 8/1/2036
|
5,919,708
(c)(d)
|
|
|
|
85,521,670
|
|
Colorado 1.8%
|
||
|
1,603,000
|
Platte River Metropolitan District General Obligation Refunding, Series 2023-A, 6.50%,
due
8/1/2053
|
1,586,255
(a)
|
|
2,700,000
|
Pueblo Urban Renewal Authority Tax Increment Revenue (Evraz Project), Series 2021-A,
4.75%, due
12/1/2045
|
2,381,328
(a)
|
|
4,566,666
|
Villages at Castle Rock Metropolitan District No. 6 (Cabs - Cobblestone Ranch Project),
Series 2007-2, 0.00%, due 12/1/2037
|
1,754,696
|
|
|
|
5,722,279
|
|
Connecticut 2.8%
|
||
|
4,585,000
|
Norwalk Housing Authority Revenue (Monterey Village Apartments), Class PT, Series
2024, (FNMA),
4.40%, due 9/1/2042
|
4,342,047
|
|
1,000,000
|
Stamford Housing Authority Revenue Refunding (Mozaic Concierge Living Project), Series
2025-D,
6.50%, due 10/1/2055
|
983,756
|
|
3,710,000
|
Waterbury Housing Authority Revenue (Laurel Estates Preservation Project), Series
2025-A, (FHLMC),
(HUD), 4.50%, due 2/1/2042
|
3,595,719
|
|
|
|
8,921,522
|
|
District of Columbia 0.2%
|
||
|
650,000
|
District of Columbia Student Dormitory Revenue (Provident Group-Howard Property),
Series 2013,
5.00%, due 10/1/2045
|
582,427
|
|
Florida 5.2%
|
||
|
800,000
|
Capital Trust Agency Senior Living Revenue (H-Bay Ministries, Inc. Superior Residences-Third
Tier),
Series 2018-C, 7.50%, due 7/1/2053
|
14,000
(a)(b)
|
|
2,000,000
|
Capital Trust Agency Senior Living Revenue (Wonderful Foundations School Project),
Series 2020-A-1, 5.00%, due 1/1/2055
|
1,636,200
(a)
|
|
270,000
|
Cityplace Community Development District Special Assessment Revenue Refunding, Series
2012,
5.00%, due 5/1/2026
|
273,273
|
|
1,420,000
|
Florida Development Finance Corp. Education Facilities Revenue (Renaissance Charter
School, Inc.),
Series 2014-A, 5.75%, due 6/15/2029
|
1,421,224
(a)
|
|
1,075,000
|
Florida Development Finance Corp. Education Facilities Revenue Refunding (Pepin Academies,
Inc.),
Series 2016-A, 5.00%, due 7/1/2036
|
1,031,581
|
|
2,000,000
|
Florida Development Finance Corp. Revenue (Brightline Florida Passenger Rail Expansion
Project),
Series 2025-A, 8.25%, due 7/1/2057 Putable 8/13/2025
|
1,700,005
(a)
|
|
3,400,000
|
Florida Development Finance Corp. Revenue (Tampa General Hospital Project), Series
2024-A,
4.50%, due 8/1/2055
|
2,946,369
|
|
2,000,000
|
Lee County Airport Revenue, Series 2024, 5.25%, due 10/1/2049
|
2,008,326
|
|
Principal Amount
|
Value
|
|
|
Florida – cont'd
|
||
|
$4,000,000
|
Orange County Health Facilities Authority Revenue (Orlando Health Obligated Group),
Series 2025-A, 4.50%, due 10/1/2056
|
$3,551,216
|
|
670,000
|
Village Community Development District No. 11 Special Assessment Revenue, Series 2014,
4.13%,
due 5/1/2029
|
670,334
|
|
945,000
|
Village Community Development District No. 13 Special Assessment Revenue, Series 2019,
3.70%,
due 5/1/2050
|
711,429
|
|
700,000
|
Village Community Development District No. 15 Special Assessment Revenue, Series 2024,
4.80%,
due 5/1/2055
|
623,850
(a)
|
|
|
|
16,587,807
|
|
Georgia 3.3%
|
||
|
700,000
|
Atlanta Development Authority Revenue (Westside Gulch Area Project), Series 2024-A,
5.50%, due
4/1/2039
|
698,242
(a)
|
|
2,000,000
|
Atlanta Urban Residential Finance Authority Revenue, Series 2024-A, (FNMA), 4.85%,
due 9/1/2043
|
1,973,418
|
|
|
Main Street Natural Gas, Inc. Gas Supply Revenue
|
|
|
6,000,000
|
Series 2022-C, 4.00%, due 8/1/2052 Putable 11/1/2027
|
5,992,219
(a)
|
|
1,600,000
|
Series 2024-C, 5.00%, due 12/1/2054 Putable 12/1/2031
|
1,681,475
|
|
|
|
10,345,354
|
|
Guam 1.5%
|
||
|
|
Antonio B Won Pat International Airport Authority Revenue Refunding
|
|
|
525,000
|
Series 2023-A, 5.38%, due 10/1/2040
|
539,243
|
|
750,000
|
Series 2023-A, 5.38%, due 10/1/2043
|
757,207
|
|
|
Guam Power Authority Revenue
|
|
|
1,000,000
|
Series 2022-A, 5.00%, due 10/1/2035
|
1,071,122
|
|
1,035,000
|
Series 2022-A, 5.00%, due 10/1/2036
|
1,098,000
|
|
1,075,000
|
Series 2022-A, 5.00%, due 10/1/2037
|
1,131,634
|
|
|
|
4,597,206
|
|
Idaho 0.1%
|
||
|
350,000
|
Idaho Health Facilities Authority Revenue Refunding (St. Lukes Health System), (LOC:
U.S. Bank
N.A.), Series 2018-C, 2.80%, due 3/1/2048
|
350,000
(e)
|
|
Illinois 10.4%
|
||
|
5,705,000
|
Berwyn General Obligation, Series 2013-A, 5.00%, due 12/1/2027
|
5,709,010
|
|
1,250,000
|
Chicago Midway International Airport Revenue Refunding, Series 2023-A, (BAM), 5.50%,
due
1/1/2053
|
