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Portfolio of Investments January 31, 2026
NEA
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM INVESTMENTS - 165.4% (99.0% of Total Investments)
5771060665
MUNICIPAL BONDS - 165.4% (99.0% of Total Investments)
5771060665
ALABAMA - 1.6% (1.0% of Total Investments)
$
3,485,000
Alabama Highway Authority, Special Obligation Revenue
Bonds, Series 2025
5
.000
%
09/01/45
$
3,771,185
15,520,000
(a)
Alabama Special Care Facilities Financing Authority, Revenue
Bonds, Ascension Health, Series 2016B
5
.000
11/15/46
15,529,984
5,920,000
Autauga County Board of Education, Alabama, Special Tax
Warrants, Series 2021
4
.000
04/01/51
5,297,349
35,000
Birmingham Airport Authority, Alabama, Airport Revenue
Bonds, Series 2020 - BAM Insured
4
.000
07/01/35
36,267
4,250,000
Infirmary Health System Special Care Facilities Financing
Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health
System, Inc., Series 2016A
5
.000
02/01/41
4,250,104
9,365,000
Jefferson County, Alabama, Sewer Revenue Warrants, Series
2024
5
.250
10/01/49
9,736,382
4,340,000
Mobile Spring Hill College Educational Building Authority,
Alabama, Revenue Bonds, Spring Hill College Project, Series
2015
5
.875
04/15/45
3,052,616
2,410,000
Pike Road, Alabama, General Obligation Warrants, Series 2023
5
.000
03/01/52
2,474,434
5,500,000
Southeast Energy Authority, Alabama, A Cooperative District
Energy Supply Revenue Bonds Series 2024A
5
.000
11/01/35
5,859,790
1,000,000
(b)
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
1,069,584
5,310,000
(c)
Tuscaloosa County Industrial Development Authority,
Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project,
Refunding Series 2019A
5
.250
05/01/44
5,344,151
TOTAL ALABAMA
56,421,846
ARIZONA - 2.4% (1.4% of Total Investments)
1,150,000
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds, Academies of Math & Science Projects, Series
2017A
5
.000
07/01/47
1,126,912
1,400,000
(c)
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds, Social Bonds Pensar Academy Project, Series
2020
5
.000
07/01/45
1,285,086
6,970,000
(a)
Arizona Industrial Development Authority, Single Family
Mortgage Revenue Bonds, Series 2024A, (UB)
4
.650
10/01/48
6,873,452
1,965,000
(a)
Arizona Industrial Development Authority, Single Family
Mortgage Revenue Bonds, Series 2024A, (UB)
4
.700
10/01/51
1,947,998
1,957,000
Floreo at Teravalis Community Facilities District, Arizona,
Special Assessment Revenue Bonds, District 1 Series 2025
6
.125
07/01/45
2,029,202
2,045,000
Maricopa County Industrial Development Authority, Arizona,
Hospital Revenue Bonds, Honor Health, Series 2024D
5
.000
12/01/43
2,185,056
8,895,000
Maricopa County Industrial Development Authority, Arizona,
Hospital Revenue Bonds, HonorHealth, Series 2021A
4
.000
09/01/51
7,714,576
5,135,000
Maricopa County Industrial Development Authority, Arizona,
Revenue Bonds, Banner Health, Refunding Series 2016A
4
.000
01/01/36
5,161,961
3,130,000
Maricopa County Industrial Development Authority, Arizona,
Revenue Bonds, Banner Health, Series 2017D
4
.000
01/01/48
2,783,814
5,000,000
Maricopa County Industrial Development Authority, Arizona,
Revenue Bonds, Banner Health, Series 2019A
4
.000
01/01/44
4,737,010
6,550,000
Phoenix Civic Improvement Corporation, Arizona, Airport
Revenue Bonds, Junior Lien Series 2019A
4
.000
07/01/49
6,094,548
1,500,000
Phoenix Civic Improvement Corporation, Arizona, Airport
Revenue Bonds, Junior Lien Series 2019A
5
.000
07/01/49
1,528,069
6,545,000
Phoenix Civic Improvement Corporation, Arizona, Revenue
Bonds, Civic Plaza Expansion Project, Series 2005B - FGIC
Insured
5
.500
07/01/37
8,055,326
10,000,000
Phoenix Civic Improvement Corporation, Arizona, Revenue
Bonds, Civic Plaza Expansion Project, Series 2005B - FGIC
Insured
5
.500
07/01/40
12,351,583
Portfolio of Investments January 31, 2026
(continued)
NEA
2
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
1,465,000
(c)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Imagine East Mesa Charter
Schools Project, Series 2019
5
.000
%
07/01/49
$
1,345,235
5,000,000
Salt River Project Agricultural Improvement and Power District,
Arizona, Electric System Revenue Bonds, Series 2024A
5
.000
01/01/54
5,191,533
11,080,000
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue
Bonds, Citigroup Energy Inc Prepay Contract Obligations,
Series 2007
5
.000
12/01/37
12,169,008
430,000
Superstition Vistas Community Facilities District 2, Arizona,
Special Assessment Bonds, Assessment Area 2, Series 2025
6
.300
07/01/49
441,248
TOTAL ARIZONA
83,021,617
ARKANSAS - 0.0% (0.0% of Total Investments)
1,750,000
(c)
Arkansas Development Finance Authority, Charter School
Revenue Bonds, Academy of Math and Science - Little Rock
Project Series 2024A
7
.000
07/01/59
1,671,028
TOTAL ARKANSAS
1,671,028
CALIFORNIA - 3.7% (2.2% of Total Investments)
3,335,000
Alameda Corridor Transportation Authority, California,
Revenue Bonds, Refunding Second Subordinate Lien Series
2022C - AGM Insured
5
.000
10/01/52
3,427,928
4,225,000
Alameda Unified School District, Alameda County, California,
General Obligation Bonds, Series 2005B - AGM Insured
0
.000
08/01/28
3,973,826
3,450,000
Antelope Valley Joint Union High School District, Los Angeles
and Kern Counties, California, General Obligation Bonds,
Series 2004B - NPFG Insured
0
.000
08/01/29
3,165,844
8,000,000
Beverly Hills Unified School District, Los Angeles County,
California, General Obligation Bonds, 2008 Election Series
2009
0
.000
08/01/33
6,639,357
20,000
California County Tobacco Securitization Agency, Tobacco
Settlement Asset-Backed Bonds, Los Angeles County
Securitization Corporation, Series 2020B-1
5
.000
06/01/49
19,887
1,350,000
California Educational Facilities Authority, Revenue Refunding
Bonds, Loyola Marymount University, Series 2001A - NPFG
Insured
0
.000
10/01/39
816,591
1,500,000
California Municipal Finance Authority, Revenue Bonds,
Eisenhower Medical Center, Refunding Series 2017A
5
.000
07/01/42
1,510,739
965,000
California Public Finance Authority, Revenue Bonds, Henry
Mayo Newhall Hospital, Series 2017
5
.000
10/15/47
957,908
5,000,000
California State, General Obligation Bonds, Refunding Various
Purpose Series 2017
4
.000
08/01/36
5,019,395
5,000
California State, General Obligation Bonds, Series 2004 -
AMBAC Insured
5
.000
04/01/31
5,012
9,130,000
(c)
California Statewide Communities Development Authority,
California, Revenue Bonds, Loma Linda University Medical
Center, Series 2016A
5
.250
12/01/56
9,134,179
10,445,000
Castaic Lake Water Agency, California, Certificates of
Participation, Water System Improvement Project, Series 1999a
- AMBAC Insured
0
.000
08/01/29
9,617,883
7,775,000
Foothill/Eastern Transportation Corridor Agency, California, Toll
Road Revenue Bonds, Refunding Senior Lien Series 2015A -
AGM Insured
0
.000
01/15/34
6,200,204
910,000
Foothill/Eastern Transportation Corridor Agency, California, Toll
Road Revenue Bonds, Refunding Series 2013A
6
.850
01/15/42
1,099,019
5,000,000
Huntington Beach Union High School District, Orange County,
California, General Obligation Bonds, Series 2007 - FGIC
Insured
0
.000
08/01/32
4,217,094
1,500,000
Lincoln Unified School District, Placer County, California,
Special Tax Bonds, Community Facilities District 1, Series 2005
- AMBAC Insured
0
.000
09/01/26
1,473,109
885,000
(d)
Los Angeles Department of Water and Power, California,
Electric Plant Revenue Bonds, Series 1994, (ETM)
5
.375
02/15/34
903,634
3
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
2,490,000
Madera Unified School District, Madera County, California,
General Obligation Bonds, Election 2002 Series 2005 - NPFG
Insured
0
.000
%
08/01/27
$
2,394,268
10,335,000
(e)
Mount San Antonio Community College District, Los Angeles
County, California, General Obligation Bonds, Election of 2008,
Series 2013A
0
.000
08/01/43
10,591,158
5,500,000
M-S-R Energy Authority, California, Gas Revenue Bonds,
Citigroup Prepay Contracts, Series 2009B
6
.500
11/01/39
6,834,563
14,100,000
New Haven Unified School District, California, General
Obligation Bonds, Refunding Series 2009 - AGC Insured
0
.000
08/01/34
11,073,520
2,500,000
Norwalk La Mirada Unified School District, Los Angeles County,
California, General Obligation Bonds, Election 2002 Series
2005B
0
.000
08/01/29
2,283,814
1,745,000
(d)
Orange County Water District, California, Revenue Certificates
of Participation, Series 2003B, (Pre-refunded 8/15/32) - NPFG
Insured
5
.000
08/15/34
2,032,592
1,490,000
(d)
Orange County Water District, California, Revenue Certificates
of Participation, Series 2003B - NPFG Insured, (ETM)
5
.000
08/15/34
1,680,501
1,000,000
Pajaro Valley Unified School District, Santa Cruz County,
California, General Obligation Bonds, Series 2005B - AGM
Insured
0
.000
08/01/29
916,685
9,320,000
Palomar Pomerado Health, California, General Obligation
Bonds, Series 2009A - AGC Insured
0
.000
08/01/33
7,047,884
1,800,000
Rialto Unified School District, San Bernardino County,
California, General Obligation Bonds, 2010 Election Series
2011A
0
.000
08/01/28
1,695,081
4,080,000
San Diego County Regional Airport Authority, California,
Airport Revenue Bonds, Subordinate Series 2017A
5
.000
07/01/47
4,133,408
2,965,000
San Juan Unified School District, Sacramento County,
California, General Obligation Bonds, Series 2004A - NPFG
Insured
0
.000
08/01/28
2,785,295
4,005,000
San Mateo Union High School District, San Mateo County,
California, General Obligation Bonds, Election of 2000, Series
2002B - FGIC Insured
0
.000
09/01/26
3,956,401
15,750,000
San Ysidro School District, San Diego County, California,
General Obligation Bonds, 1997 Election Series 2012G - AGM
Insured
0
.000
08/01/39
9,285,381
20,990,000
Tobacco Securitization Authority of Southern California,
Tobacco Settlement Asset-Backed, Capital Appreciation Bonds,
San Diego County Tobacco Asset Securitization Corporation,
Refunding Senior Series 2019B-Class 2
0
.000
06/01/54
3,857,276
TOTAL CALIFORNIA
128,749,436
COLORADO - 15.7% (9.4% of Total Investments)
1,750,000
Aerotropolis Regional Transportation Authority, Colorado,
Special Revenue Bonds, Series 2019
5
.000
12/01/51
1,603,098
6,600,000
Aerotropolis Regional Transportation Authority, Colorado,
Special Revenue Bonds, Series 2021
4
.375
12/01/52
5,506,377
1,250,000
(c)
Aerotropolis Regional Transportation Authority, Colorado,
Special Revenue Bonds, Series 2024
5
.500
12/01/44
1,272,337
2,500,000
Arapahoe County Water and Wastewater Authority, Colorado,
Revenue Bonds, Refunding Series 2019
4
.000
12/01/38
2,556,926
1,610,000
Arvada, Colorado, Water Enterprise Revenue Bonds, Series
2022
4
.000
12/01/48
1,517,836
2,220,000
Arvada, Colorado, Water Enterprise Revenue Bonds, Series
2022
4
.000
12/01/52
2,033,896
3,315,000
Aurora, Colorado, Sewer Improvement Revenue Bonds, Seam
Facility and Other System Improvements Project, First Lien
Series 2021
4
.000
08/01/46
3,225,891
2,000,000
Aurora, Colorado, Sewer Improvement Revenue Bonds, Seam
Facility and Other System Improvements Project, First Lien
Series 2021
4
.000
08/01/51
1,879,348
9,000,000
Boulder Valley School District RE2, Boulder County, Colorado,
General Obligation Bonds, Series 2019A
4
.000
12/01/48
8,466,271
Portfolio of Investments January 31, 2026
(continued)
NEA
4
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,010,000
Brighton, Colorado, Water Activity Enterprise Revenue Bonds,
Water System Project, Series 2022
5
.000
%
06/01/42
$
3,261,174
7,975,000
Brighton, Colorado, Water Activity Enterprise Revenue Bonds,
Water System Project, Series 2022
5
.000
06/01/52
8,206,762
1,150,000
Castle Oaks Metropolitan District 3, Castle Rock, Douglas
County, Colorado, General Obligation Limited Tax Bonds,
Refunding & Improvement Series 2020 - AGM Insured
4
.000
12/01/50
1,043,508
1,060,000
Centerra Metropolitan District 1, Loveland, Colorado, Special
Revenue Bonds, Improvement Series 2018
5
.250
12/01/48
1,060,960
1,575,000
(c)
Centerra Metropolitan District 1, Loveland, Colorado, Special
Revenue Bonds, Refunding & Improvement Series 2017
5
.000
12/01/37
1,575,758
3,620,000
(c)
Centerra Metropolitan District 1, Loveland, Colorado, Special
Revenue Bonds, Refunding & Improvement Series 2017
5
.000
12/01/47
3,569,085
1,445,000
Colorado Bridge and Tunnel Enterprise, Colorado, Senior
Infrastructure Revenue Bonds, Series 2024A - AGM Insured
5
.500
12/01/54
1,547,389
2,375,000
Colorado Bridge and Tunnel Enterprise, Colorado, Senior
Infrastructure Revenue Bonds, Series 2025A
5
.250
12/01/50
2,512,120
2,545,000
Colorado Educational and Cultural Facilities Authority, Revenue
Bonds, University of Denver, Series 2017A
5
.000
03/01/47
2,568,327
2,005,000
(d)
Colorado Health Facilities Authority, Colorado, Health Facilities
Revenue Bonds, The Evangelical Lutheran Good Samaritan
Society Project, Refunding Series 2017, (Pre-refunded 6/01/27)
5
.000
06/01/34
2,074,740
4,615,000
(d)
Colorado Health Facilities Authority, Colorado, Health Facilities
Revenue Bonds, The Evangelical Lutheran Good Samaritan
Society Project, Refunding Series 2017, (Pre-refunded 6/01/27)
5
.000
06/01/35
4,775,524
7,205,000
(d)
Colorado Health Facilities Authority, Colorado, Health Facilities
Revenue Bonds, The Evangelical Lutheran Good Samaritan
Society Project, Refunding Series 2017, (Pre-refunded 6/01/27)
5
.000
06/01/36
7,455,612
8,715,000
(d)
Colorado Health Facilities Authority, Colorado, Health Facilities
Revenue Bonds, The Evangelical Lutheran Good Samaritan
Society Project, Refunding Series 2017, (Pre-refunded 6/01/27)
5
.000
06/01/37
9,018,135
4,105,000
(d)
Colorado Health Facilities Authority, Colorado, Health Facilities
Revenue Bonds, The Evangelical Lutheran Good Samaritan
Society Project, Refunding Series 2017, (Pre-refunded 6/01/27)
5
.000
06/01/42
4,247,785
8,545,000
(d)
Colorado Health Facilities Authority, Colorado, Health Facilities
Revenue Bonds, The Evangelical Lutheran Good Samaritan
Society Project, Refunding Series 2017, (Pre-refunded 6/01/27)
5
.000
06/01/47
8,842,221
10,575,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
AdventHealth Obligated Group, Series 2021A
4
.000
11/15/46
9,766,121
33,390,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
AdventHealth Obligated Group, Series 2021A
4
.000
11/15/50
30,106,868
3,000,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Adventist Health System/Sunbelt Obligated Group, Series
2018A
5
.000
11/15/48
3,035,497
1,000,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Christian Living Neighborhoods Project, Refunding Series 2016
5
.000
01/01/31
1,000,825
4,290,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Christian Living Neighborhoods Project, Refunding Series 2016
5
.000
01/01/37
4,292,288
25,540,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
CommonSpirit Health, Series 2019A-2
5
.000
08/01/44
26,222,689
11,075,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
CommonSpirit Health, Series 2019A-2
4
.000
08/01/49
9,486,415
17,205,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
CommonSpirit Health, Series 2019A-2 - BAM Insured
4
.000
08/01/49
15,157,958
3,410,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
CommonSpirit Health, Series 2022A
5
.500
11/01/47
3,594,020
3,500,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Covenant Living Communities & Services, Series 2020A
4
.000
12/01/50
2,936,629
750,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Frasier Meadows Project, Refunding & Improvement Series
2017A
5
.250
05/15/37
762,396
7,080,000
(d)
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Parkview Medical Center, Series 2020A, (Pre-refunded 9/01/30)
4
.000
09/01/45
7,586,430
5
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,000,000
(d)
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Parkview Medical Center, Series 2020A, (Pre-refunded 9/01/30)
4
.000
%
09/01/50
$
3,214,589
4,000,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
Sanford Health, Series 2019A
4
.000
11/01/39
4,007,979
3,300,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
SCL Health System, Refunding Series 2019A
4
.000
01/01/38
3,344,228
5,000,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
SCL Health System, Refunding Series 2019B
4
.000
01/01/40
5,027,187
4,150,000
Colorado High Performance Transportation Enterprise, C-470
Express Lanes Revenue Bonds, Senior Lien Series 2017
5
.000
12/31/56
4,051,430
1,886,000
Colorado International Center Metropolitan District 14, Denver,
Colorado, Limited Tax General Obligation Bonds, Refunding &
Improvement Series 2018
5
.625
12/01/32
1,896,375
2,660,000
Colorado International Center Metropolitan District 14, Denver,
Colorado, Limited Tax General Obligation Bonds, Refunding &
Improvement Series 2018
5
.875
12/01/46
2,660,432
2,000,000
Colorado School of Mines Board of Trustees, Golden,
Colorado, Institutional Enterprise Revenue Bonds, Series
2023C
5
.250
12/01/53
2,088,289
10,000,000
Colorado Springs, Colorado, Utilities System Revenue Bonds,
Improvement Series 2023A
5
.250
11/15/53
10,573,784
1,500,000
(d)
Colorado State Board of Governors, Colorado State University
Auxiliary Enterprise System Revenue Bonds, Refunding Series
2016B, (Pre-refunded 3/01/27)
5
.000
03/01/41
1,544,759
6,000,000
Colorado State Board of Governors, Colorado State University
Auxiliary Enterprise System Revenue Bonds, Refunding Series
2017E
4
.000
03/01/43
5,888,066
7,000,000
Colorado State, Building Excellent Schools Today, Certificates
of Participation, Series 2019O
4
.000
03/15/44
6,914,520
2,550,000
Colorado State, Certificates of Participation, Lease Purchase
Agreement Department of Transportation Second Amended &
Restated Headquaters Facilities, Refunding Series 2020
4
.000
06/15/41
2,577,988
5,000,000
Colorado State, Certificates of Participation, Rural Series 2018A
4
.000
12/15/35
5,117,700
7,115,000
(d)
Commerce City, Colorado, Sales and Use Tax Revenue Bonds,
Series 2016, (Pre-refunded 8/01/26)
5
.000
08/01/41
7,207,946
1,000,000
(d)
Commerce City, Colorado, Sales and Use Tax Revenue Bonds,
Series 2016, (Pre-refunded 8/01/26)
5
.000
08/01/46
1,013,063
1,250,000
Copper Ridge Metropolitan District, Colorado Springs,
Colorado, Tax Increment and Sales Tax Supported Revenue
Bonds, Series 2019
5
.000
12/01/39
1,255,989
15,355,378
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
9,920,161
2,930,000
Denver City and County, Colorado, Airport System Revenue
Bonds, Series 2022B
5
.000
11/15/47
3,058,962
5,000,000
Denver City and County, Colorado, Airport System Revenue
Bonds, Subordinate Lien Series 2018B
5
.000
12/01/43
5,148,156
6,500,000
Denver City and County, Colorado, Dedicated Tax Revenue
Bonds, Current Interest Series 2018A-1
5
.000
08/01/48
6,533,922
10,000,000
Denver City and County, Colorado, Dedicated Tax Revenue
Bonds, Series 2021A
4
.000
08/01/51
9,173,099
5,120,000
Denver Convention Center Hotel Authority, Colorado, Revenue
Bonds, Convention Center Hotel, Refunding Senior Lien Series
2016
5
.000
12/01/32
5,181,607
2,935,000
Denver Convention Center Hotel Authority, Colorado, Revenue
Bonds, Convention Center Hotel, Refunding Senior Lien Series
2016
5
.000
12/01/35
2,962,413
1,800,000
Denver Convention Center Hotel Authority, Colorado, Revenue
Bonds, Convention Center Hotel, Refunding Senior Lien Series
2016
5
.000
12/01/40
1,808,468
315,000
(c)
Denver Urban Renewal Authority, Colorado, Tax Increment
Revenue Bonds, 9th and Colorado Urban Redevelopement
Area, Series 2018A
5
.250
12/01/39
316,501
Portfolio of Investments January 31, 2026
(continued)
NEA
6
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,500,000
(c)
DIATC Metropolitan District, Commerce City, Adams County,
Colorado, General Obligation Limited Tax Bonds, Refunding &
Improvement Series 2019
5
.000
%
12/01/49
$
1,468,722
45,540,000
E-470 Public Highway Authority, Colorado, Senior Revenue
Bonds, Series 2000B - NPFG Insured
0
.000
09/01/30
40,378,320
16,635,000
E-470 Public Highway Authority, Colorado, Senior Revenue
Bonds, Series 2000B - NPFG Insured
0
.000
09/01/32
13,817,598
49,250,000
E-470 Public Highway Authority, Colorado, Senior Revenue
Bonds, Series 2000B - NPFG Insured
0
.000
09/01/33
39,445,674
9,310,000
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds,
Series 2004A - NPFG Insured
0
.000
09/01/28
8,716,978
2,900,000
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds,
Series 2004A - NPFG Insured
0
.000
09/01/34
2,224,976
18,500,000
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds,
Series 2004A - NPFG Insured
0
.000
03/01/36
13,228,974
5,950,000
(c)
Falcon Area Water and Wastewater Authority (El Paso County,
Colorado), Tap Fee Revenue Bonds, Series 2022A
6
.750
12/01/34
6,046,973
3,850,000
Firestone, Colorado, Water Enterprise Revenue Bones, Series
2020 - BAM Insured
4
.000
12/01/49
3,576,206
5,000,000
Gunnison Watershed School District RE1J, Gunnison and
Saguache Counties, Colorado, General Obligation Bonds,
Series 2023
5
.000
12/01/47
5,218,373
4,070,000
(c)
Hess Ranch Metropolitan District 5, Parker, Colorado, Special
Assessment Revenue Bonds, Special Improvement District 2,
Series 2024
5
.500
12/01/44
4,120,251
5,700,000
Johnstown, Colorado, Wastewater Revenue Bonds, Series 2021
- AGM Insured
4
.000
12/01/46
5,360,363
1,440,000
Johnstown, Colorado, Wastewater Revenue Bonds, Series 2021
- AGM Insured
4
.000
12/01/51
1,312,206
2,000,000
Leyden Rock Metropolitan District, Arvada, Jefferson County,
Colorado, General Obligation Limited Tax Bonds, Convertible
to Unlimited Tax, Refunding & Improvement Series 2021 - AGM
Insured
4
.000
12/01/51
1,797,472
1,000,000
Lorson Ranch Metropolitan District 2, El Paso County, Colorado,
Limited Tax General Obligation Bonds, Series 2016
5
.000
12/01/36
1,008,695
1,000,000
Louisville, Boulder County, Colorado, General Obligation
Bonds, Limited Tax, Series 2017
4
.000
12/01/36
1,005,373
1,730,000
Meridian Ranch Metropolitan District 2018, Subdistrict, El Paso
County, Colorado, General Obligation Limited Tax Bonds,
Series 2022
6
.750
12/01/52
1,771,039
1,230,000
North Pine Vistas Metropolitan District 3, Castle Pines, Douglas
County, Colorado, Limited Tax General Obligation Bonds,
Refunding & Improvement Senior Series 2021A - AGM Insured
4
.000
12/01/51
1,094,116
1,085,000
North Range Metropolitan District 2, Adams County, Colorado
, Limited Tax General Obligation Bonds, Refunding Special
Revenue & Improvement Series 2017A
5
.750
12/01/47
1,084,943
5,000,000
Northern Colorado Water Conservancy District Building
Corporation, Certificates of Participation, Refunding Series
2021
4
.000
07/01/51
4,587,925
2,325,000
Northern Colorado Water Conservancy District, Certificates of
Participation, Series 2022
5
.000
07/01/42
2,481,870
4,055,000
Park Creek Metropolitan District, Colorado, Senior Limited
Property Tax Supported Revenue Bonds, Series 2019A - AGM
Insured
4
.000
12/01/39
4,086,613
3,000,000
Parker Water and Sanitation District, Douglas County,
Colorado, Water and Sewer Enterprise Revenue Bonds,
Refunding & Improvement Series 2022
4
.000
11/01/47
2,831,951
3,168,000
(c)
Platte River Metropolitan District, Weld County, Colorado,
General Obligation Bonds, Limited Tax Refunding Series
2023A
6
.500
08/01/53
3,223,503
595,000
(c)
Pueblo Urban Renewal Authority, Colorado, Tax Increment
Revenue Bonds, EVRAZ Project, Series 2021A
4
.750
12/01/45
563,695
7
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
9,865,000
Rampart Range Metropolitan District 1, Lone Tree, Colorado,
Limited Tax Supported and Special Revenue Bonds, Refunding
& Improvement Series 2017
5
.000
%
12/01/42
$
10,004,764
3,600,000
Rampart Range Metropolitan District 1, Lone Tree, Colorado,
Limited Tax Supported and Special Revenue Bonds, Refunding
& Improvement Series 2017
5
.000
12/01/47
3,628,259
2,350,000
Roaring Fork Transporation Authority, Colorado, Property Tax
Revenue Bonds, Series 2021A
4
.000
12/01/46
2,239,165
850,000
Sierra Ridge Metropolitan District 2, Douglas County,
Colorado, Limited Tax General Obligation Bonds, Refunding
Bonds, Series 2022 - AGM Insured
5
.000
12/01/52
866,597
1,000,000
(c)
Sky Ranch Community Authority Board (Arapahoe County,
Colorado), Limited Tax Supported District No. 3 Senior Bonds
(Tax-Exempt Fixed Rate), Series 2022A and Subordinate Bonds
(Tax-Exempt Fixed Rate), Series 2022B(3)
5
.750
12/01/52
1,011,085
1,245,000
Southlands Metropolitan District 1, Colorado, Limited Tax
General Obligation Bonds, Series 2017A-1
5
.000
12/01/47
1,209,936
3,250,000
Thompson Crossing Metropolitan District 2, Johnstown,
Larimer County, Colorado, General Obligation Bonds, Limited
Tax Convertible to Unlimited Tax, Series 2016B - AGM Insured
5
.000
12/01/46
3,261,075
515,000
(c)
Thompson Crossing Metropolitan District 6, Larimer County,
Colorado, General Obligation Limited Tax Bonds, Refunding &
Improvement Convertible to Unlimited Tax Series 2020
3
.000
12/01/30
483,715
1,300,000
(c)
Thompson Crossing Metropolitan District 6, Larimer County,
Colorado, General Obligation Limited Tax Bonds, Refunding &
Improvement Convertible to Unlimited Tax Series 2020
5
.000
12/01/44
1,275,869
995,000
Transport Metropolitan District 3, In the City of Aurora, Adams
County, Colorado, General Obligation Limited Bonds, Series
2021A-1
5
.000
12/01/51
775,425
1,000,000
Triview Metropolitan District, El Paso County, Colorado, Water
and Wastewater Enterprise Revenue Bonds, Green Series 2020
- BAM Insured
3
.250
12/01/45
801,606
2,500,000
University of Colorado, Enterprise System Revenue Bonds,
Refunding Green Series 2021A
4
.000
06/01/46
2,352,327
2,500,000
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
2,510,168
5,000,000
Weld County School District 6, Greeley, Colorado, General
Obligation Bonds, Series 2020
5
.000
12/01/44
5,219,395
2,175,000
Weld County School District RE1, Colorado, General
Obligation Bonds, Series 2017
5
.000
12/15/30
2,218,589
5,650,000
Weld County School District RE-4, Windsor, Colorado, General
Obligation Bonds, Series 2023
5
.250
12/01/47
6,003,797
7,810,000
West Globeville Metropolitan District 1, Denver, Colorado,
General Obligation Limited Tax Bonds, Series 2022
6
.750
12/01/52
7,837,855
10,825,000
(c)
West Globeville Metropolitan District 1, Denver, Colorado,
General Obligation Limited Tax Bonds, Series 2024A-2
8
.000
12/01/54
7,086,873
1,785,000
(c)
West Meadow Metropolitan District, Town of Fraser, Grand
County, Colorado, Limited Tax General Obligation Bonds,
Senior Series 2023A
6
.500
12/01/50
1,832,330
500,000
Westerly Metropolitan District 4, Weld County, Colorado,
General Obligation Limited Tax Bonds, Series 2021A-1
5
.000
12/01/50
477,862
TOTAL COLORADO
547,806,330
CONNECTICUT - 0.7% (0.4% of Total Investments)
1,650,000
Connecticut Health and Educational Facilities Authority,
Revenue Bonds, Fairfield University, Series 2016Q-1
5
.000
07/01/46
1,653,895
6,000,000
Connecticut Health and Educational Facilities Authority,
Revenue Bonds, Hartford HealthCare Issue, Series 2021A
4
.000
07/01/51
5,271,706
2,800,000
(c)
Connecticut Health and Educational Facilities Authority,
Revenue Bonds, McLean Affiliates, Series 2020A
5
.000
01/01/55
2,336,632
7,165,000
Connecticut Health and Educational Facilities Authority,
Revenue Bonds, Quinnipiac University, Refunding Series 2015L
5
.000
07/01/45
7,167,573
Portfolio of Investments January 31, 2026
(continued)
NEA
8
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CONNECTICUT
(continued)
$
500,000
Connecticut Health and Educational Facilities Authority,
Revenue Bonds, Sacred Heart University, Series 2017I-1
5
.000
%
07/01/34
$
513,902
7,500,000
Connecticut State, Special Tax Obligation Bonds,
Transportation Infrastructure Purposes, Series 2020A
5
.000
05/01/37
8,127,945
TOTAL CONNECTICUT
25,071,653
DELAWARE - 0.0% (0.0% of Total Investments)
1,000,000
Delaware Health Facilities Authroity, Revenue Bonds, Beebe
Medical Center Project, Series 2018
5
.000
06/01/48
956,483
TOTAL DELAWARE
956,483
DISTRICT OF COLUMBIA - 4.3% (2.6% of Total Investments)
1,250,000
District of Columbia Student Dormitory Revenue Bonds,
Provident Group - Howard Properties LLC Issue, Series 2013
5
.000
10/01/45
1,181,699
107,000,000
District of Columbia Tobacco Settlement Corporation, Tobacco
Settlement Asset-Backed Bonds, Series 2006A
0
.000
06/15/46
25,082,769
19,035,000
District of Columbia Water and Sewer Authority, Public Utility
Revenue Bonds, Refunding Subordinate Lien Series 2014C
4
.000
10/01/41
19,035,476
5,000,000
District of Columbia, General Obligation Bonds, Series 2021D
4
.000
02/01/46
4,655,357
6,600,000
District of Columbia, General Obligation Bonds, Series 2024A
5
.000
08/01/49
6,909,463
3,500,000
District of Columbia, Revenue Bonds, Georgetown University,
Refunding Series 2017
5
.000
04/01/35
3,569,508
60,000
(d)
District of Columbia, Revenue Bonds, Georgetown University,
Refunding Series 2017, (Pre-refunded 4/01/27)
5
.000
04/01/36
61,863
3,440,000
District of Columbia, Revenue Bonds, Georgetown University,
Refunding Series 2017
5
.000
04/01/36
3,503,115
5,455,000
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
5,087,163
4,750,000
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
4,794,670
13,710,000
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
12,022,717
7,000,000
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
4,785,677
32,000,000
(d)
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
32,873,075
18,000,000
Metropolitan Washington Airports Authority, Virginia,
Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital
Appreciation, Second Senior Lien Series 2010B
6
.500
10/01/44
19,158,381
3,000,000
Washington Metropolitan Area Transit Authority, District of
Columbia, Gross Revenue Bonds, Series 2018
5
.000
07/01/43
3,041,812
4,270,000
Washington Metropolitan Area Transit Authority, Second Lien
Dedicated Revenue Bonds, Sustainability- Climate Transition,
Series 2024A
5
.250
07/15/59
4,458,157
TOTAL DISTRICT OF COLUMBIA
150,220,902
FLORIDA - 7.2% (4.3% of Total Investments)
2,800,000
Bay County, Florida, Educational Facilities Revenue Refunding
Bonds, Bay Haven Charter Academy, Inc. Project, Series 2016
5
.000
09/01/46
2,799,811
2,830,000
City of Miami Beach, Florida, Stormwater Revenue Bonds,
Series 2015
5
.000
09/01/41
2,833,958
5,810,000
Collier County, Florida, Tourist Development Tax Revenue
Bonds, Series 2018
4
.000
10/01/43
5,824,718
530,000
(c)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Renaissance Charter School, Inc.
Projects, Series 2020C
5
.000
09/15/50
463,698
9
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
6,855,000
(a)
Florida Housing Finance Corporation, Homeowner Mortgage
Revenue Bonds, Series 2024-3, (UB)
4
.700
%
07/01/49
$
6,889,584
5,940,000
(a)
Florida Housing Finance Corporation, Homeowner Mortgage
Revenue Bonds, Series 2024-3, (UB)
4
.750
07/01/54
5,914,172
2,500,000
Florida Housing Finance Corporation, Homeowner Mortgage
Revenue Bonds, Series 2026-1
4
.850
07/01/51
2,511,530
1,590,000
Florida Municipal Loan Council, Revenue Bonds, Series 2000B
- NPFG Insured
0
.000
11/01/26
1,548,572
2,000,000
Fort Myers, Florida, Utility System Revenue Bonds, Refunding
Series 2019A
4
.000
10/01/49
1,831,457
5,875,000
Hillsborough County Industrial Development Authority, Florida,
Health System Revenue Bonds, BayCare Health System Series
2024C
5
.250
11/15/49
6,225,836
3,760,000
(a)
Hillsborough County Industrial Development Authority, Florida,
Health System Revenue Bonds, BayCare Health System Series
2024C, (UB)
4
.125
11/15/51
3,422,784
13,480,000
Hillsborough County Industrial Development Authority, Florida,
Hospital Revenue Bonds, Florida Health Sciences Center Inc
D/B/A Tampa General Hospital, Series 2020A
4
.000
08/01/50
11,475,684
5,060,000
Hollywood, Florida, General Obligation Bonds, Series 2022
5
.000
07/01/47
5,244,869
205,000
Miami Health Facilities Authority, Florida, Health Facilities
Revenue Bonds, Miami Jewish Health System Inc. Project,
Series 2017
5
.000
07/01/32
200,161
5,035,000
Miami Health Facilities Authority, Florida, Health Facilities
Revenue Bonds, Miami Jewish Health System Inc. Project,
Series 2017
5
.125
07/01/46
4,558,554
2,420,000
Miami-Dade County Educational Facilities Authority, Florida,
Revenue Bonds, University of Miami, Refunding Series 2024B
5
.250
04/01/45
2,614,489
27,470,000
Miami-Dade County Educational Facilities Authority, Florida,
Revenue Bonds, University of Miami, Series 2018A
5
.000
04/01/53
27,610,572
10,000,000
Miami-Dade County Expressway Authority, Florida, Toll System
Revenue Bonds, Series 2010A
5
.000
07/01/35
10,012,627
5,560,000
Miami-Dade County Health Facility Authority, Florida,
Hospital Revenue Bonds, Nicklaus Children's Hospital Project,
Refunding Series 2021A
4
.000
08/01/51
4,831,760
3,000,000
Miami-Dade County Industrual Development Authority,
Florida, Revenue Bonds, Doral Academy, Seres 2018
5
.000
01/15/48
2,927,588
7,000,000
(a)
Miami-Dade County School District, Florida, General
Obligation Bonds, School Series 2022A - BAM Insured, (UB)
5
.000
03/15/52
7,145,767
14,015,000
Miami-Dade County, Florida, Aviation Revenue Bonds,
Refunding Series 2016A
5
.000
10/01/41
14,136,262
6,500,000
Miami-Dade County, Florida, Aviation Revenue Bonds, Series
2025B
5
.250
10/01/55
6,820,601
4,715,000
Miami-Dade County, Florida, Public Facilities Revenue Bonds,
Jackson Health System, Series 2017
5
.000
06/01/38
4,818,961
7,000,000
Miami-Dade County, Florida, Transit System Sales Surtax
Revenue Bonds, Series 2018
4
.000
07/01/48
6,358,745
5,000,000
Miami-Dade County, Florida, Transit System Sales Surtax
Revenue Bonds, Series 2022
5
.000
07/01/51
5,075,696
6,000,000
Miami-Dade County, Florida, Water and Sewer System
Revenue Bonds, Series 2019B
4
.000
10/01/44
5,794,617
3,965,000
Miami-Dade County, Florida, Water and Sewer System
Revenue Bonds, Series 2019B
4
.000
10/01/49
3,598,621
8,900,000
Miami-Dade County, Florida, Water and Sewer System
Revenue Bonds, Series 2024A
5
.250
10/01/54
9,332,442
11,240,000
Orange County Health Facilities Authority, Florida, Hospital
Revenue Bonds, Orlando Health Obligated Group, Inc., Series
2022
4
.000
10/01/52
9,707,555
3,260,000
Orange County Health Facilities Authority, Florida, Revenue
Bonds, Presbyterian Retirement Communities Project, Series
2024
5
.000
08/01/54
3,226,414
1,095,000
Osceola County, Florida, Transportation Revenue Bonds,
Osceola Parkway, Refunding & Improvement Capital
Appreciation Series 2019A-2
0
.000
10/01/32
860,036
Portfolio of Investments January 31, 2026
(continued)
NEA
10
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
4,250,000
Osceola County, Florida, Transportation Revenue Bonds,
Osceola Parkway, Refunding & Improvement Series 2019A-1
5
.000
%
10/01/49
$
4,264,886
2,155,000
Palm Beach County Health Facilities Authority,
Florida  Retirement Communities Revenue Bonds, ACTS
Retirement - Life Communities, Inc Obligated Group, Series
2018A
5
.000
11/15/45
2,173,130
4,680,000
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
4,748,419
8,200,000
Putnam County Development Authority, Florida, Pollution
Control Revenue Bonds, Seminole Electric Cooperatice, Inc.