1,268,900
|
|
|
Chicago O'Hare International Airport Revenue
|
|
|
4,100,000
|
Series 2022-A, 5.00%, due 1/1/2055
|
3,968,912
|
|
2,500,000
|
Series 2024-A, 5.50%, due 1/1/2059
|
2,544,782
|
|
3,000,000
|
Chicago Refunding General Obligation, Series 2017-A, 6.00%, due 1/1/2038
|
3,047,276
|
|
4,250,000
|
Illinois Finance Authority Revenue (CenterPoint Joliet Terminal Railroad Project),
Series 2010, 4.80%,
due 12/1/2043 Putable 7/2/2035
|
4,245,367
(a)
|
|
1,560,000
|
Illinois Finance Authority Revenue Refunding (Presence Health Network Obligated Group),
Series 2016-C, 5.00%, due 2/15/2031
|
1,601,696
|
|
|
Illinois State General Obligation
|
|
|
5,200,000
|
Series 2017-D, 5.00%, due 11/1/2028
|
5,420,434
|
|
775,000
|
Series 2021-A, 5.00%, due 3/1/2046
|
753,922
|
|
5,000,000
|
Series 2023-B, 4.50%, due 5/1/2048
|
4,395,504
|
|
|
|
32,955,803
|
|
Principal Amount
|
Value
|
|
|
Indiana 0.7%
|
||
|
$2,000,000
|
Indianapolis Local Public Improvement Bond Bank Revenue (Convention Center Hotel),
Series 2023-E, 6.13%, due 3/1/2057
|
$2,051,206
|
|
Kansas 0.2%
|
||
|
720,000
|
Goddard Kansas Sales Tax Special Obligation Revenue (Olympic Park Star Bond Project),
Series 2021,
3.50%, due 6/1/2034
|
685,595
|
|
Kentucky 0.5%
|
||
|
|
Kentucky Economic Development Finance Authority Revenue Refunding (Owensboro Health)
|
|
|
500,000
|
Series 2017-A, 5.00%, due 6/1/2041
|
485,010
|
|
1,000,000
|
Series 2017-A, 5.00%, due 6/1/2045
|
948,286
|
|
|
|
1,433,296
|
|
Louisiana 3.6%
|
||
|
580,583
|
Louisiana Local Government Environmental Facilities & Community Development Authority
Revenue
(Lafourche Parish Gomesa Project), Series 2019, 3.95%, due 11/1/2043
|
488,557
(a)
|
|
1,715,000
|
Louisiana Local Government Environmental Facilities & Community Development Authority
Revenue
Refunding (Westside Habilitation Center Project), Series 2017-A, 5.75%, due 2/1/2032
|
1,671,035
(a)
|
|
8,000,000
|
Louisiana Public Facilities Authority Revenue (I-10 Calcasieu River Bridge), Series
2024, 5.00%, due
9/1/2066
|
7,286,385
|
|
1,885,000
|
Louisiana Stadium & Exposition District Revenue Refunding, Series 2023-A, 5.25%, due
7/1/2053
|
1,905,556
|
|
|
|
11,351,533
|
|
Maine 0.4%
|
||
|
1,300,000
|
Maine State Finance Authority Revenue (TimberHP Madison LLC), Series 2025, 8.50%,
due
6/1/2035
|
1,300,567
|
|
Maryland 0.1%
|
||
|
300,000
|
Baltimore Special Obligation Revenue Refunding Senior Lien (Harbor Point Project),
Series 2022,
5.00%, due 6/1/2051
|
281,158
|
|
Massachusetts 1.8%
|
||
|
2,900,000
|
Massachusetts Development Finance Agency Revenue (Care Communities LLC Obligated),
Series 2025-A, 6.50%, due 7/15/2060
|
2,775,292
(a)
|
|
1,200,000
|
Massachusetts Development Finance Agency Revenue (Merrimack College Student Housing
Project),
Series 2024-A, 5.00%, due 7/1/2054
|
1,067,464
(a)
|
|
2,000,000
|
Massachusetts Development Finance Agency Revenue Refunding (Suffolk University), Series
2025,
5.25%, due 7/1/2055
|
1,870,340
|
|
125,000
|
Massachusetts State Education Financing Authority Revenue, Series 2023-C, 5.00%, due
7/1/2053
|
116,628
|
|
|
|
5,829,724
|
|
Michigan 1.8%
|
||
|
|
Michigan State Building Authority Revenue (Facilities Program)
|
|
|
2,000,000
|
Series 2022-I, 5.00%, due 10/15/2047
|
2,007,645
|
|
2,880,000
|
Series 2022-I , 5.25%, due 10/15/2057
|
2,923,958
|
|
750,000
|
Michigan State Strategic Fund Ltd. Obligation Revenue (Improvement Project), Series
2018, 5.00%,
due 6/30/2048
|
710,098
|
|
|
|
5,641,701
|
|
Minnesota 0.8%
|
||
|
2,000,000
|
Minnesota Agricultural & Economic Development Board Revenue (HealthPartners Obligated
Group),
Series 2024, 5.25%, due 1/1/2054
|
1,996,645
|
|
400,000
|
Saint Paul Housing & Redevelopment Authority Charter School Lease Revenue (Metro Deaf
School
Project), Series 2018-A, 5.00%, due 6/15/2038
|
370,107
(a)
|
|
|
|
2,366,752
|
|
Principal Amount
|
Value
|
|
|
Mississippi 1.1%
|
||
|
$2,200,000
|
Mississippi Business Finance Corp. Revenue (Chevron USA, Inc. Project), Series 2011-A,
2.70%, due
11/1/2035
|
$2,200,000
(e)
|
|
1,475,000
|
Mississippi Development Bank Special Obligation (Jackson Co. Gomesa Project), Series
2021,
3.63%, due 11/1/2036
|
1,319,678
(a)
|
|
|
|
3,519,678
|
|
Missouri 0.2%
|
||
|
575,000
|
Missouri State Health & Educational Facilities Authority Revenue Refunding (St. Louis
University),
(LOC: Wells Fargo Bank N.A.), Series 2008-B-2, 2.75%, due 10/1/2035
|
575,000