Project, Refunding Series 2018A
5
.000
03/15/42
8,393,403
12,170,000
Sarasota County Public Hospital District, Florida, Hospital
Revenue Bonds, Sarasota Memorial Hospital Project, Series
2018
4
.000
07/01/48
10,798,501
6,625,000
South Broward Hospital District, Florida, Hospital Revenue
Bonds, Refunding Series 2015
4
.000
05/01/33
6,630,981
8,000,000
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
8,149,167
8,595,000
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
8,654,502
4,000,000
Tampa, Florida, Health System Revenue Bonds, Baycare Health
System, Series 2016A
4
.000
11/15/46
3,536,679
7,400,000
Volusia County Educational Facilities Authority, Florida,
Revenue Bonds, Stetson University Inc. Project, Series 2015
5
.000
06/01/45
7,353,101
TOTAL FLORIDA
251,320,910
GEORGIA - 5.4% (3.2% of Total Investments)
6,750,000
Atlanta, Georgia, Airport General Revenue Bonds, Green Series
2023B-1
5
.000
07/01/53
6,984,820
10,235,000
Clarke County Hospital Authority, Georgia, Revenue
Anticipation Certificates, Piedmont Healthcare, Inc. Project,
Series 2016A
5
.000
07/01/46
10,258,496
2,000,000
Cobb County Kennestone Hospital Authority, Georgia,
Revenue Anticipation Certificates, Wellstar Health System,
Series 2017A
5
.000
04/01/42
2,022,831
10,000,000
Cobb County Kennestone Hospital Authority, Georgia,
Revenue Anticipation Certificates, Wellstar Health System,
Series 2017A
5
.000
04/01/47
10,042,438
2,500,000
Columbia County Hospital Authority, Georgia, Revenue
Anticipation Certificates, WellStar Health System, Inc. Project,
Series 2023B
5
.125
04/01/53
2,563,038
5,300,000
Crisp County Hospital Authority, Georgia, Revenue Anticipation
Certificates, Crisp County Hospital Project, Series 2021
4
.000
07/01/46
4,938,797
5,725,000
Fayette County Hospital Authority, Georgia, Revenue
Anticipation Certificates, Piedmont Healthcare, Inc. Project,
Series 2016A
5
.000
07/01/46
5,738,143
4,330,000
Fulton County Development Authority, Georgia, Hospital
Revenue Bonds, Wellstar Health System, Inc Project, Series
2017A
5
.000
04/01/42
4,379,428
7,250,000
Fulton County Development Authority, Georgia, Hospital
Revenue Bonds, Wellstar Health System, Inc Project, Series
2017A
5
.000
04/01/47
7,280,768
6,370,000
Fulton County Development Authority, Georgia, Hospital
Revenue Bonds, Wellstar Health System, Inc Project, Series
2017A
4
.000
04/01/50
5,613,606
9,495,000
(a)
Fulton County Development Authority, Georgia, Revenue
Bonds, Georgia Tech Facilities, Series 2024, (UB)
5
.000
06/15/56
9,813,076
4,000,000
Fulton County Development Authority, Georgia, Revenue
Bonds, Piedmont Healthcare, Inc. Project, Series 2016A
5
.000
07/01/46
4,009,183
5,000,000
Fulton County Development Authority, Georgia, Revenue
Bonds, Piedmont Healthcare, Inc. Project, Series 2019A
4
.000
07/01/49
4,464,232
11
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
(continued)
$
7,500,000
Gainesville and Hall County Hospital Authority, Georgia,
Revenue Anticipation Certificates, Northeast Georgia Health
Services Inc., Series 2017B
5
.500
%
02/15/42
$
7,655,239
2,000,000
Gainesville and Hall County Hospital Authority, Georgia,
Revenue Anticipation Certificates, Northeast Georgia Health
Services Inc., Series 2021A
4
.000
02/15/40
1,997,086
6,665,000
Georgia Housing and Finance Authority, Single Family
Mortgage Bonds, Series 2024A
4
.700
12/01/54
6,610,400
8,000,000
Georgia Ports Authority, Revenue Bonds, Series 2021
4
.000
07/01/51
7,399,899
11,000,000
Griffin-Spalding County Hospital Authority, Georgia, Revenue
Anticipation Certificates, Wellstar Health System Inc., Series
2017A
4
.000
04/01/42
10,537,388
1,350,000
Henry County Water and Sewerage Authority, Georgia,
Revenue Bonds, Refunding Series 2005
5
.250
02/01/27
1,389,184
1,860,000
Main Street Natural Gas Inc., Georgia, Gas Supply Revenue
Bonds, Series 2019A
5
.000
05/15/43
1,888,986
29,095,000
(a)
Main Street Natural Gas Inc., Georgia, Gas Supply Revenue
Bonds, Series 2019A, (UB)
5
.000
05/15/49
30,160,293
3,425,000
(b)
Main Street Natural Gas Inc., Georgia, Gas Supply Revenue
Bonds, Series 2023C, (Mandatory Put 9/01/30)
5
.000
09/01/53
3,642,170
10,160,000
(a),(b)
Main Street Natural Gas Inc., Georgia, Gas Supply Revenue
Bonds, Series 2023C, (Mandatory Put 9/01/30), (UB)
5
.000
09/01/53
10,804,217
6,310,000
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax
Revenue Bonds, Third Indenture, Series 2015B
5
.000
07/01/43
6,342,706
5,680,000
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &
4 Project J Bonds, Series 2015A
5
.000
07/01/60
5,611,534
3,300,000
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &
4 Project J Bonds, Series 2015A
5
.500
07/01/60
3,300,919
3,750,000
Municipal Electric Authority of Georgia, Project One Revenue
Bonds, Subordinate Series 2024A
5
.250
01/01/49
3,896,794
8,230,000
Private Colleges and Universities Authority, Georgia, Revenue
Bonds, Mercer University, Series 2015
5
.000
10/01/40
8,234,052
TOTAL GEORGIA
187,579,723
HAWAII - 0.4% (0.2% of Total Investments)
10,000,000
(a)
Hawaii State, Airport System Revenue Bonds, Series 2025B,
(UB)
5
.000
07/01/49
10,614,500
3,500,000
Honolulu City and County, Hawaii, Wastewater System Revenue
Bonds, First Bond Resolution, Green Senior Series 2023
5
.000
07/01/48
3,657,023
TOTAL HAWAII
14,271,523
IDAHO - 1.1% (0.7% of Total Investments)
5,000,000
Boise City Water Renewal System, Idaho, Revenue Bonds,
Refunding Series 2022
5
.000
09/01/47
5,207,149
855,000
Boise State University, Idaho, General Revenue Bonds, Project
& Refunding Series 2025A
5
.000
04/01/50
885,700
6,460,000
Boise State University, Idaho, General Revenue Bonds, Series
2023A
5
.250
04/01/53
6,751,402
7,885,000
Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's
Health System Project, Series 2021A
4
.000
03/01/51
7,046,120
5,500,000
(c)
Idaho Housing and Finance Association, Nonprofit Facilities
Revenue Bonds, The College of Idaho Project, Series 2023
5
.875
11/01/53
5,530,503
2,570,000
(a)
Idaho Housing and Finance Association, Single Family
Mortgage Revenue Bonds, Series 2024A, (UB)
4
.600
01/01/49
2,551,253
4,610,000
(a)
Idaho Housing and Finance Association, Single Family
Mortgage Revenue Bonds, Series 2024A, (UB)
4
.650
01/01/54
4,564,554
3,950,000
(c)
Spring Valley Community Infrastructure District 1, Eagle, Idaho,
Special Assessment Bonds, Assessment Area Two, Series 2025
6
.250
09/01/54
4,064,969
3,325,000
Spring Valley Community Infrastructure District 1, Eagle, Idaho,
Special Assessment Bonds, Series 2024
6
.250
09/01/53
3,405,778
TOTAL IDAHO
40,007,428
Portfolio of Investments January 31, 2026
(continued)
NEA
12
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS - 13.7% (8.2% of Total Investments)
$
1,000,000
Board of Regents of Illinois State University, Auxiliary Facilities
System Revenue Bonds, Series 2018A - AGM Insured
5
.000
%
04/01/34
$
1,042,068
285,000
Board of Regents of Illinois State University, Auxiliary Facilities
System Revenue Bonds, Series 2018A - AGM Insured
5
.000
04/01/37
294,725
1,370,000
Board of Regents of Illinois State University, Auxiliary Facilities
System Revenue Bonds, Series 2018A - AGM Insured
5
.000
04/01/38
1,413,672
4,595,000
Bolingbrook, Will and DuPage Counties, Illinois, General
Obligation Bonds, Refunding Series 2002B - FGIC Insured
0
.000
01/01/32
3,703,533
4,000,000
Bolingbrook, Will and DuPage Counties, Illinois, General
Obligation Bonds, Refunding Series 2002B - FGIC Insured
0
.000
01/01/34
2,957,142
350,000
Chicago Board of Education, Illinois, Unlimited Tax General
Obligation Bonds, Dedicated Tax Revenues, Series 1999A -
NPFG Insured
5
.500
12/01/26
354,245
4,000,000
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue
Bonds, Second Lien Series 2020A
4
.000
12/01/50
3,487,917
14,765,000
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue
Bonds, Second Lien Series 2020A - BAM Insured
4
.000
12/01/50
13,472,117
4,000,000
Chicago, Illinois, General Airport Revenue Bonds, O'Hare
International Airport, Senior Lien Series 2018B
5
.000
01/01/53
4,019,892
17,150,000
(a)
Chicago, Illinois, General Airport Revenue Bonds, O'Hare
International Airport, Senior Lien Series 2024B, (UB)
5
.500
01/01/59
18,181,958
1,000,000
(a)
Chicago, Illinois, General Obligation Bonds, Chicago Works
Series 2023A, (UB)
5
.500
01/01/40
1,060,479
1,390,000
Chicago, Illinois, General Obligation Bonds, Series 2019A
5
.000
01/01/40
1,405,736
5,425,000
Chicago, Illinois, General Obligation Bonds, Series 2019A
5
.500
01/01/49
5,443,479
5,750,000
Chicago, Illinois, Midway Airport Revenue Bonds, Refunding
Senior Lien Series 2025B
5
.000
01/01/46
6,054,905
9,250,000
Chicago, Illinois, Midway Airport Revenue Bonds, Refunding
Senior Lien Series 2025B
5
.000
01/01/50
9,581,823
12,190,000
(a)
Chicago, Illinois, Wastewater Transmission Revenue Bonds,
Second Lien Project, Series 2023A - AGM Insured, (UB)
5
.250
01/01/53
12,664,905
2,000,000
Chicago, Illinois, Wastewater Transmission Revenue Bonds,
Second Lien Project, Series 2023A - AGM Insured
5
.250
01/01/58
2,072,647
7,240,000
(a)
Chicago, Illinois, Water Revenue Bonds, Second Lien Series
2023A - AGM Insured, (UB)
5
.250
11/01/53
7,481,138
6,030,000
Chicago, Illinois, Water Revenue Bonds, Second Lien Series
2023A - AGM Insured
5
.500
11/01/62
6,363,017
4,500,000
Cook County Community College District 508, Illinois, General
Obligation Bonds, Chicago City Colleges, Series 2017
5
.000
12/01/47
4,526,608
3,500,000
Evanston, Cook County, Illinois, General Obligation Bonds,
Corporate Purpose Series 2018A
4
.000
12/01/43
3,430,528
2,750,000
Illinois Educational Facilities Authority, Revenue Bonds, Field
Museum of Natural History, Series 2002.RMKT
3
.900
11/01/36
2,810,658
5,265,000
Illinois Educational Facilities Authority, Revenue Bonds, Field
Museum of Natural History, Series 2002.RMKT
5
.500
11/01/36
5,278,830
3,215,000
Illinois Finance Authority, Health Services Facility Lease
Revenue Bonds, Provident Group - UIC Surgery Center, LLC -
University of Illinois Health Services Facility Project, Series 2020
4
.000
10/01/50
2,759,447
25,015,000
(d)
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C, (Pre-refunded 2/15/27)
4
.000
02/15/41
25,440,182
75,000
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C
4
.000
02/15/41
74,344
790,000
(d)
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C, (Pre-refunded 2/15/27)
4
.000
02/15/41
803,428
1,440,000
(d)
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C, (Pre-refunded 2/15/27)
5
.000
02/15/41
1,479,130
1,560,000
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C
5
.000
02/15/41
1,581,047
3,500,000
Illinois Finance Authority, Revenue Bonds, Ascension Health/
fkaPresence Health Network, Series 2016C
5
.000
02/15/32
3,584,187
55,000
(d)
Illinois Finance Authority, Revenue Bonds, Ascension Health/
fkaPresence Health Network, Series 2016C, (Pre-refunded
2/15/27)
4
.000
02/15/41
55,935
13
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
1,200,000
(d)
Illinois Finance Authority, Revenue Bonds, Ascension Health/
fkaPresence Health Network, Series 2016C, (Pre-refunded
2/15/27)
4
.000
%
02/15/41
$
1,220,396
2,500,000
Illinois Finance Authority, Revenue Bonds, Bradley University,
Refunding Series 2021A
4
.000
08/01/51
2,019,001
1,000,000
(c)
Illinois Finance Authority, Revenue Bonds, DePaul College Prep
Foundation, Series 2023A
5
.625
08/01/53
1,022,461
8,665,000
Illinois Finance Authority, Revenue Bonds, Mercy Health
Corporation, Series 2016
5
.000
12/01/40
8,740,430
7,500,000
(d)
Illinois Finance Authority, Revenue Bonds, Mercy Health
Corporation, Series 2016, (Pre-refunded 6/01/26)
5
.000
12/01/46
7,565,288
10,945,000
Illinois Finance Authority, Revenue Bonds, Northshore -
Edward-Elmhurst Health Credit Group, Series 2022A
4
.000
08/15/42
10,474,341
5,285,000
Illinois Finance Authority, Revenue Bonds, Northshore -
Edward-Elmhurst Health Credit Group, Series 2022A
5
.000
08/15/51
5,329,654
22,590,000
Illinois Finance Authority, Revenue Bonds, OSF Healthcare
System, Series 2015A
5
.000
11/15/45
22,589,162
5,410,000
Illinois FInance Authority, Revenue Bonds, Southern Illinois
Healthcare Enterprises, Inc., Series 2017A
5
.000
03/01/47
5,430,047
14,200,000
Illinois Finance Authority, Revenue Bonds, The Carle
Foundation, Fixed Period Series 2021A
4
.000
08/15/41
14,018,010
11,860,000
(a)
Illinois Housing Development Authority, Revenue Bonds, Social
Series 2024I, (UB)
4
.625
04/01/50
11,748,505
5,000,000
Illinois State, General Obligation Bonds, December Series
2017A
5
.000
12/01/34
5,165,739
2,000,000
Illinois State, General Obligation Bonds, December Series
2017A
5
.000
12/01/35
2,061,470
5,420,000
Illinois State, General Obligation Bonds, December Series
2017A
5
.000
12/01/39
5,534,527
1,750,000
Illinois State, General Obligation Bonds, January Series 2016
5
.000
01/01/32
1,753,074
3,565,000
Illinois State, General Obligation Bonds, June Series 2016
5
.000
06/01/26
3,593,854
4,170,000
Illinois State, General Obligation Bonds, June Series 2022A
5
.500
03/01/47
4,379,303
17,000,000
Illinois State, General Obligation Bonds, May Series 2018A
6
.000
05/01/26
17,143,757
4,485,000
Illinois State, General Obligation Bonds, May Series 2018A
6
.000
05/01/27
4,675,248
1,115,000
Illinois State, General Obligation Bonds, May Series 2020
5
.500
05/01/30
1,199,610
5,305,000
Illinois State, General Obligation Bonds, May Series 2020
5
.500
05/01/39
5,704,806
2,360,000
Illinois State, General Obligation Bonds, May Series 2020
5
.750
05/01/45
2,495,716
4,825,000
Illinois State, General Obligation Bonds, May Series 2023B
5
.500
05/01/47
5,070,537
9,710,000
Illinois State, General Obligation Bonds, October Series 2016
5
.000
02/01/27
9,946,639
5,000,000
Illinois State, General Obligation Bonds, October Series 2022C
5
.500
10/01/41
5,467,690
29,430,000
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Lien Series 2015A
5
.000
01/01/40
29,465,919
10,000,000
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Lien Series 2019A
5
.000
01/01/44
10,310,232
12,010,000
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Lien Series 2020A
5
.000
01/01/45
12,530,702
9,640,000
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Lien Series 2021A
4
.000
01/01/42
9,577,486
10,455,000
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Lien Series 2021A
5
.000
01/01/46
10,918,254
5,410,000
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Series 2023A
5
.250
01/01/43
5,927,724
2,710,000
Illinois, General Obligation Bonds, Illinois FIRST Program,
Series 2001 - FGIC Insured
6
.000
11/01/26
2,763,203
1,175,000
Macon and DeWitt Counties Community Unit School District 2
Maroa-Forsyth, Illinois, General Obligation Bonds, Series 2021
- AGM Insured
4
.000
12/01/41
1,189,299
5,080,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Refunding Series 2020A
5
.000
06/15/50
5,075,194
8,800,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Series 2015A
5
.500
06/15/53
8,801,967
4,750,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Series 2017A
5
.000
06/15/57
4,643,654
Portfolio of Investments January 31, 2026
(continued)
NEA
14
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
33,000,000
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Capital
Appreciation Refunding Series 2010B-1 - AGM Insured
0
.000
%
06/15/45
$
13,646,599
5,355,000
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Capital
Appreciation Refunding Series 2010B-1 - AGM Insured
0
.000
06/15/46
2,075,503
195,000
(d)
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Series 2002A,
(ETM)
0
.000
06/15/30
173,040
3,505,000
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Series 2002A
0
.000
06/15/30
3,068,806
28,000,000
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Series 2002A -
AGM Insured
0
.000
12/15/35
20,021,957
3,280,000
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Series 2002A -
NPFG Insured
0
.000
06/15/37
2,159,291
11,715,000
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Expansion Project, Series 2002A -
NPFG Insured
0
.000
12/15/38
7,182,920
1,525,000
(d)
Metropolitan Pier and Exposition Authority, Illinois, Revenue
Bonds, McCormick Place Hospitality Facility, Series 1996A,
(ETM)
7
.000
07/01/26
1,552,804
2,300,000
Regional Transportation Authority, Cook, DuPage, Kane, Lake,
McHenry and Will Counties, Illinois, General Obligation Bonds,
Series 2000A - NPFG Insured
6
.500
07/01/30
2,550,504
2,855,000
Sangamon County School District 186 Springfield, Illinois,
General Obligation Bonds, Alternate Revenue Source Series
2023 - AGM Insured
5
.500
06/01/58
3,034,306
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
2,465,884
TOTAL ILLINOIS
476,364,235
INDIANA - 2.6% (1.5% of Total Investments)
6,000,000
Indiana Finance Authority, Educational Facilities Revenue
Bonds, Valparaiso University Project, Series 2014
5
.000
10/01/44
5,458,154
7,000,000
Indiana Finance Authority, Hospital Revenue Bonds, Indiana
Unversity Health Obligation Group, Fixed Rate Series 2019A
4
.000
12/01/49
6,333,648
1,875,000
Indiana Finance Authority, Hospital Revenue Bonds, Indiana
Unversity Health Obligation Group, Refunding 2015A
4
.000
12/01/40
1,854,024
13,415,000
Indiana Finance Authority, Hospital Revenue Bonds, Reid
Health Series 2022 - AGM Insured
5
.000
01/01/52
13,537,038
11,000,000
Indiana Finance Authority, Wastewater Utility Revenue Bonds,
CWA Authority Project, First Lien Green Series 2016A
5
.000
10/01/46
11,050,703
12,820,000
Indiana Finance Authority, Wastewater Utility Revenue Bonds,
CWA Authority Project, First Lien Green Series 2022B
5
.250
10/01/52
13,246,796
5,130,000
Indiana Finance Authority, Water Utility Revenue Bonds,
Citizens Energy Group Project, First Lien Series 2016A
5
.000
10/01/46
5,160,676
8,000,000
(a)
Indiana Housing and Community Development Authority,
Single Family Mortgage Revenue Bonds, Social Series 2024D-
1, (UB)
4
.750
07/01/54
7,965,215
1,000,000
Indianapolis Local Public Improvement Bond Bank, Indiana,
Revenue Bonds, Convention Center Hotel Senior Series 2023E
6
.000
03/01/53
1,040,568
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
3,533,583
8,040,000
Indianapolis Local Public Improvement Bond Bank, Indiana,
Revenue Bonds, Stormwater Project, Green Series 2022C
5
.000
01/01/52
8,313,300
9,560,000
Indianapolis Local Public Improvement Bond Bank, Indiana,
Series 1999E - AMBAC Insured
0
.000
02/01/26
9,560,000
1,000,000
Northern Indiana Commuter Transportation District, Indiana,
Limited Obligation Revenue Bonds, Series 2024
5
.250
01/01/49
1,055,423
15
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
1,580,000
Zionsville Community Schools Building Corporation, Boone
County, Indiana, First Mortgage Bonds, Series 2005Z - AGM
Insured
0
.000
%
01/15/28
$
1,493,505
TOTAL INDIANA
89,602,633
IOWA - 1.1% (0.6% of Total Investments)
6,775,000
Iowa Finance Authority Senior Living Facilities Revenue Bonds,
Sunrise Retirement Community Project, Refunding Series 2021
5
.000
09/01/51
5,098,775
8,250,000
(d)
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
9,591,993
7,000,000
(b),(d)
Iowa Finance Authority, Iowa, Midwestern Disaster Area
Revenue Bonds, Iowa Fertilizer Company Project, Refunding
Series 2022, (Pre-refunded 12/01/32), (Mandatory Put
12/01/42)
5
.000
12/01/50
8,138,660
3,085,000
Iowa Finance Authority, Senior Housing Revenue Bonds,
Northcrest Inc. Project, Series 2018A
5
.000
03/01/48
2,923,926
4,700,000
(d)
Xenia Rural Water District, Iowa, Water Revenue Bonds,
Refunding Capital Loan Note Series 2016, (Pre-refunded
12/01/26)
5
.000
12/01/36
4,806,277
5,990,000
(d)
Xenia Rural Water District, Iowa, Water Revenue Bonds,
Refunding Capital Loan Note Series 2016, (Pre-refunded
12/01/26)
5
.000
12/01/41
6,125,447
TOTAL IOWA
36,685,078
KANSAS - 0.7% (0.4% of Total Investments)
5,000,000
Ellis County Unified School District 489 Hays, Kansas, General
Obligation Bonds, Refunding & Improvement Series 2022B -
AGM Insured
5
.000
09/01/42
5,288,536
3,050,000
Ellis County Unified School District 489 Hays, Kansas, General
Obligation Bonds, Refunding & Improvement Series 2022B -
AGM Insured
5
.000
09/01/47
3,133,415
3,700,000
Kansas Municipal Energy Agency, Power Project Revenue
Bonds, Dogwood Project, Series 2018A - BAM Insured
5
.000
04/01/38
3,711,460
6,000,000
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence
Memorial Hospital, Series 2018A
5
.000
07/01/43
6,065,179
6,465,000
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence
Memorial Hospital, Series 2018A
5
.000
07/01/48
6,476,850
TOTAL KANSAS
24,675,440
KENTUCKY - 1.1% (0.7% of Total Investments)
6,010,000
Kentucky Economic Development Finance Authority, Health
System Revenue Bonds, Norton Healthcare Inc., Series 2000B -
NPFG Insured
0
.000
10/01/28
5,444,266
1,300,000
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Owensboro Health, Refunding Series 2017A
5
.000
06/01/37
1,310,288
700,000
(a)
Kentucky Housing Corporation, Single Family Mortgage
Revenue Bonds, Series 2024C, (UB)
4
.400
07/01/44
701,351
1,290,000
(a)
Kentucky Housing Corporation, Single Family Mortgage
Revenue Bonds, Series 2024C, (UB)
4
.600
07/01/49
1,286,605
4,855,000
(a)
Kentucky Housing Corporation, Single Family Mortgage
Revenue Bonds, Series 2024C, (UB)
4
.650
01/01/55
4,791,743
5,000,000
Kentucky Public Transportation Infrastructure Authority, Toll
Revenue Bonds, Downtown Crossing Project, Convertible
Capital Appreciation First Tier Series 2013C
6
.750
07/01/43
5,654,736
8,610,000
Kentucky Public Transportation Infrastructure Authority, Toll
Revenue Bonds, Downtown Crossing Project, Convertible
Capital Appreciation First Tier Series 2013C
6
.875
07/01/46
9,680,126
10,000,000
(a),(b)
Public Energy Authority of Kentucky, Gas Supply Revenue
Bonds, Series 2024A-1, (Mandatory Put 7/01/30), (UB)
5
.000
05/01/55
10,597,586
TOTAL KENTUCKY
39,466,701
Portfolio of Investments January 31, 2026
(continued)
NEA
16
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA - 2.0% (1.2% of Total Investments)
$
5,000,000
East Baton Rouge Parish Capital Improvement District,
Louisiana, MOVEBR Sales Tax Revenue Bonds, Series 2019
5
.000
%
08/01/48
$
5,104,562
1,870,000
Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special
Sales Tax Revenue Bonds, Series 2017B - AGM Insured
5
.000
12/01/42
1,904,830
3,900,000
(a)
Louisiana Housing Corporation, Single Family Mortgage
Revenue Bonds, Home Ownership Program, Series 2024A, (UB)
4
.550
12/01/49
3,858,326
1,875,000
(a)
Louisiana Housing Corporation, Single Family Mortgage
Revenue Bonds, Home Ownership Program, Series 2024A, (UB)
4
.650
12/01/54
1,845,007
1,965,000
Louisiana Local Government Environmental Facilities and
Community Development Authority, Louisiana, Revenue
Bonds, East Baton Rouge Sewerage Commission Projects,
Refunding Series 2023
5
.000
02/01/41
2,132,407
3,600,000
(c)
Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,
Young Audiences Charter School, Series 2019A
5
.000
04/01/49
3,097,384
1,695,000
Louisiana Public Facilities Authority, Lease Revenue Bonds,
Provident Group-Flagship Properties LLC - Louisiana State
University Nicolson Gateway Project, Series 2016A
5
.000
07/01/46
1,688,968
9,310,000
Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,
Christus Health, Refunding Series 2019A
5
.000
07/01/43
9,559,753
20,000
(d)
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner
Clinic Foundation Project, Refunding Series 2016, (Pre-
refunded 5/15/26)
4
.000
05/15/35
20,097
2,345,000
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner
Clinic Foundation Project, Refunding Series 2016
4
.000
05/15/36
2,346,402
20,000
(d)
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner
Clinic Foundation Project, Refunding Series 2016, (Pre-
refunded 5/15/26)
5
.000
05/15/47
20,153
1,975,000
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner
Clinic Foundation Project, Series 2015
5
.000
05/15/47
1,975,427
3,615,000
Louisiana Stadium and Exposition District, Revenue Bonds,
Senior Series 2023A
5
.000
07/01/48
3,706,922
13,410,000
Louisiana Stadium and Exposition District, Revenue Bonds,
Senior Series 2023A
5
.250
07/01/53
13,843,154
3,500,000
New Orleans Aviation Board, Louisiana, General Airport
Revenue Bonds, Series 2024C-1
5
.000
01/01/54
3,584,008
10,000,000
New Orleans, Louisiana, General Obligation Bonds, Public
Improvement Series 2024A
5
.000
12/01/53
10,185,162
5,000,000
Saint Tammany Parish Hospital Service District 1, Louisiana,
Hospital Revenue Bonds, St. Tammany Parish Hospital Project,
Refunding Series 2018A
5
.000
07/01/48
5,019,975
TOTAL LOUISIANA
69,892,537
MAINE - 0.7% (0.4% of Total Investments)
6,300,000
Maine Health and Higher Educational Facilities Authority
Revenue Bonds, Eastern Maine Medical Center Obligated
Group Issue, Series 2016A
5
.000
07/01/41
6,172,966
8,675,000
Maine Health and Higher Educational Facilities Authority
Revenue Bonds, MaineHealth Issue, Series 2018A
5
.000
07/01/43
8,839,612
11,150,000
Maine Health and Higher Educational Facilities Authority,
Revenue Bonds, MaineHealth Issue, Series 2020A
4
.000
07/01/50
9,887,822
TOTAL MAINE
24,900,400
MARYLAND - 1.6% (0.9% of Total Investments)
5,905,000
Baltimore, Maryland, Convention Center Hotel Revenue Bonds,
Refunding Series 2017
5
.000
09/01/46
5,798,031
8,610,000
Baltimore, Maryland, Revenue Bonds, Water Projects,
Subordinate Series 2017A
5
.000
07/01/41
8,720,154
2,000,000
Maryland Health and Higher Educational Facilities Authority,
Revenue Bonds, LifeBridge Health Issue, Series 2016
5
.000
07/01/47
2,003,247
4,000,000
Maryland Health and Higher Educational Facilities Authority,
Revenue Bonds, University of Maryland Medical System Issue,
Taxable Series 2017D
4
.000
07/01/48
3,589,713
4,125,000
Maryland Stadium Authority, Lease Revenue Bonds, Built To
Learn, Series 2022A
4
.000
06/01/47
3,824,826
17
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
17,000,000
Maryland Stadium Authority, Revenue Bonds, Baltimore City
Public Schools Construction & Revitalization Program, Series
2018A
5
.000
%
05/01/42
$
17,453,295
3,000,000
Maryland Transportation Authority, Revenue Bonds,
Transportation Facilities Projects, Series 2020
4
.000
07/01/39
3,039,916
3,000,000
Maryland Transportation Authority, Revenue Bonds,
Transportation Facilities Projects, Series 2020
4
.000
07/01/50
2,801,679
4,000,000
Montgomery County, Maryland, Revenue Bonds, Trinity Health
Credit Group, Series 2015
5
.000
12/01/44
4,002,001
1,150,000
Rockville Mayor and Council, Maryland, Economic
Development Revenue Bonds, Ingleside King Farm Project,
Series 2017A-1
5
.000
11/01/37
1,161,796
2,250,000
Rockville Mayor and Council, Maryland, Economic
Development Revenue Bonds, Series 2017B
5
.000
11/01/47
2,075,167
TOTAL MARYLAND
54,469,825
MASSACHUSETTS - 2.9% (1.7% of Total Investments)
4,000,000
Bristol-Plymouth Regional Vocational Technical School District,
Massachusetts, General Obligation Bonds, School Series 2025
4
.000
04/01/49
3,795,397
6,035,000
Bristol-Plymouth Regional Vocational Technical School District,
Massachusetts, General Obligation Bonds, School Series 2025
4
.000
04/01/50
5,698,059
10,000,000
Massachusetts Development Finance Agency, Revenue Bonds,
Boston Children's Hospital Series 2024T
5
.250
03/01/54
10,527,580
930,000
Massachusetts Development Finance Agency, Revenue Bonds,
Boston Medical Center Issue, Green Bonds, Series 2015D
5
.000
07/01/44
921,222
3,890,000
Massachusetts Development Finance Agency, Revenue Bonds,
Boston University, Refunding Series 2023FF
5
.000
10/01/48
4,062,499
3,630,000
Massachusetts Development Finance Agency, Revenue Bonds,
CareGroup Issue, Series 2018J-2
5
.000
07/01/53
3,650,503
1,100,000
Massachusetts Development Finance Agency, Revenue Bonds,
Dana-Farber Cancer Institute Issue, Series 2016N
5
.000
12/01/46
1,104,341
2,070,000
Massachusetts Development Finance Agency, Revenue Bonds,
Emerson College, Series 2015
4
.500
01/01/45
1,905,889
4,100,000
Massachusetts Development Finance Agency, Revenue Bonds,
Partners HealthCare System Issue, Series 2017S-1
4
.000
07/01/36
4,159,509
1,380,000
Massachusetts Development Finance Agency, Revenue Bonds,
Western New England University, Series 2015
5
.000
09/01/40
1,380,126
1,545,000
Massachusetts Development Finance Agency, Revenue Bonds,
Western New England University, Series 2015
5
.000
09/01/45
1,475,984
3,000,000
Massachusetts Development Finance Authority, Revenue
Bonds, WGBH Educational Foundation, Series 2002A - AMBAC
Insured
5
.750
01/01/42
3,561,446
26,750,000
Massachusetts State, General Obligation Bonds, Consolidated
Loan, Series 2015B
4
.000
05/01/45
25,803,200
5,000,000
Massachusetts State, General Obligation Bonds, Consolidated
Loan, Series 2022C
5
.250
10/01/52
5,241,867
14,000,000
Massachusetts State, General Obligation Bonds, Consolidated
Loan, Series 2023A
5
.000
05/01/48
14,634,615
12,000,000
Massachusetts State, Transportation Fund Revenue Bonds, Rail
Enhancement Program, Series 2022B
5
.000
06/01/52
12,384,391
TOTAL MASSACHUSETTS
100,306,628
MICHIGAN - 8.4% (5.1% of Total Investments)
315,000
Advanced Technology Academy, Michigan, Public School
Academy Revenue Bonds, Refunding Series 2019
5
.000
11/01/34
324,135
1,000,000
Conner Creek Academy East, Michigan, Public School Revenue
Bonds, Series 2007
5
.250
11/01/36
868,134
2,000,000
County of Calhoun Hospital Finance Authority, Michigan,
Hospital Revenue Bonds, Oaklawn Hospital, Refunding Series
2016
5
.000
02/15/47
1,858,418
1,925,000
Detroit, Michigan, Senior Lien Sewerage Disposal System
Revenue Bonds, Series 2001B - NPFG Insured
5
.500
07/01/29
2,021,711
15,000
Detroit, Michigan, Water Supply System Revenue Bonds,
Refunding Second Lien Series 2004A - AGM Insured
5
.000
07/01/34
15,020
Portfolio of Investments January 31, 2026
(continued)
NEA
18
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
1,700,000
Downriver Utility Wastewater Authority, Michigan, Sewer
System Revenue Bonds, Series 2018 - AGM Insured
5
.000
%
04/01/43
$
1,737,033
1,100,000
Eastern Michigan University, General Revenue Bonds,
Refunding Series 2017A - BAM Insured
5
.000
03/01/33
1,124,796
2,270,000
Eastern Michigan University, General Revenue Bonds,
Refunding Series 2017A - BAM Insured
5
.000
03/01/36
2,313,107
455,000
(d)
Eastern Michigan University, General Revenue Bonds, Series
2018A, (Pre-refunded 3/01/28)
4
.000
03/01/44
470,406
10,710,000
Eastern Michigan University, General Revenue Bonds, Series
2018A - AGM Insured
4
.000
03/01/44
10,108,045
3,000,000
Grand Rapids and Kent County Joint Building Authority,
Michigan, Limited Tax General Obligation Bonds, Devos Place
Project, Series 2001
0
.000
12/01/26
2,936,725
100,000
Grand Rapids and Kent County Joint Building Authority,
Michigan, Limited Tax General Obligation Bonds, Devos Place
Project, Series 2001
0
.000
12/01/27
95,356
4,305,000
Grand Rapids and Kent County Joint Building Authority,
Michigan, Limited Tax General Obligation Bonds, Devos Place
Project, Series 2001
0
.000
12/01/29
3,895,299
1,000,000
(d)
Grand Rapids Public Schools, Kent County, Michigan, General
Obligation Bonds, Refunding School Building & Site Series
2016, (Pre-refunded 5/01/26) - AGM Insured
5
.000
05/01/38
1,006,614
1,250,000
Grand Rapids Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2019 - AGM
Insured
5
.000
11/01/42
1,295,071
1,850,000
Grand Rapids Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2019 - AGM
Insured
5
.000
11/01/43
1,908,382
2,500,000
Grand Rapids, Michigan, Sanitary Sewer System Revenue
Bonds, Series 2018
5
.000
01/01/43
2,553,510
6,055,000
Grand Rapids, Michigan, Sanitary Sewer System Revenue
Bonds, Series 2018
5
.000
01/01/48
6,143,859
4,295,000
Grand Rapids, Michigan, Water Supply System Revenue Bonds,
Series 2020
5
.000
01/01/45
4,444,354
1,720,000
Grand Traverse County Hospital Finance Authority, Michigan,
Revenue Bonds, Munson Healthcare, Series 2019A
5
.000
07/01/36
1,786,824
1,995,000
Grand Traverse County Hospital Finance Authority, Michigan,
Revenue Bonds, Munson Healthcare, Series 2019A
5
.000
07/01/39
2,056,896
27,950,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Senior Lien Series 2016A
5
.000
07/01/46
28,048,513
4,625,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Senior Lien Series 2025C
5
.250
07/01/50
4,930,965
6,910,000
Hudsonville Public Schools, Ottawa and Allegan Counties,
Michigan, General Obligation Bonds, School Building & Site
Series 2020-I
4
.000
05/01/47
6,592,101
1,265,000
Jenison Public Schools, Ottawa County, Michigan, General
Obligation Bonds, Series 2017
5
.000
05/01/30
1,307,669
1,000,000
Kent County, Michigan, General Obligation Bonds, Limited Tax
Capital Improvement Series 2016
5
.000
06/01/31
1,008,462
1,445,000
Kent County, Michigan, General Obligation Bonds, Limited Tax
Capital Improvement Series 2016
5
.000
06/01/34
1,455,495
1,570,000
Kent County, Michigan, General Obligation Bonds, Limited Tax
Capital Improvement Series 2017A
5
.000
06/01/36
1,615,933
1,650,000
Kent County, Michigan, General Obligation Bonds, Limited Tax