(e)
|
|
Nebraska 3.4%
|
||
|
10,250,000
|
Central Plains Energy Project Revenue Refunding, Series 2023-A, 5.00%, due 5/1/2054
Putable
11/1/2029
|
10,759,446
|
|
Nevada 0.2%
|
||
|
|
Director of the State of Nevada Department of Business & Industrial Revenue (Somerset
Academy)
|
|
|
255,000
|
Series 2015-A, 4.00%, due 12/15/2025
|
254,520
(a)
|
|
500,000
|
Series 2015-A, 5.13%, due 12/15/2045
|
457,779
(a)
|
|
|
|
712,299
|
|
New Hampshire 0.2%
|
||
|
750,000
|
New Hampshire Business Finance Authority Revenue Refunding (Green Bond), Series 2020-B,
3.75%, due 7/1/2045 Putable 7/2/2040
|
589,895
(a)
|
|
New Jersey 5.6%
|
||
|
250,000
|
New Jersey Economic Development Authority Revenue (The Goethals Bridge Replacement
Project),
Series 2013-A, 5.50%, due 1/1/2026
|
250,534
|
|
7,000,000
|
New Jersey State Economic Development Authority Revenue (School Facilities Construction
Program), Series 2019, 4.00%, due 6/15/2049
|
5,870,348
|
|
|
New Jersey State Economic Development Authority School Revenue (Beloved Community
Charter,
School, Inc. Project)
|
|
|
1,105,000
|
Series 2019-A, 5.00%, due 6/15/2049
|
999,578
(a)
|
|
725,000
|
Series 2019-A, 5.00%, due 6/15/2054
|
649,664
(a)
|
|
1,000,000
|
New Jersey State Housing & Mortgage Finance Agency Multi-Family Revenue (Riverview
Towers
Apartments), Class PT, Series 2024-B, (FHA), (GNMA), 5.25%, due 12/20/2065
|
1,002,966
|
|
4,150,000
|
New Jersey State Transportation Trust Fund Authority Transportation Program Revenue,
Series 2023-BB, 5.25%, due 6/15/2050
|
4,224,990
|
|
|
New Jersey State Transportation Trust Fund Authority Transportation System Revenue
Refunding
|
|
|
4,000,000
|
Series 2018-A, 4.25%, due 12/15/2038
|
3,858,536
|
|
1,000,000
|
Series 2018-A, (BAM), 4.00%, due 12/15/2037
|
964,771
|
|
|
|
17,821,387
|
|
New Mexico 0.4%
|
||
|
1,500,000
|
Winrock Town Center Tax Increment Development District No. 1 (Senior Lien), Series
2022, 4.25%,
due 5/1/2040
|
1,345,268
(a)
|
|
New York 34.2%
|
||
|
|
Albany Capital Resource Corp. Revenue Refunding (Albany College of Pharmacy & Health
Sciences)
|
|
|
380,000
|
Series 2014-A, 5.00%, due 12/1/2027
|
380,372
|
|
375,000
|
Series 2014-A, 5.00%, due 12/1/2028
|
375,344
|
|
270,000
|
Series 2014-A, 5.00%, due 12/1/2029
|
270,225
|
|
500,000
|
Buffalo & Erie County Industrial Land Development Corp. Revenue (Tapestry Charter
School Project),
Series 2017-A, 5.00%, due 8/1/2047
|
454,798
|
|
1,550,000
|
Buffalo & Erie County Industrial Land Development Corp. Revenue Refunding (Charter
School for
Applied Technologies Project), Series 2017-A, 5.00%, due 6/1/2035
|
1,570,553
|
|
Principal Amount
|
Value
|
|
|
New York – cont'd
|
||
|
|
Buffalo & Erie County Industrial Land Development Corp. Revenue Refunding (Orchard
Park)
|
|
|
$500,000
|
Series 2015, 5.00%, due 11/15/2027
|
$501,732
|
|
500,000
|
Series 2015, 5.00%, due 11/15/2028
|
501,779
|
|
625,000
|
Series 2015, 5.00%, due 11/15/2029
|
627,160
|
|
|
Build NYC Resource Corp. Revenue
|
|
|
1,665,000
|
Series 2014, 5.00%, due 11/1/2024
|
999,000
(b)
|
|
835,000
|
Series 2014, 5.25%, due 11/1/2029
|
501,000
|
|
650,000
|
Series 2014, 5.25%, due 11/1/2034
|
390,000
|
|
975,000
|
Series 2014, 5.50%, due 11/1/2044
|
585,000
|
|
1,000,000
|
Build NYC Resource Corp. Revenue (Metropolitan Lighthouse Charter School Project),
Series 2017-A, 5.00%, due 6/1/2047
|
877,912
(a)
|
|
1,400,000
|
Build NYC Resource Corp. Revenue (New Dawn Charter School Project), Series 2019, 5.75%,
due
2/1/2049
|
1,263,605
(a)
|
|
750,000
|
Build NYC Resource Corp. Revenue (Senior Airport Facilities), Series 2025, 5.50%,
due 7/1/2055
|
736,633
|
|
|
Build NYC Resource Corp. Revenue Refunding (City University - Queens College)
|
|
|
270,000
|
Series 2014-A, 5.00%, due 6/1/2026
|
270,288
|
|
225,000
|
Series 2014-A, 5.00%, due 6/1/2029
|
225,308
|
|
2,595,000
|
Build NYC Resource Corp. Revenue Refunding (New York Law School Project), Series 2016,
4.00%,
due 7/1/2045
|
1,971,971
|
|
|
Build NYC Resource Corp. Revenue Refunding (Packer Collegiate Institute Project)
|
|
|
155,000
|
Series 2015, 5.00%, due 6/1/2026
|
155,249
|
|
125,000
|
Series 2015, 5.00%, due 6/1/2027
|
125,184
|
|
195,000
|
Series 2015, 5.00%, due 6/1/2028
|
195,281
|
|
220,000
|
Series 2015, 5.00%, due 6/1/2029
|
220,296
|
|
325,000
|
Series 2015, 5.00%, due 6/1/2030
|
325,413
|
|
|
Dutchess County Local Development Corp. Revenue (Culinary Institute of America Project)