Capital Improvement Series 2017A
5
.000
06/01/37
1,695,497
2,375,000
Kentwood Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2023-II - AGM
Insured
5
.000
05/01/49
2,473,152
2,395,000
Lake Superior State University Board of Trustees, Michigan,
General Revenue Bonds, Series 2018 - AGM Insured
5
.000
01/15/38
2,468,853
4,000,000
Lake Superior State University Board of Trustees, Michigan,
General Revenue Bonds, Series 2018 - AGM Insured
5
.000
01/15/43
4,061,934
10,900,000
Lansing Board of Water and Light, Michigan, Utility System
Revenue Bonds, Series 2019A
5
.000
07/01/44
11,248,199
19
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
8,170,000
Lansing Board of Water and Light, Michigan, Utility System
Revenue Bonds, Series 2019A
5
.000
%
07/01/48
$
8,339,963
11,835,000
Lansing Board of Water and Light, Michigan, Utility System
Revenue Bonds, Series 2021A
5
.000
07/01/51
12,160,194
1,325,000
Lansing School District, Ingham County, Michigan, General
Obligation Bonds, School Building and Site Series 2019II
5
.000
05/01/40
1,388,275
2,085,000
Lansing School District, Ingham County, Michigan, General
Obligation Bonds, Series 2016I
5
.000
05/01/38
2,090,264
2,200,000
Lansing School District, Ingham County, Michigan, General
Obligation Bonds, Series 2016I
5
.000
05/01/41
2,203,205
2,200,000
Lansing Township Downtown Development Authority, Ingham
County, Michigan, Tax Increment Bonds, Series 2013A
5
.950
02/01/42
2,203,369
500,000
Marquettte, Michigan, Electric Utility System Revenue Bonds,
Refunding Series 2016A
5
.000
07/01/33
504,187
1,500,000
Michigan Finance Authority, Distributable State Aid Revenue
Bonds, Charter County of Wayne Criminal Justice Center
Project, Senior Lien Series 2018
5
.000
11/01/43
1,536,492
17,500,000
Michigan Finance Authority, Distributable State Aid Revenue
Bonds, Charter County of Wayne, Second Lien Refunding
Series 2020
4
.000
11/01/50
15,913,495
10,005,000
Michigan Finance Authority, Distributable State Aid Revenue
Bonds, Charter County of Wayne, Second Lien Refunding
Series 2020
4
.000
11/01/55
8,970,352
3,500,000
Michigan Finance Authority, Higher Education Limited
Obligation Revenue Bonds, Kalamazoo College Project,
Refunding Series 2018
5
.000
12/01/43
3,576,128
175,000
(d)
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2016MI, (Pre-refunded
6/01/26)
5
.000
12/01/45
176,407
265,000
(d)
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2016MI, (Pre-refunded
6/01/26)
5
.000
12/01/45
267,130
5,075,000
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2016MI
5
.000
12/01/45
5,083,158
9,000,000
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2016MI-2
4
.000
03/01/51
7,968,910
10,000,000
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2017A-MI
4
.000
12/01/36
10,061,489
1,900,000
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2017MI
5
.000
12/01/30
1,961,614
2,000,000
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2019A-MI
4
.000
12/01/49
1,798,967
11,730,000
Michigan Finance Authority, Tobacco Settlement Asset- Backed
Bonds, 2006 Sold Tobacco Receipts Senior Current Interest
Series 2020A-2
5
.000
06/01/40
12,157,244
9,060,000
(d)
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
9,176,599
1,270,000
Michigan Hospital Finance Authority, Revenue Bonds,
Ascension Health Senior Credit Group, Refunding & Project
Series 2010F-6
4
.000
11/15/47
1,156,133
10,000,000
(a)
Michigan Housing Development Authority, Single Family
Mortgage Revenue Bonds, Social Series 2025A, (UB)
4
.850
12/01/45
10,138,996
170,000
Michigan Public Educational Facilities Authority, Charter School
Revenue Bonds, American Montessori Academy, Series 2007
6
.500
12/01/37
170,116
8,300,000
Michigan State University, General Revenue Bonds, Refunding
Series 2019C
4
.000
02/15/44
8,189,393
3,000,000
Michigan State University, General Revenue Bonds, Taxable
Series 2019A
5
.000
02/15/48
3,080,910
1,950,000
Michigan State, Comprehensive Transportation Revenue
Bonds, Refunding Series 2015
5
.000
11/15/29
1,954,153
3,000,000
Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan
Program Series 2020B
4
.000
11/15/45
2,867,712
Portfolio of Investments January 31, 2026
(continued)
NEA
20
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
1,350,000
Muskegon County, Michigan, General Obligation Wastewater
Bonds, Management System 1, Refunding Series 2015
5
.000
%
11/01/33
$
1,354,408
1,730,000
Muskegon County, Michigan, General Obligation Wastewater
Bonds, Management System 1, Refunding Series 2015
5
.000
11/01/36
1,735,648
400,000
Northern Michigan University, General Revenue Bonds, Series
2018A
5
.000
12/01/33
421,704
650,000
Northern Michigan University, General Revenue Bonds, Series
2018A
5
.000
12/01/35
681,894
665,000
Novi Community School District, Oakland County, Michigan,
General Obligation Bonds, School Building & Site Series
2022-II
4
.000
05/01/47
635,297
1,510,000
Royal Oak, Oakland County, Michigan, General Obligation
Bonds, Taxable Limited Tax Series 2018
5
.000
04/01/43
1,546,361
810,000
Saginaw Valley State University, Michigan, General Revenue
Bonds, Refunding Series 2016A
5
.000
07/01/35
816,366
5,240,000
Troy School District, Oakland County, Michigan, General
Obligation Bonds, School Building & Site Series 2023
5
.000
05/01/52
5,385,148
1,065,000
(d)
University of Michigan, Michigan, General Revenue Bonds,
Series 2017A, (Pre-refunded 4/01/27)
5
.000
04/01/36
1,098,073
2,000,000
(d)
University of Michigan, Michigan, General Revenue Bonds,
Series 2017A, (Pre-refunded 4/01/27)
5
.000
04/01/42
2,062,108
12,200,000
(d)
University of Michigan, Michigan, General Revenue Bonds,
Series 2017A, (Pre-refunded 4/01/27)
5
.000
04/01/47
12,578,861
1,000,000
Wayne County Airport Authority, Michigan, Revenue Bonds,
Detroit Metropolitan Wayne County Airport, Senior Series
2017A
5
.000
12/01/42
1,021,883
5,000,000
Wayne State University, Michigan, General Revenue Bonds,
Series 2018A
5
.000
11/15/43
5,145,052
2,590,000
West Bloomfield School District, Oakland County, Michigan,
General Obligation Bonds, School Building & Site Series 2017
- AGM Insured
5
.000
05/01/36
2,659,955
3,335,000
Western Michigan University, General Revenue Bonds,
Refunding Series 2019A
5
.000
11/15/44
3,432,938
2,700,000
Wyandotte, Michigan, Electric Revenue Bonds, Refunding
Series 2015A - BAM Insured
5
.000
10/01/44
2,703,249
TOTAL MICHIGAN
294,244,268
MINNESOTA - 5.1% (3.1% of Total Investments)
285,000
Baytown Township, Minnesota Charter School Lease Revenue
Bonds, Saint Croix Preparatory Academy, Refunding Series
2016A
4
.000
08/01/36
270,157
2,625,000
Bethel, Minnesota, Charter School Lease Revenue Bonds,
Spectrum High School Project, Series 2024
5
.000
07/01/59
2,427,373
3,565,000
Brooklyn Center, Minnesota, Charter School Lease Revenue
Bonds, Tesfa International dba Twin Lakes STEM Academy
Project, Series 2021A
5
.250
06/15/56
2,384,067
730,000
Brooklyn Center, Minnesota, Charter School Lease Revenue
Bonds, Tesfa International dba Twin Lakes STEM Academy
Project, Taxable Series 2021B
6
.000
06/15/31
700,511
350,000
Chatfield, Minnesota, Healthcare and Housing Facilities
Revenue Bonds, Chosen Valley Care Center Project, Refunding
Series 2019
4
.000
09/01/39
313,465
1,700,000
City of Ham Lake, Minnesota, Charter School Lease Revenue
Bonds, DaVinci Academy Project,Series 2016A
5
.000
07/01/36
1,668,725
4,005,000
City of Milaca, Minnesota Refunding Revenue Bonds,
Grandview Christian Home Project, Series 2016
5
.000
10/01/41
4,010,424
1,000,000
(c)
Dakota County Community Development Agency, Minnesota,
Senior Housing Revenue Bonds, Walker Highview Hills LLC
Project, Refunding Series 2016A
5
.000
08/01/46
939,351
590,000
Deephaven, Minnesota, Charter School Lease Revenue Bonds,
Eagle Ridge Academy Project, Series 2015A
5
.250
07/01/37
590,469
3,600,000
(c)
Deephaven, Minnesota, Charter School Lease Revenue Bonds,
Seven Hills Preparatory Academy Project, Series 2024A
6
.125
06/15/61
3,309,796
21
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
2,000,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Essentia Health Obligated
Group, Series 2018A
4
.250
%
02/15/43
$
1,966,876
1,300,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Essentia Health Obligated
Group, Series 2018A
5
.000
02/15/43
1,319,833
4,050,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Essentia Health Obligated
Group, Series 2018A
5
.000
02/15/48
4,064,915
6,650,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Essentia Health Obligated
Group, Series 2018A
5
.000
02/15/53
6,626,442
3,000,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Essentia Health Obligated
Group, Series 2018A
5
.250
02/15/53
3,012,905
7,240,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Essentia Health Obligated
Group, Series 2018A
5
.250
02/15/58
7,268,339
3,600,000
Duluth Economic Development Authority, Minnesota, Health
Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth
Obligated Group, Series 2022B
5
.250
06/15/47
3,738,172
1,980,000
GFW Independent School District No. 2365, Sibley, Renville,
McLeod and Nicollet Counties, Minnesota, General Obligation
School Building Bonds, Series 2023A
5
.000
02/01/42
2,114,198
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
1,104,143
535,000
Independence, Minnesota, Charter School Lease Revenue
Bonds, Paladin Career & Technical High School Project, Series
2021A
4
.000
06/01/41
443,732
9,840,000
Independent School District 621, Mounds View, Minnesota,
General Obligation Bonds, School Building Series 2018A
4
.000
02/01/41
9,889,559
2,800,000
Itasca County Independent School District 318, Minnesota,
General Obligation Bonds, Series 2018A
4
.000
02/01/37
2,823,459
1,000,000
Maple River Independent School District 2135, Minnesota,
General Obligation Bonds, School Building Series 2020A
4
.000
02/01/50
944,426
405,000
Minneapolis, Minnesota, Charter School Lease Revenue Bonds,
Cyber Village Academy Project, Series 2022A
5
.500
06/01/57
357,692
2,250,000
Minneapolis, Minnesota, Health Care System Revenue Bonds,
Allina Health System, Series 2021
4
.000
11/15/40
2,226,139
2,530,000
Minneapolis, Minnesota, Health Care System Revenue Bonds,
Fairview Health Services, Series 2018A
4
.000
11/15/48
2,140,667
1,000,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Refunding Subordinate
Lien Series 2019A
5
.000
01/01/33
1,074,821
2,245,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Refunding Subordinate
Lien Series 2019A
5
.000
01/01/44
2,311,627
3,500,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Refunding Subordinate
Lien Series 2019A
5
.000
01/01/49
3,545,567
1,630,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Senior Lien Series 2016C
5
.000
01/01/37
1,657,953
7,000,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Senior Lien Series 2016C
5
.000
01/01/46
7,045,206
2,000,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Subordinate Lien Series
2022A
4
.125
01/01/47
1,905,350
2,000,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Subordinate Lien Series
2022A
4
.250
01/01/52
1,884,940
12,345,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Subordinate Lien Series
2022A
5
.000
01/01/52
12,569,897
Portfolio of Investments January 31, 2026
(continued)
NEA
22
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
7,335,000
Minneapolis-St. Paul Metropolitan Airports Commission,
Minnesota, Airport Revenue Bonds, Subordinate Series 2024A
5
.000
%
01/01/52
$
7,545,446
5,000,000
Minnesota Agricultural and Economic Development Board,
Health Care Facilities Revenue Bonds, Essentia Health
Obligated Group, Series 2024A
5
.250
01/01/54
5,152,191
610,000
Minnesota Higher Education Facilities Authority, Revenue
Bonds, University of Saint Thomas, Series 2022B
4
.125
10/01/42
611,083
1,000,000
Minnesota Higher Education Facilities Authority, Revenue
Bonds, University of Saint Thomas, Series 2022B
4
.125
10/01/42
1,001,776
2,140,000
Minnesota Higher Education Facilities Authority, Revenue
Bonds, University of Saint Thomas, Series 2022B
5
.000
10/01/47
2,180,332
1,000,000
Minnesota Housing Finance Agency, Housing Infrastructure
State Appropriation Bonds, Series 2020D
4
.000
08/01/42
1,007,325
3,165,000
Minnesota Housing Finance Agency, Housing Infrastructure
State Appropriation Bonds, Series 2021C
4
.000
08/01/43
3,144,834
3,805,000
Minnesota Housing Finance Agency, Housing Infrastructure
State Appropriation Bonds, Series 2022C
5
.000
08/01/41
4,101,889
2,000,000
Rochester, Minnesota, Electric Utility Revenue Bonds,
Refunding Series 2017A
5
.000
12/01/42
2,029,527
10,325,000
Saint Cloud, Minnesota, Health Care Revenue Bonds,
CentraCare Health System, Series 2019
5
.000
05/01/48
10,452,309
6,000,000
Saint Cloud, Minnesota, Health Care Revenue Bonds,
CentraCare Health System, Series 2019
4
.000
05/01/49
5,350,234
4,825,000
(c)
Saint Paul Housing & Redevelopment Authority, Minnesota,
Charter School Lease Revenue Bonds, Community School of
Excellence, Series 2023
5
.500
03/01/53
4,774,918
2,000,000
Saint Paul Housing & Redevelopment Authority, Minnesota,
Charter School Lease Revenue Bonds, Hmong College Prep
Academy Project, Refunding Series 2020A
5
.000
09/01/55
1,827,490
2,000,000
Saint Paul Housing & Redevelopment Authority, Minnesota,
Charter School Lease Revenue Bonds, Hmong College Prep
Academy Project, Series 2016A
5
.750
09/01/46
2,004,146
450,000
Saint Paul Housing & Redevelopment Authority, Minnesota,
Charter School Lease Revenue Bonds, Hope Community
Academy Project, Series 2020A
3
.875
12/01/30
413,409
1,970,000
Saint Paul Housing & Redevelopment Authority, Minnesota,
Charter School Lease Revenue Bonds, Nova Classical
Academy, Series 2016A
4
.125
09/01/47
1,673,371
595,000
Saint Paul Housing and Redevelopment Authority, Minnesota,
Health Care Revenue Bonds, Fairview Health Services, Series
2017A
4
.000
11/15/35
598,686
1,470,000
Saint Paul Housing and Redevelopment Authority, Minnesota,
Health Care Revenue Bonds, Fairview Health Services, Series
2017A
4
.000
11/15/43
1,364,846
3,315,000
Saint Paul Housing and Redevelopment Authority, Minnesota,
Health Care Revenue Bonds, Fairview Health Services, Series
2017A
5
.000
11/15/47
3,273,340
800,000
Saint Paul Port Authority, Minnesota, District Energy Revenue
Bonds, Series 2023-3
4
.750
10/01/43
817,792
150,000
Saint Paul, Minnesota, Housing and Redevelopment Authority,
Minnesota Charter School Lease Revenue Bonds, Series 2022A
6
.500
06/01/29
152,083
1,070,000
Saint Paul, Minnesota, Housing and Redevelopment Authority,
Minnesota Charter School Lease Revenue Bonds, Series 2022A
6
.375
06/01/42
1,078,974
3,055,000
Saint Paul, Minnesota, Housing and Redevelopment Authority,
Minnesota Charter School Lease Revenue Bonds, Series 2022A
6
.500
06/01/57
2,989,033
850,000
Sartell, Minnesota, Health Care Facilities Revenue Bonds,
Country Manor Campus LLC Project, Refunding Series 2017
5
.000
09/01/42
809,757
4,270,000
St. Paul Housing and Redevelopment Authority, Minnesota,
Charter School Revenue Bonds, Higher Ground Academy
Charter School, Series 2018
5
.000
12/01/43
4,213,462
3,900,000
University of Minnesota, General Obligation Bonds, Series
2016A
5
.000
04/01/41
3,906,380
300,000
Wayzata, Minnesota Senior Housing Revenue Bonds,
Folkestone Senior Living Community, Refunding Series 2019
5
.000
08/01/32
302,011
23
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
150,000
Wayzata, Minnesota Senior Housing Revenue Bonds,
Folkestone Senior Living Community, Refunding Series 2019
5
.000
%
08/01/33
$
150,945
250,000
Wayzata, Minnesota Senior Housing Revenue Bonds,
Folkestone Senior Living Community, Refunding Series 2019
5
.000
08/01/35
251,461
600,000
Wayzata, Minnesota Senior Housing Revenue Bonds,
Folkestone Senior Living Community, Refunding Series 2019
4
.000
08/01/39
597,310
2,000,000
Wayzata, Minnesota Senior Housing Revenue Bonds,
Folkestone Senior Living Community, Refunding Series 2019
5
.000
08/01/49
1,974,291
3,000,000
Western Minnesota Municipal Power Agency, Minnesota,
Power Supply Revenue Bonds, Series 2018A
5
.000
01/01/49
3,036,555
730,000
Winona Port Authority, Minnesota, Charter School Lease
Revenue Bonds, Bluffview Montessori School Project,
Refunding Series 2016
4
.750
06/01/46
605,322
TOTAL MINNESOTA
178,043,724
MISSISSIPPI - 0.1% (0.1% of Total Investments)
4,500,000
Medical Center Educational Building Corporation, Mississippi,
Revenue Bonds, University of Mississippi Medical Center New
Facilities & Refinancing Project, Series 2017A
4
.000
06/01/47
4,172,559
TOTAL MISSISSIPPI
4,172,559
MISSOURI - 5.4% (3.2% of Total Investments)
3,700,000
Hannibal Industrial Development Authority, Missouri, Health
Facilities Revenue Bonds, Hannibal Regional Healthcare
System, Series 2017
5
.000
10/01/47
3,429,418
2,000,000
Hazelwood School District, St. Louis County, Missouri, General
Obligation Bonds, Refunding and Improvement Series 2023A
- BAM Insured
5
.000
03/01/42
2,132,067
6,940,000
(a)
Jackson County, Missouri, Special Obligation Bonds, Series
2023A, (UB)
5
.250
12/01/47
7,319,489
8,150,000
Kansas City Municipal Assistance Corporation, Missouri,
Leasehold Revenue Bonds, Improvement Series 2004B-1 -
AMBAC Insured
0
.000
04/15/27
7,854,129
5,000,000
Kansas City Municipal Assistance Corporation, Missouri,
Leasehold Revenue Bonds, Improvement Series 2004B-1 -
AMBAC Insured
0
.000
04/15/31
4,220,422
2,475,000
Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,
Improvement Series 2018A
4
.000
01/01/38
2,502,743
4,470,000
Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,
Improvement Series 2018A
4
.000
01/01/42
4,475,963
1,475,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2021A
5
.000
04/01/40
1,595,971
1,750,000
Kansas City, Missouri, Water Revenue Bonds, Series 2023A
4
.000
12/01/47
1,666,431
2,350,000
Maryland Heights, Missouri, Tax Increment and Special District
Revenue Bonds, Westport Plaza Redevelopment Area, Series
2020
4
.125
11/01/38
2,204,186
2,950,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Refunding Improvement Series 2022B
5
.250
05/01/52
3,086,128
2,695,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Series 2019B
5
.000
05/01/44
2,779,658
2,160,000
Missouri Development Finance Board, Infrastructure Facilities
Revenue Bonds, City of  Independence Annual Appropriation
Electric System, Refunding Series 2022 - AGM Insured
5
.000
06/01/34
2,423,242
1,000,000
(c)
Missouri Development Finance Board, Tax Increment and
Special District Revenue Bonds, Lakeport Village Project, Series
2025A
6
.750
06/15/55
975,265
3,000,000
Missouri Environmental Improvement and Energy Resources
Authority, Revenue Bonds, Union Electric Company Project,
Refunding Series 1998A
2
.900
09/01/33
2,839,554
1,350,000
Missouri Health and Education Facilities Authority, Health
Facilities Revenue Bonds, Saint Luke's Health System, Inc.,
Series 2016
5
.000
11/15/35
1,357,879
1,400,000
Missouri Health and Educational Facilities Authority,
Educational Facilities Revenue Bonds, Kansas City University of
Medicine and Biosciences, Series 2017A
5
.000
06/01/42
1,421,816
Portfolio of Investments January 31, 2026
(continued)
NEA
24
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
1,830,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, BJC Health System, Series 2021A
4
.000
%
07/01/40
$
1,854,150
14,000,000
(a)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, BJC Health System, Series 2025A,
(UB)
4
.000
04/01/45
13,194,010
1,500,000
(b)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, BJC Health System, Variable Rate
Demand Obligation Series 2013C, (Mandatory Put 1/01/46)
4
.000
01/01/50
1,378,759
4,165,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Fixed Series 2019A
4
.000
11/15/44
3,899,522
4,220,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Fixed Series 2019A
4
.000
11/15/49
3,797,473
17,300,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Series 2013A
5
.000
11/15/48
17,303,126
1,400,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2014F
5
.000
11/15/45
1,400,541
1,050,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2017C
4
.000
11/15/36
1,056,332
2,980,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2017C
4
.000
11/15/37
2,993,613
2,620,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2017C
5
.000
11/15/42
2,664,001
2,500,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2017C
5
.000
11/15/47
2,526,061
28,290,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2020
4
.000
06/01/53
24,310,386
1,500,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mosaic Health System, Series 2019A
4
.000
02/15/44
1,401,881
2,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mosaic Health System, Series 2019A
4
.000
02/15/49
1,752,290
8,725,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mosaic Health System, Series 2019A
4
.000
02/15/54
7,494,817
3,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, SSM Health Care, Series 2022A
4
.000
06/01/52
2,658,245
10,000,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Children's Mercy Hospital, Series 2017A
4
.000
05/15/42
9,749,202
1,150,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2016A
5
.000
02/01/46
1,148,851
700,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2016B
5
.000
02/01/34
700,783
1,950,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2019A
5
.000
02/01/42
1,969,555
1,500,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2019C
5
.000
02/01/42
1,535,286
1,000,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2019C
4
.000
02/01/48
850,216
1,000,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2024A
5
.250
02/01/54
1,002,999
5,000,000
Saint Charles County Francis Howell School District, Missouri,
General Obligation Bonds, Series 2022
5
.000
03/01/41
5,352,022
2,000,000
Saint Charles County Francis Howell School District, Missouri,
General Obligation Bonds, Series 2022
5
.000
03/01/42
2,127,479
1,675,000
Saint Charles County Public Water Supply District 2, Missouri,
Certificates of Participation, Refudning Series 2016C
4
.000
12/01/31
1,676,922
2,535,000
Saint Charles County Public Water Supply District 2, Missouri,
Certificates of Participation, Refudning Series 2016C
5
.000
12/01/32
2,539,451
3,500,000
Saint Louis County Industrial Development Authority, Missouri,
Health Facilities Revenue Bonds, Ranken-Jordan Project,
Refunding & Improvement Series 2016
5
.000
11/15/41
3,476,624
220,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village of Sunset Hills, Series
2013A
5
.875
09/01/43
220,165
25
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
2,665,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village Saint Louis Obligated
Group, Series 2018A
5
.125
%
09/01/49
$
2,596,763
7,250,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village Saint Louis Obligated
Group, Series 2018A
5
.250
09/01/53
7,095,176
2,300,000
(c)
Taney County Industrial Development Authority, Missouri, Sales
Tax Revenue Improvement Bonds, Big Cedar Infrastructure
Project Series 2023
6
.000
10/01/49
2,291,588
475,000
The Industrial Development Authority of the City of Saint Louis,
Missouri, Development Financing Revenue Bonds, Ballpark
Village Development Project, Series 2017A
3
.875
11/15/29
460,086
TOTAL MISSOURI
186,762,736
MONTANA - 0.6% (0.3% of Total Investments)
2,975,000
Kalispell, Montana, Housing and Healthcare Facilities Revenue
Bonds, Immanuel Lutheran Corporation, Series 2017A
5
.250
05/15/47
2,783,000
4,965,000
Montana Facility Finance Authority, Healthcare Facility Revenue
Bonds, Kalispell Regional Medical Center, Series 2018B
5
.000
07/01/48
4,996,071
3,310,000
Montana Facility Finance Authority, Montana, Health Facilities
Reveue Bonds, Bozeman Deaconess Health Services Obligated
Group, Series 2018
5
.000
06/01/48
3,328,728
1,825,000
Montana Facility Finance Authority, Revenue Bonds, Billings
Clinic Obligated Group, Series 2018A
5
.000
08/15/48
1,832,052
6,130,000
Montana State Board of Regents of Higher Education, General
Revenue Bonds, Series 2022 - AGM Insured
5
.250
11/15/52
6,384,440
TOTAL MONTANA
19,324,291
NEBRASKA - 1.2% (0.7% of Total Investments)
14,165,000
Central Plains Energy Project, Nebraska, Gas Project 3 Revenue
Bonds, Refunding Crossover Series 2017A
5
.000
09/01/42
15,176,482
1,900,000
Douglas County Hospital Authority 3, Nebraska, Health
Facilities Revenue Bonds, Nebraska Methodist Health System,
Refunding Series 2015
5
.000
11/01/45
1,900,598
1,900,000
Douglas County School District 54, Ralston, Nebraska, General
Obligation Bonds, Series 2023
5
.000
12/15/48
1,977,250
2,150,000
Madison County Hospital Authority 1, Nebraska, Hospital
Revenue Bonds, Faith Regional Health Services Project,
Refunding Series 2017A
5
.000
07/01/29
2,198,082
2,000,000
Madison County Hospital Authority 1, Nebraska, Hospital
Revenue Bonds, Faith Regional Health Services Project,
Refunding Series 2017A
5
.000
07/01/30
2,044,124
1,000,000
Madison County Hospital Authority 1, Nebraska, Hospital
Revenue Bonds, Faith Regional Health Services Project, Series
2018
5
.000
07/01/32
1,000,441
820,000
Madison County Hospital Authority 1, Nebraska, Hospital
Revenue Bonds, Faith Regional Health Services Project, Series
2018
5
.000
07/01/33
820,361
2,000,000
Madison County Hospital Authority 1, Nebraska, Hospital
Revenue Bonds, Faith Regional Health Services Project, Series
2018
5
.000
07/01/34
2,000,860
5,110,000
Municipal Energy Agency of Nebraska, Power Supply System
Revenue Bonds, Refunding Series 2016A
5
.000
04/01/38
5,194,801
8,500,000
(a)
Nebraska Investment Finance Authority, Single Family Housing
Revenue Bonds, Social Series 2024C, (UB)
4
.800
09/01/54
8,515,070
TOTAL NEBRASKA
40,828,069
NEVADA - 1.2% (0.7% of Total Investments)
6,480,000
Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe
Regional Healthcare Project, Series 2017A
5
.000
09/01/47
6,399,967
7,525,000
Clark County, Nevada, General Obligation Bonds, Stadium
Improvement, Limited Tax Additionally Secured by Pledged
Revenues, Series 2018A
5
.000
05/01/48
7,659,894
365,000
(c)
Director of the State of Nevada Department of Business and
Industry, Charter School Lease Revenue Bonds, Somerset
Academy, Series 2018A
5
.000
12/15/38
365,043
Portfolio of Investments January 31, 2026
(continued)
NEA
26
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEVADA
(continued)
$
2,090,000
Henderson, Nevada, Limited Obligation Bonds, Local
Improvement District T-18 Inspirada, Refunding Series 2016
4
.000
%
09/01/26
$
2,093,035
1,395,000
Henderson, Nevada, Limited Obligation Bonds, Local
Improvement District T-18 Inspirada, Refunding Series 2016
4
.000
09/01/27
1,395,714
2,405,000
Henderson, Nevada, Limited Obligation Bonds, Local
Improvement District T-18 Inspirada, Refunding Series 2016
4
.000
09/01/29
2,406,561
2,650,000
Henderson, Nevada, Limited Obligation Bonds, Local
Improvement District T-18 Inspirada, Refunding Series 2016
4
.000
09/01/30
2,649,799
18,000,000
Las Vegas Convention and Visitors Authority, Nevada,
Convention Center Expansion Revenue Bonds, Series 2018B
5
.000
07/01/43
18,504,029
TOTAL NEVADA
41,474,042
NEW HAMPSHIRE - 0.2% (0.1% of Total Investments)
1,500,000
New Hampshire Health and Education Facilities Authority,
Revenue Bonds, Concord Hospital, Series 2017
5
.000
10/01/47
1,508,087
1,115,000
New Hampshire Health and Education Facilities Authority,
Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series
2018A
5
.000
08/01/36
1,156,114
2,935,000
New Hampshire Health and Education Facilities Authority,
Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series
2018A
5
.000
08/01/37
3,035,570
TOTAL NEW HAMPSHIRE
5,699,771
NEW JERSEY - 6.9% (4.1% of Total Investments)
6,000,000
New Jersey Economic Development Authority, Revenue
Bonds, Provident Group - Montclair Properties LLC, Montclair
State University Student Housing Project, Refunding Series
2017 - AGM Insured
5
.000
06/01/42
6,082,194
20,890,000
(d)
New Jersey Economic Development Authority, School Facilities
Construction Bonds, Refunding Series 2016BBB, (Pre-refunded
12/15/26)
5
.500
06/15/30
21,492,104
370,000
(d)
New Jersey Economic Development Authority, School Facilities
Construction Bonds, Series 2018EEE, (Pre-refunded 12/15/28)
5
.000
06/15/43
399,570
2,515,000
New Jersey Economic Development Authority, School Facilities
Construction Bonds, Series 2018EEE
5
.000
06/15/43
2,601,633
2,415,000
New Jersey Economic Development Authority, School Facilities
Construction Bonds, Social Series 2021QQQ
4
.000
06/15/50
2,188,908
2,500,000
New Jersey Health Care Facilities Financing Authority, Revenue
Bonds, Hackensack Meridian Health Obligated Group,
Refunding Series 2017A
5
.000
07/01/37
2,571,105
26,320,000
New Jersey Health Care Facilities Financing Authority, Revenue
Bonds, RWJ Barnabas Health Obligated Group, Refunding
Series 2016A
5
.000
07/01/43
26,488,788
12,775,000
New Jersey Health Care Facilities Financing Authority, Revenue
Bonds, RWJ Barnabas Health Obligated Group, Series 2021A
4
.000
07/01/51
11,642,653
3,050,000
New Jersey Transportation Trust Fund Authority, Federal
Highway Reimbursement Revenue Notes, Series 2016A-1
5
.000
06/15/28
3,077,843
7,795,000
New Jersey Transportation Trust Fund Authority, Federal
Highway Reimbursement Revenue Notes, Series 2016A-1
5
.000
06/15/29
7,865,565
5,450,000
New Jersey Transportation Trust Fund Authority, Transportation
Program Bonds, Series 2022BB
4
.000
06/15/46
5,177,003
4,390,000
(d)
New Jersey Transportation Trust Fund Authority, Transportation
Program Bonds, Series 2022CC, (Pre-refunded 12/15/32)
5
.500
06/15/50
5,264,540
4,000,000
New Jersey Transportation Trust Fund Authority, Transportation
Program Bonds, Series 2023AA
5
.000
06/15/40
4,401,100
4,890,000
(a)
New Jersey Transportation Trust Fund Authority, Transportation
Program Bonds, Series 2023BB, (UB)
5
.250
06/15/50
5,145,248
5,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Capital Appreciation Series 2010A
0
.000
12/15/26
4,894,322
16,495,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Capital Appreciation Series 2010A
0
.000
12/15/33
12,998,149
1,815,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Refunding Series 2006C
0
.000
12/15/26
1,779,695
10,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Refunding Series 2006C - FGIC Insured
0
.000
12/15/30
8,777,515
27
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW JERSEY
(continued)
$
38,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Refunding Series 2006C - AGM Insured
0
.000
%
12/15/33
$
30,107,145
45,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Refunding Series 2006C - AMBAC Insured
0
.000
12/15/35
32,618,403
10,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Refunding Series 2006C - AMBAC Insured
0
.000
12/15/36
6,921,424
5,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Series 2019A
5
.000
12/15/32
5,457,461
5,000,000
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Series 2019BB
4
.000
06/15/44
4,879,774
5,500,000
(a)
New Jersey Turnpike Authority, Turnpike Revenue Bonds,
Series 2022B, (UB)
5
.000
01/01/46
5,806,473
5,000,000
South Jersey Transportation Authority, New Jersey,
Transportation System Revenue Bonds, Series 2022A
5
.250
11/01/52
5,160,572
10,355,000
Tobacco Settlement Financing Corporation, New Jersey,
Tobacco Settlement Asset-Backed Bonds, Series 2018A
5
.000
06/01/46
10,207,321
4,710,000
Tobacco Settlement Financing Corporation, New Jersey,
Tobacco Settlement Asset-Backed Bonds, Series 2018A
5
.250
06/01/46
4,698,119
2,150,000
Tobacco Settlement Financing Corporation, New Jersey,
Tobacco Settlement Asset-Backed Bonds, Series 2018B
5
.000
06/01/46
2,090,210
TOTAL NEW JERSEY
240,794,837
NEW MEXICO - 0.1% (0.1% of Total Investments)
3,955,000
New Mexico Hospital Equipment Loan Council, Hospital
Revenue Bonds, Presbyterian Healthcare Services, Series
2019A
4
.000
08/01/48
3,543,257
1,000,000
University of New Mexico, Revenue Bonds, System
Improvement Series 2023 - AGM Insured
5
.500
06/01/53
1,074,907
TOTAL NEW MEXICO
4,618,164
NEW YORK - 12.1% (7.3% of Total Investments)
7,000,000
Brooklyn Arena Local Development Corporation, New York,
Payment in Lieu of Taxes Revenue Bonds, Barclays Center
Project, Series 2009
0
.000
07/15/45
2,618,455
1,000,000
(c)
Dormitory Authority of the State of New York, Revenue Bonds,
Orange Regional Medical Center Obligated Group, Series
2017
5
.000
12/01/33
1,004,944
10,000,000
Dormitory Authority of the State of New York, State Personal
Income Tax Revenue Bonds, General Purpose Series 2022A
4
.000
03/15/39
10,221,938
19,335,000
Dormitory Authority of the State of New York, State Personal
Income Tax Revenue Bonds, General Purpose Series 2022A
5
.000
03/15/46
20,151,826
4,115,000
Dormitory Authority of the State of New York, State Personal
Income Tax Revenue Bonds, General Purpose Series 2022A
4
.000
03/15/49
3,739,791
14,800,000
Dormitory Authority of the State of New York, State Personal
Income Tax Revenue Bonds, General Purpose, Series 2019A.