|
|
|
200,000
|
Series 2016-A-1, 5.00%, due 7/1/2041
|
199,108
|
|
275,000
|
Series 2016-A-1, 5.00%, due 7/1/2046
|
264,460
|
|
|
Hempstead Town Local Development Corp. Revenue (Molloy College Project)
|
|
|
390,000
|
Series 2018, 5.00%, due 7/1/2030
|
404,494
|
|
405,000
|
Series 2018, 5.00%, due 7/1/2031
|
417,964
|
|
425,000
|
Series 2018, 5.00%, due 7/1/2032
|
436,672
|
|
450,000
|
Series 2018, 5.00%, due 7/1/2033
|
460,174
|
|
|
Metropolitan Transportation Authority Revenue (Green Bond)
|
|
|
1,500,000
|
Series 2020-C-1, 5.00%, due 11/15/2050
|
1,450,932
|
|
10,500,000
|
Series 2020-D-3, 4.00%, due 11/15/2049
|
8,665,077
|
|
3,000,000
|
Series 2020-D-3, 4.00%, due 11/15/2050
|
2,458,989
|
|
300,000
|
Monroe County Industrial Development Corp. Revenue (Monroe Community College), Series
2014,
(AG), 5.00%, due 1/15/2029
|
300,547
|
|
|
Monroe County Industrial Development Corp. Revenue (Nazareth College of Rochester
Project)
|
|
|
500,000
|
Series 2013-A, 5.00%, due 10/1/2025
|
500,611
|
|
250,000
|
Series 2013-A, 4.00%, due 10/1/2026
|
250,099
|
|
1,000,000
|
Nassau County Local Economic Assistance Corp. Revenue (Catholic Health Services of
Long Island
Obligated Group Project), Series 2014, 5.00%, due 7/1/2027
|
1,001,064
|
|
4,175,000
|
Nassau County Tobacco Settlement Corp. Asset Backed, Series 2006-A-3, 5.13%, due 6/1/2046
|
3,336,436
|
|
2,000,000
|
New York Liberty Development Corp. Revenue (Goldman Sachs Headquarters), Series 2005,
5.25%,
due 10/1/2035
|
2,236,705
|
|
1,000,000
|
New York Liberty Development Corp. Revenue Refunding (3 World Trade Center Project),
Class 2-3,
Series 2014, 5.38%, due 11/15/2040
|
985,485
(a)
|
|
3,390,000
|
New York State Dormitory Authority Revenue Refunding, Series 2024-A, 4.00%, due 3/15/2054
|
2,835,325
|
|
500,000
|
New York State Environmental Facilities Corp. Solid Waste Disposal Revenue (Casella
Waste System,
Inc. Project), Series 2014, 2.88%, due 12/1/2044 Putable 12/3/2029
|
465,284
(a)
|
|
Principal Amount
|
Value
|
|
|
New York – cont'd
|
||
|
$430,000
|
New York State Housing Finance Agency Revenue (Affordable Housing), Series 2012-F,
(SONYMA),
3.05%, due 11/1/2027
|
$430,072
|
|
2,545,000
|
New York State Mortgage Agency Homeowner Mortgage Revenue Refunding, Series 2014-189,
3.45%, due 4/1/2027
|
2,545,052
|
|
4,000,000
|
New York State Transportation Development Corp. Special Facility Revenue (Delta Airlines,
Inc.-LaGuardia Airport Terminal C & D Redevelopment), Series 2020, 4.38%, due 10/1/2045
|
3,469,208
|
|
|
New York State Transportation Development Corp. Special Facility Revenue (JFK International
Airport
New Terminal 1 Project)
|
|
|
750,000
|
Series 2023, 6.00%, due 6/30/2054
|
761,791
|
|
3,000,000
|
Series 2023, 5.38%, due 6/30/2060
|
2,851,343
|
|
10,000,000
|
Series 2024, 5.50%, due 6/30/2054
|
9,646,242
|
|
1,145,000
|
New York State Transportation Development Corp. Special Facility Revenue (LaGuardia
Airport
Terminal B Redevelopment Project), Series 2016-A, 4.00%, due 7/1/2041
|
999,736
|
|
2,000,000
|
New York State Transportation Development Corp. Special Facility Revenue (LaGuardia
Airport
Terminal C&D Redevelopment Project), Series 2023, 5.63%, due 4/1/2040
|
2,051,269
|
|
1,500,000
|
New York State Transportation Development Corp. Special Facility Revenue Refunding
(American
Airlines, Inc.-John F Kennedy International Airport Project), Series 2016, 5.00%,
due 8/1/2031
|
1,499,908
|
|
11,010,000
|
New York State Transportation Development Corp. Special Facility Revenue Refunding
(JFK Airport
Terminal 6 Redevelopment Project), Series 2024-A, 5.50%, due 12/31/2060
|
10,637,872
|
|
|
New York State Transportation Development Corp. Special Facility Revenue Refunding
(JFK
International Airport Terminal 4 Project)
|
|
|
100,000
|
Series 2020-A, 4.00%, due 12/1/2042
|
84,427
|
|
500,000
|
Series 2022, 5.00%, due 12/1/2039
|
501,681
|
|
1,000,000
|
Niagara Area Development Corp. Solid Waste Disposal Facility Revenue Refunding (Covanta
Project),
Series 2018-A, 4.75%, due 11/1/2042
|
886,283
(a)
|
|
|
Niagara Frontier Transportation Authority Revenue Refunding (Buffalo Niagara International
Airport)
|
|
|
375,000
|
Series 2019-A, 5.00%, due 4/1/2037
|
378,597
|
|
350,000
|
Series 2019-A, 5.00%, due 4/1/2038
|
351,913
|
|
350,000
|
Series 2019-A, 5.00%, due 4/1/2039
|
350,516
|
|
500,000
|
Oneida Indian Nation of New York Revenue, Series 2024-B, 6.00%, due 9/1/2043
|
522,552
(a)
|
|
175,000
|
Port Authority New York & New Jersey Consolidated Bonds Revenue Refunding (Two Hundred
And
Forty Six), Series 2024, 5.00%, due 9/1/2033
|
191,679
|
|
7,125,000
|
Port Authority New York & New Jersey Consolidated Bonds Revenue Refunding (Two Hundred
And
Forty Two), Series 2023-242, 5.00%, due 12/1/2053
|
7,081,311
|
|
1,920,000
|
Port Authority New York & New Jersey Consolidated Bonds Revenue Refunding (Two Hundred
And
Thirty Two), Series 2022-232, 4.63%, due 8/1/2052
|
1,740,665
|
|
500,000
|
Port Authority New York & New Jersey Consolidated Bonds Revenue Refunding (Two Hundred),
Series 2017, 5.00%, due 4/15/2057
|
491,109
|
|
1,000,000
|
State of New York Mortgage Agency Homeowner Mortgage Revenue, Series 2024-264, (SONYMA),
4.60%, due 10/1/2054
|
929,861
|
|
|
Triborough Bridge & Tunnel Authority Revenue
|
|
|
2,200,000
|
(LOC: U.S. Bank N.A.), Series 2003-B-1, 2.80%, due 1/1/2033
|
2,200,000
(e)
|
|
4,000,000
|
Series 2025-A, 5.50%, due 12/1/2059
|
4,149,350
|
|
3,000,000
|
Triborough Bridge & Tunnel Authority Sales Tax Revenue, Series 2024-A-1, 5.25%, due
5/15/2059
|
3,062,548
|
|
|
TSASC, Inc. Revenue Refunding
|
|
|
580,000
|
Series 2017-A, 5.00%, due 6/1/2028
|
592,903
|
|
3,000,000
|
Series 2017-A, 5.00%, due 6/1/2041
|
2,861,441
|
|
1,000,000
|
Westchester County Local Development Corp. Revenue Refunding (Kendal on Hudson Project),
Series 2022-B, 5.00%, due 1/1/2051
|
941,130
|
|
665,000
|
Yonkers Economic Development Corp. Education Revenue (Charter School of Education
Excellence
Project), Series 2019-A, 5.00%, due 10/15/2049
|
593,358
|
|
Principal Amount
|
Value
|
|
|
New York – cont'd
|
||
|
$5,000,000
|
Yonkers Industrial Development Agency School Facilities Revenue (New Community School
Project),
Series 2022, (ST AID WITHHLDG), 5.00%, due 5/1/2047
|
$5,041,041
|
|
|
|
108,038,387
|
|
North Carolina 2.9%
|
||
|
|
Charlotte Airport Revenue
|
|
|
1,250,000
|
Series 2023-B, 5.00%, due 7/1/2044
|
1,230,754
|
|
1,500,000
|
Series 2023-B, 5.00%, due 7/1/2048
|
1,468,407
|
|
1,400,000
|
North Carolina Housing Finance Agency Revenue, (LOC: TD Bank N.A.), Series 2023-52,
(FHLMC),
(FNMA), (GNMA), 2.75%, due 7/1/2049
|
1,400,000
(e)
|
|
1,700,000
|
North Carolina Medical Care Commission Retirement Facilities Revenue, Series 2020-A,
4.00%, due
9/1/2050
|
1,257,444
|
|
4,000,000
|
North Carolina Turnpike Authority Revenue (Triangle Expressway System), Series 2024-A,
(AG),
5.00%, due 1/1/2058
|
3,959,636
|
|
|
|
9,316,241
|
|
Ohio 9.1%
|
||
|
29,795,000
|
Buckeye Tobacco Settlement Finance Authority Asset-Backed Senior Revenue Refunding,
Class 2,
Series 2020-B-2, 5.00%, due 6/1/2055
|
24,202,595
|
|
2,500,000
|
Ohio State Air Quality Development Authority Exempt Facilities Revenue (AMG Vanadium
LLC),
Series 2019, 5.00%, due 7/1/2049
|
2,113,616
(a)
|
|
2,335,000
|
Ohio State Air Quality Development Authority Revenue Refunding (Ohio Valley Electric
Corp.
Project), Series 2019-A, 3.25%, due 9/1/2029
|
2,301,301
|
|
|
|
28,617,512
|
|
Oregon 0.5%
|
||
|
10,000
|
Oregon State Housing & Community Service Department Multi-Family Revenue, Series 2012-B,
(FHA), (FHLMC), (FNMA), (GNMA), 3.50%, due 7/1/2027
|
9,999
|
|
2,180,000
|
Portland General Obligation (Transportation Project), Series 2022-A, 2.25%, due 10/1/2041
|
1,517,693
|
|
|
|
1,527,692
|
|
Pennsylvania 5.2%
|
||
|
1,930,000
|
Allentown Neighborhood Improvement Zone Development Authority Revenue (City Center
Project),
Series 2024, 5.00%, due 5/1/2042
|
1,886,570
(a)
|
|
2,830,000
|
Lancaster County Hospital Authority Revenue Refunding (Health Centre-Landis Homes
Retirement
Community Project), Series 2015-A, 4.25%, due 7/1/2030
|
2,830,169
|
|
1,035,000
|
Pennsylvania Economic Development Financing Authority Revenue (PA Bridges Finco LP-P3
Project),
Series 2015, 5.00%, due 6/30/2042
|
1,003,520
|
|
3,500,000
|
Pennsylvania Economic Development Financing Authority Revenue Refunding (Energy Supply
LLC),
Series 2009-C, 5.25%, due 12/1/2037 Putable 6/1/2027
|
3,524,489
|
|
2,350,000
|
Pennsylvania Economic Development Financing Authority Revenue Refunding (Tapestry
Moon Senior
Housing Project), Series 2018-A, 6.75%, due 12/1/2053
|
470,000
(a)(b)
|
|
7,255,000
|
Philadelphia Water & Wastewater Revenue Refunding, Series 2023-B, (AG), 4.50%, due
9/1/2048
|
6,865,367
|
|
|
|
16,580,115
|
|