Bidding Group 1,2,3,4
4
.000
03/15/48
13,468,749
25,755,000
Dormitory Authority of the State of New York, State Personal
Income Tax Revenue Bonds, General Purpose, Series 2019D
4
.000
02/15/47
23,711,920
10,000,000
Dormitory Authority of the State of New York, State Sales Tax
Revenue Bonds, Series 2018E Group 2
5
.000
03/15/40
10,511,897
5,000,000
Dormitory Authority of the State of New York, State Sales Tax
Revenue Bonds, Series 2024A
5
.000
03/15/54
5,149,745
1,645,000
Genesee County Funding Corporation, New York, Revenue
Bonds, Rochester Regional Health Project, Series 2022A
5
.250
12/01/52
1,653,931
10,000,000
Liberty Development Corporation, New York, Goldman Sachs
Headquarter Revenue Bonds, Series 2005
5
.250
10/01/35
11,820,469
5,000,000
Long Island Power Authority, New York, Electric System General
Revenue Bonds, Series 2018
5
.000
09/01/37
5,278,849
15,000,000
Metropolitan Transportation Authority, New York, Dedicated
Tax Fund Bonds, Green Series 2024B-1
5
.000
11/15/50
15,520,347
8,620,000
(a)
Monroe County Industrial Development Corporation, New
York, Revenue Bonds,  University of Rochester Project, Series
2023A, (UB)
5
.000
07/01/53
8,895,546
Portfolio of Investments January 31, 2026
(continued)
NEA
28
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW YORK
(continued)
$
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
$
4,981,525
5,500,000
New York City Municipal Water Finance Authority, New York,
Water and Sewer System Second General Resolution Revenue
Bonds, Fiscal 2020 Series GG-1
4
.000
06/15/50
5,037,036
7,500,000
New York City Municipal Water Finance Authority, New York,
Water and Sewer System Second General Resolution Revenue
Bonds, Fiscal 2024 Series CC-1
5
.250
06/15/54
7,868,298
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
5,202,769
6,300,000
New York City Transitional Finance Authority, New York, Future
Tax Secured Bonds, Subordinate Fiscal 2021 Subseries C-1
4
.000
05/01/46
5,856,354
10,000,000
New York City Transitional Finance Authority, New York, Future
Tax Secured Bonds, Subordinate Fiscal 2021 Subseries E-1
4
.000
02/01/42
9,988,942
13,000,000
New York City Transitional Finance Authority, New York, Future
Tax Secured Bonds, Subordinate Fiscal 2022 Subseries F-1
5
.000
02/01/47
13,389,470
11,665,000
(a)
New York City Transitional Finance Authority, New York, Future
Tax Secured Bonds, Subordinate Fiscal 2026 Subseries Series
A-1, (UB)
5
.250
05/01/52
12,251,194
11,220,000
New York City Transitional Finance Authority, New York, Future
Tax Secured Bonds, Subordinate Fiscal Series 2024A-1
5
.000
05/01/53
11,449,145
2,060,000
New York City, New York, General Obligation Bonds, Fiscal
2017 Series B-1
5
.000
12/01/41
2,088,037
10,370,000
New York City, New York, General Obligation Bonds, Fiscal
2020 Series A-1
4
.000
08/01/42
10,211,128
3,500,000
New York City, New York, General Obligation Bonds, Fiscal
2020 SeriesD-1
4
.000
03/01/50
3,136,651
12,350,000
New York City, New York, General Obligation Bonds, Fiscal
2021 Series F-1
5
.000
03/01/50
12,618,020
12,000,000
New York City, New York, General Obligation Bonds, Fiscal
2022 Series A-1
5
.000
08/01/47
12,338,987
5,000
New York City, New York, General Obligation Bonds, Fiscal
Series 1996J
5
.500
02/15/26
5,006
23,920,000
(c)
New York Liberty Development Corporation, New York, Liberty
Revenue Bonds, 3 World Trade Center Project, Class 1 Series
2014
5
.000
11/15/44
23,920,636
1,590,000
New York Liberty Development Corporation, New York, Liberty
Revenue Bonds, Secured by Port Authority Consolidated
Bonds, Refunding Series 1WTC-2021 - BAM Insured
4
.000
02/15/43
1,563,165
4,000,000
New York State Dormitory Authority, Personal Income Tax
Revenue Bonds, General Purpose Series 2025C
5
.250
03/15/46
4,326,824
5,900,000
New York State Thruway Authority, State Personal Income Tax
Revenue Bonds, Bidding Group 1 Series 2022A
4
.000
03/15/50
5,460,870
20,000,000
(a)
New York State Thruway Authority, State Personal Income Tax
Revenue Bonds, Series 2025A-3, (UB)
5
.000
03/15/48
20,907,636
4,000,000
New York State Thruway Authority, State Personal Income Tax
Revenue Bonds, Transportation Series 2021A-1
4
.000
03/15/44
3,906,098
25,035,000
New York State Urban Development Corporation, State
Personal Income Tax Revenue Bonds, General Purpose, Series
2022A
5
.000
03/15/45
26,183,115
5,500,000
New York State Urban Development Corporation, State
Personal Income Tax Revenue Bonds, General Purpose, Series
2022A
5
.000
03/15/46
5,691,024
7,500,000
New York State Urban Development Corporation, State Sales
Tax Revenue Bonds, Series 2019A
5
.000
03/15/40
7,930,113
9,385,000
New York State Urban Development Corporation, State Sales
Tax Revenue Bonds, Series 2024A
5
.000
03/15/49
9,747,025
4,095,000
Triborough Bridge and Tunnel Authority, New York, General
Purpose Revenue Bonds, Refunding Series 2015A
5
.000
11/15/50
4,096,175
10,725,000
Triborough Bridge and Tunnel Authority, New York, General
Purpose Revenue Bonds, Refunding Subordinate Lien Series
2013A
0
.000
11/15/31
9,067,604
29
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW YORK
(continued)
$
1,105,000
Triborough Bridge and Tunnel Authority, New York, General
Purpose Revenue Bonds, Refunding Subordinate Lien Series
2013A
0
.000
%
11/15/32
$
900,466
1,300,000
Triborough Bridge and Tunnel Authority, New York, General
Revenue Bonds, MTA Bridges & Tunnels, Series 2020A
5
.000
11/15/54
1,334,283
3,265,000
Triborough Bridge and Tunnel Authority, New York, Payroll
Mobility Tax Bonds, Senior Lien Series 2022 A
5
.000
05/15/44
3,456,488
9,695,000
(a)
Triborough Bridge and Tunnel Authority, New York, Payroll
Mobility Tax Bonds, Senior Lien Series 2022A - BAM Insured,
(UB)
5
.000
05/15/57
9,891,136
6,500,000
Triborough Bridge and Tunnel Authority, New York, Sales
Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital
Lockbox-City Sales Tax, Series 2022A
5
.000
05/15/47
6,736,634
12,000,000
Triborough Bridge and Tunnel Authority, New York, Sales
Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital
Lockbox-City Sales Tax, Series 2022A
5
.250
05/15/52
12,487,464
10,000,000
(a)
Triborough Bridge and Tunnel Authority, New York, Sales
Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital
Lockbox-City Sales Tax, Series 2024A-1 - BAM Insured, (UB)
5
.250
05/15/59
10,475,112
5,000,000
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series
2006
5
.000
06/01/45
4,565,427
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
886,623
TOTAL NEW YORK
423,704,887
NORTH CAROLINA - 2.8% (1.7% of Total Investments)
1,000,000
Catawba County, North Carolina, General Obligation Bonds,
Limited Obligation Series 2014A
5
.000
06/01/30
1,002,220
730,000
Catawba County, North Carolina, General Obligation Bonds,
Limited Obligation Series 2014A
5
.000
06/01/31
731,590
1,365,000
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte
Douglas International, Refunding Series 2017A
5
.000
07/01/42
1,390,713
5,390,000
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte
Douglas International, Refunding Series 2017A
5
.000
07/01/47
5,433,982
5,000,000
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte
Douglas International, Series 2023A
5
.000
07/01/48
5,221,541
4,000,000
Charlotte-Mecklenburg Hospital Authority, North Carolina,
Health Care Revenue Bonds, Doing Business as Atrium Health,
Refunding Series 2018A
5
.000
01/15/36
4,242,028
2,000,000
(d)
Greensboro, North Carolina, Limited Obligation Bonds,
Coliseum Complex Project, Series 2018A, (Pre-refunded
4/01/28)
5
.000
04/01/42
2,116,701
6,140,000
(d)
New Hanover County, North Carolina, Hospital Revenue Bonds,
New Hanover Regional Medical Center, Series 2017, (Pre-
refunded 10/01/27)
5
.000
10/01/47
6,411,426
2,500,000
North Carolina Agricultural & Technical State University,
General Revenue Bonds, Series 2023
5
.000
10/01/52
2,583,370
5,000,000
North Carolina Capital Facilities Financing Agency, Educational
Facility Revenue Bonds, Wake Forest University, Refunding
Series 2016
4
.000
01/01/37
5,012,475
2,500,000
North Carolina Capital Facilities Financing Agency, Educational
Facility Revenue Bonds, Wake Forest University, Series 2018
5
.000
01/01/48
2,530,262
700,000
North Carolina Medical Care Commission,  Retirement
Facilities First Mortgage Revenue Bonds, Southminster Project,
Refunding Series 2016
5
.000
10/01/31
706,579
2,720,000
North Carolina Medical Care Commission,  Retirement
Facilities First Mortgage Revenue Bonds, Southminster Project,
Refunding Series 2016
5
.000
10/01/37
2,734,659
3,000,000
North Carolina Medical Care Commission, Health Care
Facilities Revenue Bonds, Wake Forest Baptist Obligated
Group, Series 2012A
5
.000
12/01/45
3,001,524
1,545,000
North Carolina Municipal Power Agency 1, Catawba Electric
Revenue Bonds, Refunding Series 2015A
5
.000
01/01/28
1,555,985
Portfolio of Investments January 31, 2026
(continued)
NEA
30
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH CAROLINA
(continued)
$
1,500,000
North Carolina Municipal Power Agency 1, Catawba Electric
Revenue Bonds, Refunding Series 2015A
5
.000
%
01/01/32
$
1,510,914
835,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/28
757,561
800,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/30
660,242
850,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/31
666,908
2,400,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/33
1,702,182
3,160,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/36
1,916,147
3,100,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/37
1,784,309
1,900,000
North Carolina Turnpike Authority, Monroe Expressway
Toll  Revenue Bonds, Capital Appreciation Series 2017C
0
.000
07/01/40
939,540
2,200,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Refunding Senior Lien Series 2017 - AGM
Insured
5
.000
01/01/39
2,228,941
1,000,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Refunding Series 2018
5
.000
01/01/40
1,034,731
150,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2009B - AGC Insured
0
.000
01/01/31
129,911
4,375,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2009B - AGC Insured
0
.000
01/01/33
3,522,209
2,300,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2009B - AGC Insured
0
.000
01/01/34
1,780,178
2,380,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2009B - AGC Insured
0
.000
01/01/35
1,765,032
7,575,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2009B - AGC Insured
0
.000
01/01/37
5,099,112
1,470,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2009B - AGC Insured
0
.000
01/01/38
941,984
10,000,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2019
5
.000
01/01/49
10,090,621
2,500,000
Raleigh, North Carolina, Combined Enterprise System Revenue
Bonds, Refunding Series 2016A
4
.000
03/01/46
2,456,626
1,250,000
Sampson County, North Carolina, Limited Obligaiton Bonds,
Refunding Series 2017
4
.000
09/01/35
1,258,580
1,265,000
Sampson County, North Carolina, Limited Obligaiton Bonds,
Refunding Series 2017
4
.000
09/01/36
1,272,917
1,000,000
Sampson County, North Carolina, Limited Obligaiton Bonds,
Refunding Series 2017
4
.000
09/01/37
1,005,703
4,735,000
University of North Carolina, Charlotte, General Revenue
Bonds, Series 2017
5
.000
10/01/42
4,845,388
4,765,000
University of North Carolina, Greensboro, General Revenue
Bonds, Series 2018
5
.000
04/01/43
4,886,722
1,250,000
Western Carolina University, North Carolina, General Revenue
Bonds, Refunding Series 2015A
5
.000
10/01/45
1,250,518
TOTAL NORTH CAROLINA
98,182,031
NORTH DAKOTA - 1.3% (0.8% of Total Investments)
1,000,000
Grand Forks, North Dakota, Health Care System Revenue
Bonds, Altru Health System Obligated Group, Series 2017A
5
.000
12/01/37
1,013,521
8,525,000
Grand Forks, North Dakota, Health Care System Revenue
Bonds, Altru Health System Obligated Group, Series 2017A
5
.000
12/01/42
8,573,418
7,070,000
Grand Forks, North Dakota, Health Care System Revenue
Bonds, Altru Health System Obligated Group, Series 2017A
4
.000
12/01/47
5,981,843
1,800,000
Grand Forks, North Dakota, Health Care System Revenue
Bonds, Altru Health System Obligated Group, Series 2021
4
.000
12/01/51
1,524,043
645,000
Grand Forks, North Dakota, Health Care System Revenue
Bonds, Altru Health System Obligated Group, Series 2023A -
AGM Insured
5
.000
12/01/53
651,053
31
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH DAKOTA
(continued)
$
900,000
Grand Forks, North Dakota, Senior Housing & Nursing Facilities
Revenue Bonds, Valley Homes and Services Obligated Group,
Series 2017
5
.000
%
12/01/36
$
901,335
13,000,000
(a)
North Dakota Housing Finance Agency, Home Mortgage
Program Revenue Bonds, Social Series 2024D, (UB)
4
.650
07/01/49
13,020,476
2,700,000
University of North Dakota, Certificates of Participation,
Housing Infrastructure Project, Series 2021A - AGM Insured
4
.000
06/01/51
2,431,815
11,065,000
Ward County Health Care, North Dakota, Revenue Bonds,
Trinity Obligated Group, Series 2017C
5
.000
06/01/43
10,354,275
935,402
(f)
Williston, North Dakota, Multifamily Housing Revenue Bonds,
Eagle Crest Apartments LLC Project, Series 2013
7
.750
09/01/38
35,639
TOTAL NORTH DAKOTA
44,487,418
OHIO - 3.6% (2.2% of Total Investments)
3,020,000
(d)
Akron, Bath and Copley Joint Township Hospital District,
Ohio, Hospital Facilities Revenue Bonds, Summa Health
System, Refunding & Improvement Series 2016, (Pre-refunded
11/15/26)
5
.250
11/15/41
3,086,883
8,255,000
(d)
Akron, Bath and Copley Joint Township Hospital District,
Ohio, Hospital Facilities Revenue Bonds, Summa Health
System, Refunding & Improvement Series 2016, (Pre-refunded
11/15/26)
5
.250
11/15/46
8,437,819
10,940,000
Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy
Health, Refunding & Improvement Series 2015A
5
.000
11/01/43
10,947,746
6,655,000
Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy
Health, Series 2017A
4
.000
08/01/38
6,674,123
10,000,000
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
761,544
1,095,000
Buckeye Tobacco Settlement Financing Authority, Ohio,
Tobacco Settlement Asset-Backed Revenue Bonds, Refunding
Senior Lien Series 2020A-2 Class 1
4
.000
06/01/48
944,611
11,500,000
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
9,474,123
5,000,000
Cleveland Clinic Health System Obligated Group, Ohio, Martin
County Health Facilities Authority, Hospital Revenue Bonds,
Series 2019B
4
.000
01/01/43
4,862,337
2,750,000
Columbus Regional Airport Authority, Ohio, Revenue Bonds,
John Glenn Columbus International Airport, Series 2025B
5
.000
01/01/45
2,920,238
2,335,000
Columbus Regional Airport Authority, Ohio, Revenue Bonds,
John Glenn Columbus International Airport, Series 2025B
5
.250
01/01/50
2,457,720
5,165,000
Cuyahoga Community College District, Ohio, General
Obligation Bonds, Facilities Construction & Improvement
Series 2018
4
.000
12/01/38
5,172,861
5,975,000
Fairfield County, Ohio, Hospital Facilities Revenue Bonds,
Fairfield Medical Center Project, Series 2013
5
.000
06/15/43
5,269,268
1,500,000
Hamilton County, Ohio, Healthcare Revenue Bonds, Life
Enriching Communities Project, Series 2017A
5
.000
01/01/47
1,469,576
1,120,000
Hamilton County, Ohio, Healthcare Revenue Bonds, Life
Enriching Communities Project, Series 2017A
5
.000
01/01/52
1,072,691
3,425,000
Hamilton County, Ohio, Healthcare Revenue Bonds, Life
Enriching Communities, Refunding & Improvement Series
2016
5
.000
01/01/46
3,383,362
6,000,000
Hamilton County, Ohio, Healthcare Revenue Bonds, Life
Enriching Communities, Refunding & Improvement Series
2016
5
.000
01/01/51
5,771,981
3,000,000
Hamilton County, Ohio, Hospital Facilities Revenue Bonds,
TriHealth, Inc. Obligated Group Project, Series 2017A
5
.000
08/15/42
3,048,065
5,000,000
Miami County, Ohio, Hospital Facilities Revenue Bonds,
Kettering Health Network Obligated Group Project, Refunding
Improvement Series 2019
5
.000
08/01/49
5,029,753
6,000,000
Middletown City School District, Butler County, Ohio, General
Obligation Bonds, Refunding Series 2007 - AGM Insured
5
.250
12/01/31
6,692,142
Portfolio of Investments January 31, 2026
(continued)
NEA
32
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
3,000,000
Ohio Higher Educational Facility Commission, Revenue Bonds,
University of Dayton, Series 2018A
5
.000
%
12/01/48
$
3,019,039
1,705,000
(a)
Ohio Housing Finance Agency, Residential Mortgage Revenue
Bonds, Mortgage-Backed Securities Program, Social Series
2024A, (UB)
4
.550
09/01/49
1,687,768
3,195,000
Ohio State, Hospital Revenue Bonds, University Hospitals
Health System, Inc., Fixed Interest Rate Series 2020A
5
.000
01/15/50
3,207,937
7,065,000
Ohio State, Hospital Revenue Bonds, University Hospitals
Health System, Inc., Series 2021A
4
.000
01/15/46
6,308,102
7,550,000
Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and
Infrastructutre Commission Infrastructure Projects, Junior Lien,
Capital Appreciation Series 2013A-3
5
.800
02/15/36
8,610,725
2,400,000
Ohio Water Development Authority, Water Pollution Control
Loan Fund Revenue Bonds, Green Series 2023B
5
.000
12/01/43
2,600,990
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
4,419,130
4,190,000
Springboro Community City School District, Warren County,
Ohio, General Obligation Bonds, Refunding Series 2007 - AGM
Insured
5
.250
12/01/26
4,288,062
3,670,000
Tuscarawas County Economic Development and Finance
Alliance, Ohio, Higher Education Facilities Revenue Bonds,
Ashland University, Refunding & Improvement Series 2015
6
.000
03/01/45
3,611,649
TOTAL OHIO
125,230,245
OKLAHOMA - 1.3% (0.8% of Total Investments)
3,135,000
Oklahoma Development Finance Authority, Health System
Revenue Bonds, OU Medicine Project, Series 2018B
5
.500
08/15/52
3,135,406
6,340,000
Oklahoma Development Finance Authority, Health System
Revenue Bonds, OU Medicine Project, Series 2018B
5
.500
08/15/57
6,307,706
9,040,000
(a)
Oklahoma Housing Finance Agency, Single Family Mortgage
Revenue Bonds, Homeownership Loan Program, Series 2024B,
(UB)
4
.600
09/01/44
9,125,443
3,080,000
Oklahoma State Turnpike Authority, Turnpike System Revenue
Bonds, Second Senior Series 2025A
5
.250
01/01/47
3,300,397
20,000,000
Oklahoma State Turnpike Authority, Turnpike System Revenue
Bonds, Second Senior Series 2025A
5
.500
01/01/54
21,632,038
1,125,000
Tulsa County Industrial Authority, Oklahoma, Senior Living
Community Revenue Bonds, Montereau, Inc Project, Refunding
Series 2017
5
.250
11/15/37
1,143,600
TOTAL OKLAHOMA
44,644,590
OREGON - 3.3% (2.0% of Total Investments)
1,180,000
Astoria Hospital Facilities Authority, Oregon, Hospital Revenue
Bonds, Columbia Memorial Hospital Project, Series 2024
5
.250
08/01/54
1,179,326
760,000
Clackamas Community College District, Oregon, General
Obligation Bonds, Deferred Interest Series 2017A
5
.000
06/15/38
779,834
1,000,000
Clackamas Community College District, Oregon, General
Obligation Bonds, Deferred Interest Series 2017A
5
.000
06/15/39
1,024,607
1,725,000
Clackamas Community College District, Oregon, General
Obligation Bonds, Deferred Interest Series 2017A
5
.000
06/15/40
1,764,647
1,185,000
Clackamas County Hospital Facility Authority, Oregon, Revenue
Bonds, Rose Villa Inc., Series 2020A
5
.375
11/15/55