Puerto Rico 7.0%
|
||
|
1,750,000
|
Puerto Rico Commonwealth General Obligation (Restructured), Series 2021-A1, 4.00%,
due
7/1/2046
|
1,458,662
|
|
22,552,000
|
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series 2018-A-1, 5.00%, due
7/1/2058
|
20,610,605
|
|
|
|
22,069,267
|
|
South Carolina 2.6%
|
||
|
3,110,000
|
Patriots Energy Group Financing Agency Revenue Refunding, Series 2023-B-1, 5.25%,
due 2/1/2054
Putable 3/1/2031
|
3,342,942
|
|
Principal Amount
|
Value
|
|
|
South Carolina – cont'd
|
||
|
$1,875,000
|
South Carolina Jobs Economic Development Authority Economic Development Revenue (River
Park
Senior Living Project), Series 2017-A, 7.75%, due 10/1/2057
|
$1,882,571
|
|
550,000
|
South Carolina Jobs Economic Development Authority Solid Waste Disposal Revenue (AMT-Green
Bond-Last Step Recycling LLC Project), Series 2021-A, 6.50%, due 6/1/2051
|
60,500
(a)(b)
|
|
2,325,000
|
South Carolina Jobs Economic Development Authority Solid Waste Disposal Revenue (Green
Bond-Jasper Pellets LLC Project), Series 2018-A, 7.00%, due 11/1/2038
|
3,255
#(b)(f)(g)
|
|
750,000
|
South Carolina Jobs Economic Development Authority Solid Waste Disposal Revenue (RePower
South Berkeley LLC Project), Series 2017, 6.25%, due 2/1/2045
|
67,500
(a)(b)
|
|
2,500,000
|
South Carolina Jobs-Economic Development Authority Revenue (Novant Health Obligated
Group),
Series 2024-A, 4.50%, due 11/1/2054
|
2,230,546
|
|
735,000
|
South Carolina State Housing Finance & Development Authority Mortgage Revenue, Series
2024-A,
4.75%, due 1/1/2054
|
693,924
|
|
|
|
8,281,238
|
|
Tennessee 1.1%
|
||
|
2,000,000
|
Metropolitan Government Nashville & Davidson County Health & Educational Facilities
Board
Revenue (Blakeford At Green Hills), Series 2020-A, 4.00%, due 11/1/2045
|
1,555,732
|
|
|
Shelby County Health & Educational Facilities Board Revenue (Madrone Memphis Student
Housing I
LLC)
|
|
|
1,000,000
|
Series 2024-A1, 5.00%, due 6/1/2044
|
928,015
(a)
|
|
1,000,000
|
Series 2024-A1, 5.25%, due 6/1/2056
|
901,120
(a)
|
|
|
|
3,384,867
|
|
Texas 12.8%
|
||
|
250,000
|
Anson Educational Facilities Corp. Educational Revenue (Arlington Classics Academy),
Series 2016-A, 5.00%, due 8/15/2045
|
232,405
|
|
|
Arlington Higher Education Finance Corp. Revenue (Basis Texas Charter Schools, Inc.)
|
|
|
1,000,000
|
Series 2024, 4.88%, due 6/15/2059
|
877,654
(a)
|
|
700,000
|
Series 2024, 5.00%, due 6/15/2064
|
620,358
(a)
|
|
825,000
|
Arlington Higher Education Finance Corp. Revenue (Universal Academy), Series 2014-A,
6.63%, due
3/1/2029
|
825,607
|
|
730,000
|
Austin Community College District Public Facility Corp. Lease Revenue, Series 2018-C,
4.00%, due
8/1/2042
|
649,902
|
|
185,000
|
Dallas County Flood Control District No. 1 Refunding General Obligation, Series 2015,
5.00%, due
4/1/2028
|
185,025
(a)
|
|
3,000,000
|
Dallas Fort Worth International Airport Revenue Refunding, Series 2023-B, 5.00%, due
11/1/2047
|
3,020,357
|
|
2,085,000
|
Dallas Independent School District General Obligation, Series 2022, (PSF-GTD), 2.75%,
due
2/15/2052
|
1,329,673
|
|
1,500,000
|
Elm Ridge Water Control & Improvement District of Denton County General Obligation,
Series 2013,
5.00%, due 9/1/2037
|
1,398,517
|
|
3,050,000
|
EP Tuscany Zaragosa PFC Revenue (Home Essential Function Housing Program), Series
2023, 4.00%,
due 12/1/2033
|
2,999,182
|
|
2,000,000
|
Fort Bend County Industrial Development Corp. Revenue (NRG Energy, Inc.), Series 2012-B,
4.75%,
due 11/1/2042
|
1,891,880
|
|
7,100,000
|
Fort Bend County Texas Public Facility Corp. Revenue, Series 2023, 5.00%, due 3/1/2053
|
7,143,832
|
|
915,000
|
Harris County Cultural Education Facilities Finance Corp. Revenue (Brazos Presbyterian
Homes, Inc.
Project), Series 2013-B, 5.75%, due 1/1/2028
|
916,361
|
|
1,500,000
|
Houston Airport System Revenue (United Airlines, Inc.), Series 2024-B, 5.50%, due
7/15/2038
|
1,548,540
|
|
1,000,000
|
New Hope Cultural Education Facilities Finance Corp. Revenue, Series 2025-A, 6.50%,
due
10/1/2055
|
966,495
|
|
|
New Hope Cultural Education Facilities Finance Corp. Revenue (Beta Academy)
|
|
|
545,000
|
Series 2019-A, 5.00%, due 8/15/2039
|
508,497
(a)
|
|
520,000
|
Series 2019-A, 5.00%, due 8/15/2049
|
449,374
(a)
|
|
Principal Amount
|
Value
|
|
|
Texas – cont'd
|
||
|
$500,000
|
New Hope Cultural Education Facilities Finance Corp. Senior Living Revenue (Cardinal
Bay, Inc.
Village On The Park Carriage), Series 2016-C, 5.50%, due 7/1/2046
|
$250,000
(b)
|
|
3,150,000
|
Tarrant County Cultural Education Facilities Finance Corp. Revenue Refunding (Baylor
Scott & White
Health Project), (LOC: JP Morgan Chase Bank N.A.), Series 2024-A, 2.20%, due 11/15/2050
|
3,150,000
(e)
|
|
2,075,000
|
Tarrant County Cultural Education Facilities Finance Corp. Revenue Refunding (Methodist
Hospitals
of Dallas), (LOC: TD Bank N.A.), Series 2008-A, 2.70%, due 10/1/2041
|
2,075,000
(e)
|
|
|
Texas State Private Activity Bond Surface Transportation Corp. Revenue Refunding (Senior
Lien-NTE
Mobility Partners Segments 3 LLC)
|
|
|
1,750,000
|
Series 2023, 5.38%, due 6/30/2037
|
1,821,808
|
|
1,000,000
|
Series 2023, 5.38%, due 6/30/2039
|
1,026,981
|
|
1,000,000
|
Series 2023, 5.50%, due 6/30/2040
|
1,026,695
|
|
2,350,000
|
Series 2023, 5.50%, due 6/30/2041
|
2,397,396
|
|
3,500,000
|
Texas Water Development Board Revenue (Master Trust), Series 2024-A, 4.38%, due 10/15/2059
|
3,127,712
|
|
|
|
40,439,251
|
|
Utah 3.0%
|
||
|
1,500,000
|
Mida Mountain Village Public Infrastructure District Revenue, Series 2024-2, 6.00%,
due 6/15/2054
|
1,493,274
(a)
|
|
|
Salt Lake City Airport Revenue
|
|
|
1,000,000
|
Series 2017-A, 5.00%, due 7/1/2042
|
992,789
|
|
2,000,000
|
Series 2017-A, 5.00%, due 7/1/2047
|
1,953,607
|
|
1,000,000
|
Series 2018-A, 5.00%, due 7/1/2043
|
982,145
|
|
3,000,000
|
Salt Lake County Hospital Revenue (IHC Health Service, Inc.), Series 2001, (AMBAC),
5.40%, due
2/15/2028
|
3,029,841
|
|
|
Utah Infrastructure Agency Telecommunication Revenue
|
|
|
450,000
|
Series 2024, 5.50%, due 10/15/2044
|
460,394
|
|
500,000
|
Series 2024, 5.50%, due 10/15/2048
|
504,541
|
|
|
|
9,416,591
|
|
Vermont 0.5%
|
||
|
1,000,000
|
Vermont Economic Development Authority Solid Waste Disposal Revenue (Casella Waste
System,
Inc.), Series 2022-A-1, 5.00%, due 6/1/2052 Putable 6/1/2027
|
1,006,342
(a)
|
|
700,000
|
Vermont Student Assistant Corp. Education Loan Revenue, Series 2015-A, 4.13%, due
6/15/2027
|
700,586
|
|
|
|
1,706,928
|
|
Virginia 1.3%
|
||
|
3,700,000
|
Virginia Beach Development Authority Revenue, Series 2023-A, 7.00%, due 9/1/2059
|
3,987,027
|
|
Washington 1.5%
|
||
|
3,770,000
|
Vancouver Downtown Redevelopment Authority Revenue (Conference Center Project), Series
2013,
4.00%, due 1/1/2028
|
3,773,006
|
|
1,000,000
|
Washington State Economic Development Finance Authority Environmental Facilities Revenue
(Green Bond), Series 2020-A, 5.63%, due 12/1/2040
|
986,926
(a)
|
|
|
|
4,759,932
|
|
West Virginia 1.4%
|
||
|
|
West Virginia Hospital Finance Authority Revenue (Vandalia Health Group)
|
|
|
1,500,000
|
Series 2023-B, 6.00%, due 9/1/2053
|
1,579,953
|
|
1,500,000
|
Series 2023-B, (AG), 5.38%, due 9/1/2053
|
1,538,601
|
|
1,400,000
|
West Virginia Hospital Finance Authority Revenue Refunding (Charleston Area Medical
Center, Inc.),
Series 2019-A, 5.00%, due 9/1/2039
|
1,402,070
|
|
|
|
4,520,624
|
|
Principal Amount
|
Value
|
|
|
Wisconsin 11.8%
|
||
|
$2,000,000
|
Public Finance Authority Airport Facility Revenue Refunding (Trips Obligation Group),
Series 2012-B,
5.00%, due 7/1/2042
|
$1,947,897
|
|
870,000
|
Public Finance Authority Education Revenue (Pine Lake Preparatory, Inc.), Series 2015,
4.95%, due
3/1/2030
|
870,358
(a)
|
|
200,000
|
Public Finance Authority Education Revenue (Resh Triangle High School Project), Series
2015-A,
5.38%, due 7/1/2035
|
200,008
(a)
|
|
600,000
|
Public Finance Authority Retirement Facility Revenue Refunding (Friends Homes), Series
2019,
5.00%, due 9/1/2054
|
511,782
(a)
|
|
838,000
|
Public Finance Authority Revenue (Candela Project), Series 2023, 6.13%, due 12/15/2029
|
846,727
(a)
|
|
18,000,000
|
Public Finance Authority Revenue (Georgia Sr. 400 Express Lanes Project), Series 2025,
5.75%, due
12/31/2065
|
17,160,534
(h)
|
|
2,500,000
|
Public Finance Authority Revenue (Mayfair Project), Series 2024-A-4, 5.50%, due 11/15/2032
|
2,480,238
(a)
|
|
3,077,000
|
Public Finance Authority Revenue (Signorelli Project), Series 2024, 5.38%, due 12/15/2032
|
3,076,929
(a)
|
|
3,000,000
|
Public Finance Authority Revenue Refunding (Celanese Project), Series 2016-D, 4.05%,
due
11/1/2030
|
2,975,205
|
|
6,000,000
|
Public Finance Authority Special Facility Revenue (Sky Harbour Capital LLC Aviation
Facility Project),
Series 2021, 4.25%, due 7/1/2054
|
4,612,204
|
|
800,000
|
Saint Croix Chippewa Indians of Wisconsin Refunding, Series 2021, 5.00%, due 9/30/2041
|
686,168
(a)
|
|
|
Wisconsin Health & Educational Facilities Authority Revenue (Chiara Housing & Services,
Inc. Project)
|
|
|
1,000,000
|
Series 2024, 6.00%, due 7/1/2060
|
955,851
|
|
1,000,000
|
Series 2025, 6.63%, due 7/1/2060
|
1,012,721
|
|
|
|
37,336,622
|
|
Total Investments 175.1% (Cost $578,389,609)
|
553,767,845
|
|
|
Liabilities Less Other Assets (3.0)%
|
(9,578,022
)
|
|
|
Liquidation Preference of Variable Rate Municipal Term Preferred Shares (72.1)%
|
(227,900,000
)(i)
|
|
|
Net Assets Applicable to Common Stockholders 100.0%
|
$316,289,823
|
|
|
(a)
|
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended,
or are otherwise
restricted and, unless registered under the Securities Act of 1933 or exempted from
registration, may only
be sold to qualified institutional investors or may have other restrictions on resale.
At July 31, 2025, these
securities amounted to $73,857,728, which represents 23.4% of net assets applicable
to common
stockholders of the Fund.
|
|
(b)
|
Defaulted security.
|
|
(c)
|
Currently a zero coupon security; will convert to 7.30% on August 1, 2026.
|
|
(d)
|
Step Bond. Coupon rate is a fixed rate for an initial period that either resets at
a specific date or may reset in
the future contingent upon a predetermined trigger. The interest rate shown was the
current rate as of
July 31, 2025.
|
|
(e)
|
Variable rate demand obligation where the stated interest rate is not based on a published
reference rate
and spread. Rather, the interest rate generally resets daily or weekly and is determined
by the remarketing
agent. The rate shown represents the rate in effect at July 31, 2025.
|
|
(f)
|
Value determined using significant unobservable inputs.
|
|
(g)
|
Security fair valued as of July 31, 2025 in accordance with procedures approved by
the valuation designee.
Total value of all such securities at July 31, 2025 amounted to $3,255, which represents
0.0% of net assets
applicable to common stockholders of the Fund.
|
|
(h)
|
When-issued security. Total value of all such securities at July 31, 2025 amounted
to $17,160,534, which
represents 5.4% of net assets applicable to common stockholders of the Fund.
|
|
(i)
|
Fair valued as of July 31, 2025 in accordance with procedures approved by the valuation
designee.
|
|
Restricted Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Value as of
7/31/2025
|
Fair Value
Percentage
of Net Assets
Applicable
to Common
Stockholders
as of
7/31/2025
|
|
South Carolina Jobs Economic Development Authority Solid
Waste Disposal Revenue (Green Bond-Jasper Pellets LLC
Project)
|
12/4/2018-6/25/2020
|
$2,227,759
|
$3,255
|
0.0%
|
|
Asset Valuation Inputs
|
Level 1
|
Level 2
|
Level 3(a)
|
Total
|
|
Investments:
|
|
|
|
|
|
Municipal Notes
|
|
|
|
|
|
South Carolina
|
$—
|
$8,277,983
|
$3,255
|
$8,281,238
|
|
Other Municipal Notes#
|
—
|
545,486,607
|
—
|
545,486,607
|
|
Total Municipal Notes
|
—
|
553,764,590
|
3,255
|
553,767,845
|
|
Total Investments
|
$—
|
$553,764,590
|
$3,255
|
$553,767,845
|
|
#
|
The Schedule of Investments provides information on the industry, state/territory
or sector categorization.
|
|
(a)
|
The following is a reconciliation between the beginning and ending balances of investments
in which
significant unobservable inputs (Level 3) were used in determining value:
|
|
(000's
omitted)
|
Beginning
balance as
of 11/1/2024
|
Accrued
discounts/
(premiums)
|
Realized
gain/(loss)
|
Change
in unrealized
appreciation/
(depreciation)
|
Purchases
|
Sales/
Other
Reductions
|
Transfers
into
Level 3
|
Transfers
out of
Level 3
|
Balance
as of
7/31/2025
|
Net change in
unrealized
appreciation/
(depreciation)
from
investments
still held as of
7/31/2025
|
|
Investments in
Securities:
|
|
|
|
|
|
|
|
|
|
|
|
Loan
Assignments(1)
|
$75
|
$—
|
$(715
)
|
$708
|
$—
|
$(68
)
|
$—
|
$—
|
$—
|
$—
|
|
Municipal
Notes(1)
|
453
|
3
|
(1,810
)
|
1,597
|
—
|
(240
)
|
—
|
—
|
3
|
(191
)
|
|
Total
|
$528
|
$3
|
$(2,525
)
|
$2,305
|
$—
|
$(308
)
|
$—
|
$—
|
$3
|
$(191
)
|
|
(1)
Quantitative Information about Level 3 Fair Value Measurements:
|
||||||
|
Investment type
|
Fair value
at
7/31/2025
|
Valuation
approach
|
Significant unobservable
input(s)
|
Input value/
range
|
Weighted
average(a)
|
Impact to
valuation
from
increase
in input(b)
|
|
Municipal Notes
|
$3,255
|
Market Approach
|
Recovery Value (of Par Value)
|
0.1%
|
0.1%
|
Increase
|
|
(a)
The weighted averages disclosed in the table above were weighted by relative fair
value.
|
||||||
|
(b)
Represents the expected directional change in the fair value of the Level 3 investments
that
would result from an increase or decrease in the corresponding input. Significant
changes in
these inputs could result in significantly higher or lower fair value measurements.
|
|
Other Financial Instruments
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Variable Rate Municipal Term Preferred Shares(a)
|
$—
|
$(227,900,000
)
|
$—
|
$(227,900,000
)
|
|
Total Variable Rate Municipal Term Preferred
Shares
|
$—
|
$(227,900,000
)
|
$—
|
$(227,900,000
)
|
|
(a)
|
The Fund may hold liabilities in which the fair value approximates the carrying amount
for financial
statement purposes.
|
|
Counterparties:
|
|
|
TD
|
= TD Securities
|
|
Other Abbreviations:
|
|
|
Management
|
= Neuberger Berman Investment Advisers LLC
|