1,176,708
4,170,000
Eugene, Oregon, Electric Utility Revenue Bonds, Series 2020A
4
.000
08/01/45
4,068,001
2,250,000
Eugene, Oregon, Water Utility System Revenue Bonds, Series
2023
5
.000
08/01/52
2,328,379
2,820,000
Oregon Facilities Authority, Revenue Bonds, Legacy Health
Project, Series 2016A
5
.000
06/01/46
2,823,557
7,895,000
Oregon Facilities Authority, Revenue Bonds, Legacy Health
Project, Series 2022A
5
.000
06/01/52
7,985,486
1,810,000
(c)
Oregon Facilities Authority, Revenue Bonds, Metro East Web
Academy Project, Series 2019A
5
.000
06/15/49
1,644,883
6,275,000
Oregon Facilities Authority, Revenue Bonds, Samaritan Health
Services, Refunding Series 2016A
5
.000
10/01/35
6,294,534
33
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OREGON
(continued)
$
140,000
(d)
Oregon Facilities Authority, Revenue Bonds, Samaritan Health
Services, Refunding Series 2016A, (Pre-refunded 10/01/26)
5
.000
%
10/01/46
$
142,343
2,120,000
Oregon Facilities Authority, Revenue Bonds, Samaritan Health
Services, Refunding Series 2016A
5
.000
10/01/46
2,098,914
2,490,000
Oregon Facilities Authority, Revenue Bonds, University of
Portland Projects, Refunding Series 2025A
5
.000
04/01/37
2,723,667
7,090,000
Oregon Facilities Authority, Revenue Bonds, University of
Portland Projects, Refunding Series 2025A
5
.500
04/01/49
7,428,187
23,400,000
Oregon Health and Science University, Revenue Bonds, Green
Series 2021A
4
.000
07/01/51
21,104,778
4,100,000
Port of Portland, Oregon, Portland International Airport,
Revenue Bonds, Series 2019 25A
5
.000
07/01/49
4,176,723
4,000,000
Salem Hospital Facility Authority, Oregon, Revenue Bonds,
Salem Health Projects, Refunding Series 2016A
4
.000
05/15/41
3,985,484
13,220,000
Salem Hospital Facility Authority, Oregon, Revenue Bonds,
Salem Health Projects, Refunding Series 2016A
5
.000
05/15/46
13,237,609
8,005,000
Salem Hospital Facility Authority, Oregon, Revenue Bonds,
Salem Health Projects, Series 2019A
5
.000
05/15/44
8,195,051
10,805,000
Tualatin Valley Water District, Oregon, Water Revenue Bonds,
Series 2023
5
.000
06/01/48
11,328,006
10,000,000
University of Oregon, General Revenue Bonds, Series 2020A
5
.000
04/01/50
10,293,774
TOTAL OREGON
115,784,498
PENNSYLVANIA - 6.4% (3.9% of Total Investments)
1,670,000
Allegheny County Sanitary Authority, Pennsylvania, Sewer
Revenue Bonds, Series 2020B
4
.000
06/01/45
1,617,326
2,000,000
Allegheny County Sanitary Authority, Pennsylvania, Sewer
Revenue Bonds, Series 2020B
4
.000
06/01/50
1,822,730
3,155,000
Bethlehem Authority, Northampton and Lehigh Counties,
Pennsylvania, Guaranteed Water Revenue Bonds, Series 1998
- AGM Insured
0
.000
05/15/26
3,129,848
4,145,000
Bethlehem Authority, Northampton and Lehigh Counties,
Pennsylvania, Guaranteed Water Revenue Bonds, Series 1998
- AGM Insured
0
.000
11/15/26
4,055,572
2,800,000
Bethlehem Authority, Northampton and Lehigh Counties,
Pennsylvania, Guaranteed Water Revenue Bonds, Series 1998
- AGM Insured
0
.000
05/15/28
2,625,167
3,000,000
Bethlehem Authority, Northampton and Lehigh Counties,
Pennsylvania, Guaranteed Water Revenue Bonds, Series 1998
- AGM Insured
0
.000
11/15/28
2,773,745
1,200,000
Centre County Hospital Authority, Pennsylvania, Hospital
Revenue Bonds, Mount Nittany Medical Center Project, Series
2018A
5
.000
11/15/42
1,219,117
895,000
Commonwealth Financing Authority, Pennsylvania, State
Appropriation Lease Bonds, Master Settlement, Series 2018
5
.000
06/01/34
936,829
3,595,000
Delaware River Joint Toll Bridge Commission, New Jersey and
Pennsylvania, Bridge System Revenue Bonds, Series 2017
5
.000
07/01/42
3,666,150
5,000,000
Delaware River Joint Toll Bridge Commission, New Jersey and
Pennsylvania, Bridge System Revenue Bonds, Series 2017
5
.000
07/01/47
5,044,554
5,000,000
Lancaster County Hospital Authority, Pennsylvania, Revenue
Bonds, Penn State Health, Series 2021
5
.000
11/01/51
5,010,254
4,915,000
Lancaster County Hospital Authority, Pennsylvania, Revenue
Bonds, United Zion Retirement Community, Series 2017A
5
.000
12/01/47
3,993,691
4,480,000
Lehigh County Authority, Pennsylvania, Water and Sewer
Revenue Bonds, Allentown Concession, Capital Appreciation
Series 2013B
0
.000
12/01/31
3,777,868
5,180,000
Lehigh County Authority, Pennsylvania, Water and Sewer
Revenue Bonds, Allentown Concession, Capital Appreciation
Series 2013B
0
.000
12/01/32
4,208,774
5,210,000
Montgomery County Higher Education and Health Authority,
Pennsylvania, Revenue Bonds, Thomas Jefferson University,
Series 2018A
5
.000
09/01/43
5,303,295
Portfolio of Investments January 31, 2026
(continued)
NEA
34
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
1,000,000
Montgomery County Higher Education and Health Authority,
Pennsylvania, Revenue Bonds, Thomas Jefferson University,
Series 2019
4
.000
%
09/01/44
$
911,461
630,207
(f)
Northampton County Industrial Development Authority,
Pennsylvania, Recovery Revenue Bonds, Northampton
Generating Project, Senior Lien Series 2013A0 & AE2
2
.200
06/30/27
277,291
347,128
(f)
Northampton County Industrial Development Authority,
Pennsylvania, Recovery Revenue Bonds, Northampton
Generating Project, Senior Lien Taxable Series 2013B, (cash
5.000%, PIK 5.000%)
0
.900
06/30/27
62,483
7,340,000
(a)
Pennsylvania Higher Educational Facilities Authority, Revenue
Bonds, Thomas Jefferson University, Series 2024B-1, (UB)
5
.250
11/01/48
7,662,015
6,800,000
(a)
Pennsylvania Higher Educational Facilities Authority, Revenue
Bonds, Thomas Jefferson University, Series 2024B-2, (UB)
5
.000
11/01/54
6,938,948
5,910,000
Pennsylvania Higher Educational Facilities Authority, Revenue
Bonds, University of Pennsylvania Health System, Series 2019
4
.000
08/15/44
5,575,992
5,250,000
(a)
Pennsylvania Housing Finance Agency, Single Family Mortgage
Revenue Bonds, Social Series 2024-144A, (UB)
4
.650
10/01/51
5,112,768
20,000,000
(a)
Pennsylvania Housing Finance Agency, Single Family Mortgage
Revenue Bonds, Social Series 2025-150A, (UB)
5
.200
10/01/50
20,312,050
16,000,000
Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue
Bonds, Senior Lien Series 2021A
4
.000
12/01/51
14,504,437
16,805,000
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Capital Appreciation Series 2009E
6
.375
12/01/38
17,753,488
5,800,000
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Series 2019A
5
.000
12/01/49
5,922,655
6,500,000
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Series 2021B
5
.000
12/01/46
6,779,477
17,375,000
(a)
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Series 2023A, (UB)
5
.250
12/01/53
18,188,590
19,250,000
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Subordinate Series 2009C - AGM Insured
6
.250
06/01/33
19,482,276
7,000,000
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Subordinate Series 2019A
4
.000
12/01/49
6,363,332
7,475,000
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,
Subordinate Series 2021A
4
.000
12/01/45
7,017,044
1,445,000
Philadelphia Authority for Industrial Development Senior Living
Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley
Enhanced Living Obligated Group, Series 2017A
5
.000
07/01/37
1,450,807
7,500,000
Philadelphia School District, Pennsylvania, General Obligation
Bonds, Series 2021A - BAM Insured
4
.000
09/01/46
6,905,775
3,410,000
(d)
Philadelphia, Pennsylvania, Water and Wastewater Revenue
Bonds, Series 1997A - AMBAC Insured, (ETM)
5
.125
08/01/27
3,541,939
7,565,000
Philadelphia, Pennsylvania, Water and Wastewater Revenue
Bonds, Series 2023B - AGM Insured
5
.500
09/01/53
8,076,373
5,000,000
Philadelphia, Pennsylvania, Water and Wastewater Revenue
Bonds, Series 2024C
5
.250
09/01/54
5,286,343
8,135,000
Southcentral Pennsylvania General Authority, Revenue Bonds,
Wellspan Health Obligated Group, Series 2019A
4
.000
06/01/49
7,286,341
TOTAL PENNSYLVANIA
224,596,805
PUERTO RICO - 2.2% (1.3% of Total Investments)
3,862,069
Cofina Class 2 Trust Tax-Exempt Class 2054, Puerto Rico. Unit
Exchanged From Cusip 74529JAP0
0
.000
08/01/54
807,321
5,281,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
4
.500
07/01/34
5,281,831
6,000,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
0
.000
07/01/51
1,527,608
23,031,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
4
.750
07/01/53
22,250,102
32,452,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
5
.000
07/01/58
31,816,762
1,370,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured Cofina Project Series 2019A-2A
4
.550
07/01/40
1,372,314
35
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO RICO
(continued)
$
6,448,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Taxable Restructured Cofina Project Series
2019A-2
4
.329
%
07/01/40
$
6,417,123
4,503,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Taxable Restructured Cofina Project Series
2019A-2
4
.329
07/01/40
4,481,437
4,727,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Taxable Restructured Cofina Project Series
2019A-2
4
.784
07/01/58
4,516,991
TOTAL PUERTO RICO
78,471,489
RHODE ISLAND - 0.9% (0.5% of Total Investments)
3,000,000
Rhode Island Health and Educational Building Corporation,
Hospital Financing Revenue Bonds, Lifespan Obligated Group
Issue Series 2024
5
.250
05/15/54
3,021,066
1,315,000
Rhode Island Health and Educational Building Corporation,
Hospital Financing Revenue Bonds, Lifespan Obligated Group,
Refunding Series 2016
5
.000
05/15/39
1,316,613
174,390,000
Rhode Island Tobacco Settlement Financing Corporation,
Tobacco Settlement Asset-Backed Bonds, Series 2007A
0
.000
06/01/52
25,411,797
TOTAL RHODE ISLAND
29,749,476
SOUTH CAROLINA - 3.8% (2.3% of Total Investments)
25,200,000
(a)
Charleston County Airport District, South Carolina, Airport
Revenue Bonds, Series 2024B, (UB)
5
.250
07/01/54
26,468,127
1,290,000
Lexington County Health Services District, Inc., South Carolina,
Hospital Revenue Bonds, Lexington Medical Center, Series
2016
5
.000
11/01/41
1,293,191
4,000,000
Lexington County Health Services District, Inc., South Carolina,
Hospital Revenue Bonds, Lexington Medical Center, Series
2016
5
.000
11/01/46
4,002,982
26,955,000
Piedmont Municipal Power Agency, South Carolina, Electric
Revenue Bonds, Series 2004A-2 - AMBAC Insured
0
.000
01/01/31
23,299,900
15,420,000
Piedmont Municipal Power Agency, South Carolina, Electric
Revenue Bonds, Series 2004A-2 - AMBAC Insured
0
.000
01/01/32
12,869,723
4,000,000
Rock Hill, South Carolina, Combined Utility System Revenue
Bonds, Series 2024A
5
.000
01/01/54
4,088,030
1,000,000
South Carolina Jobs-Economic Development Authority,
Educational Facilities Revenue Bonds, Riverwalk Academy
Project Series 2023A
7
.000
06/15/43
1,031,066
1,095,000
South Carolina Jobs-Economic Development Authority,
Educational Facilities Revenue Bonds, Riverwalk Academy
Project Series 2023A
7
.125
06/15/53
1,109,720
12,000,000
South Carolina Jobs-Economic Development Authority,
Hospital Revenue Bonds, Bon Secours Mercy Health, Inc, Series
2020A
4
.000
12/01/44
11,068,736
9,030,000
South Carolina Jobs-Economic Development Authority,
Hospital Revenue Bonds, McLeod Health Projects, Refunding &
Improvement Series 2018
5
.000
11/01/43
9,176,425
6,210,000
South Carolina Jobs-Economic Development Authority,
Hospital Revenue Bonds, McLeod Health Projects, Refunding &
Improvement Series 2018
4
.000
11/01/48
5,678,803
3,490,000
South Carolina Jobs-Economic Development Authority,
Hospital Revenue Bonds, McLeod Health Projects, Refunding &
Improvement Series 2018
5
.000
11/01/48
3,526,982
6,800,000
South Carolina Public Service Authority, Santee Cooper
Revenue Obligations, Refunding Series 2016B
5
.000
12/01/46
6,831,528
10,000,000
South Carolina Public Service Authority, Santee Cooper
Revenue Obligations, Refunding Series 2016B
5
.000
12/01/56
10,007,837
5,000,000
South Carolina Public Service Authority, Santee Cooper
Revenue Obligations, Refunding Series 2022A
4
.000
12/01/52
4,452,817
8,686,000
South Carolina Public Service Authority, Santee Cooper
Revenue Obligations, Refunding Series 2022B
4
.000
12/01/39
8,786,679
TOTAL SOUTH CAROLINA
133,692,546
Portfolio of Investments January 31, 2026
(continued)
NEA
36
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH DAKOTA - 1.1% (0.6% of Total Investments)
$
4,000,000
Clay County, South Dakota, General Obligation Bonds, Series
2023
5
.000
%
12/01/52
$
4,111,273
3,000,000
Sioux Falls, South Dakota, Health Facilities Revenue Bonds,
Dow Rummel Village Project, Series 2017
5
.000
11/01/42
2,866,313
3,150,000
Sioux Falls, South Dakota, Health Facilities Revenue Bonds,
Dow Rummel Village Project, Series 2017
5
.125
11/01/47
2,837,475
22,800,000
South Dakota Health and Educational Facilities Authority,
Revenue Bonds, Monument Health, Inc., Series 2020A
4
.000
09/01/50
20,976,741
1,150,000
South Dakota Health and Educational Facilities Authority,
Revenue Bonds, Sanford Health, Series 2014B
5
.000
11/01/44
1,150,336
5,245,000
South Dakota Health and Educational Facilities Authority,
Revenue Bonds, Sanford Health, Series 2015
5
.000
11/01/45
5,257,344
TOTAL SOUTH DAKOTA
37,199,482
TENNESSEE - 1.9% (1.1% of Total Investments)
2,180,000
Greeneville Health and Educational Facilities Board, Tennessee,
Hospital Revenue Bonds, Ballad Health, Series 2018A
5
.000
07/01/35
2,271,227
5,000,000
Knox County Health, Educational and Housing Facilities Board,
Tennessee, Revenue Bonds, University Health System, Inc.,
Series 2016
5
.000
09/01/36
5,024,313
1,000,000
Knox County Health, Educational and Housing Facilities Board,
Tennessee, Revenue Bonds, University Health System, Inc.,
Series 2016
5
.000
09/01/47
999,227
445,000
Knox County Health, Educational and Housing Facilities Board,
Tennessee, Revenue Bonds, University Health System, Inc.,
Series 2017
5
.000
04/01/31
452,160
1,755,000
Knox County Health, Educational and Housing Facilities Board,
Tennessee, Revenue Bonds, University Health System, Inc.,
Series 2017
5
.000
04/01/36
1,771,579
6,165,000
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
6,530,696
11,670,000
Metropolitan Government of Nashville and Davidson County
Sports Authority, Tennessee, Revenue Bonds, Stadium Project,
Subordinate Senior Series 2023A - AGM Insured
5
.250
07/01/56
12,204,055
4,170,000
Metropolitan Government of Nashville-Davidson County
Health and Educational Facilities Board, Tennessee, Revenue
Bonds, Belmont University, Series 2023
5
.250
05/01/53
4,269,033
2,225,000
Metropolitan Government of Nashville-Davidson County
Health and Educational Facilities Board, Tennessee, Revenue
Bonds, Lipscomb University, Refunding & Improvement Series
2016A
5
.000
10/01/41
2,219,766
2,910,000
Metropolitan Government of Nashville-Davidson County
Health and Educational Facilities Board, Tennessee, Revenue
Bonds, Lipscomb University, Refunding & Improvement Series
2016A
5
.000
10/01/45
2,762,677
5,000,000
Metropolitan Government of Nashville-Davidson County
Health and Educational Facilities Board, Tennessee, Revenue
Bonds, Vanderbilt University Medical Center, Series 2016A
5
.000
07/01/40
5,024,448
6,000,000
Metropolitan Government of Nashville-Davidson County
Health and Educational Facilities Board, Tennessee, Revenue
Bonds, Vanderbilt University Medical Center, Series 2016A
5
.000
07/01/46
6,003,868
2,750,000
Metropolitan Knoxville Airport Authority, Tennessee, Airport
Revenue Bonds, Series 2024A
5
.250
06/01/54
2,871,660
390,000
(c)
Shelby County Health, Educational, Housing, and Facility
Board, Tennessee, Student Housing Revenue Bonds, Madrone
Memphis Student Housing, I LLC - University of Memphis
Project Series 2024A-1
5
.250
06/01/56
375,986
6,270,000
Tennessee State School Bond Authority, Higher Educational
Facilities Second Program Bonds, Series 2022A
5
.000
11/01/52
6,509,031
7,325,000
(b)
The Tennessee Energy Acquisition Corporation, Gas Project
Revenue Bonds, Series 2023A-1, (Mandatory Put 5/01/28)
5
.000
05/01/53
7,592,894
TOTAL TENNESSEE
66,882,620
37
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS - 12.3% (7.4% of Total Investments)
$
2,260,000
Austin, Texas, Electric Utility System Revenue Bonds, Refunding
& Improvement Series 2023
5
.000
%
11/15/48
$
2,361,008
7,735,000
(a)
Board of Regents of the University of Texas System, Revenue
Financing System Bonds, Series 2025B, (UB)
5
.000
08/15/51
8,082,055
6,000,000
(g)
Board of Regents of the University of Texas System, Revenue
Financing System Bonds, Series 2026A
5
.000
08/15/43
6,682,961
1,000,000
Cedar Hill Independent School District, Dallas County, Texas,
General Obligation Bonds, Refunding Series 2002 - FGIC
Insured
0
.000
08/15/32
810,738
1,925,000
Clifton Higher Education Finance Corporation, Texas,
Education Revenue Bonds, Uplift Education Charter School,
Series 2013A
4
.350
12/01/42
1,860,399
1,000,000
Clifton Higher Education Finance Corporation, Texas,
Education Revenue Bonds, Uplift Education Charter School,
Series 2013A
4
.400
12/01/47
901,621
10,000,000
Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds,
Refunding & Improvement Senior Lien Series 2021B
5
.000
12/01/47
10,386,352
5,000,000
Dallas Fort Worth International Airport, Texas, Joint Revenue
Bonds Refunding and Improvement Series 2024
4
.000
11/01/45
4,787,868
6,125,000
Dallas Fort Worth International Airport, Texas, Joint Revenue
Bonds Refunding Series 2021B
4
.000
11/01/45
5,865,138
7,810,000
Dallas Fort Worth International Airport, Texas, Joint Revenue
Bonds, Refunding Improvement Series 2023B
5
.000
11/01/47
8,158,318
10,000,000
Dallas-Fort Worth International Airport, Texas, Joint Revenue
Bonds, Refunding Series 2021A
4
.000
11/01/46
9,409,851
19,215,000
(a)
Ector County, Texas, Certificates of Obligation, Series 2024,
(UB)
5
.000
02/15/50
19,886,979
3,700,000
El Paso Independent School District, El Paso County, Texas,
General Obligation Bonds, School Building Series 2017
5
.000
08/15/42
3,751,066
3,500,000
Grand Parkway Transportation Corporation, Texas, System Toll
Revenue Bonds, Refunding First Tier Series 2020C
4
.000
10/01/40
3,531,984
10,000,000
Grand Parkway Transportation Corporation, Texas, System Toll
Revenue Bonds, Refunding First Tier Series 2020C
4
.000
10/01/45
9,521,196
8,500,000
Grand Parkway Transportation Corporation, Texas, System Toll
Revenue Bonds, Refunding First Tier Series 2020C
4
.000
10/01/49
7,796,401
12,695,000
Grand Parkway Transportation Corporation, Texas, System
Toll Revenue Bonds, Refunding First Tier Series 2020C - AGM
Insured
4
.000
10/01/49
11,817,940
5,295,000
Grand Parkway Transportation Corporation, Texas, System
Toll Revenue Bonds, Subordinate Lien Series 2018A. Tela
Supported
5
.000
10/01/48
5,382,612
5,000,000
Greenwood Independent School District, Midland County,
Texas, School Building Bonds, Series 2024
5
.000
02/15/49
5,163,404
9,275,000
Harris County Cultural Education Facilities Finance
Corporation, Texas, Hospital Revenue Bonds, Memorial
Hermann Health System, Series 2022A
4
.125
07/01/52
8,364,286
2,845,000
Harris County Cultural Education Facilities Finance
Corporation, Texas, Revenue Bonds, Houston Methodist
Hospital System, Series 2015
4
.000
12/01/45
2,596,554
2,320,000
Harris County Cultural Education Facilities Finance
Corporation, Texas, Revenue Bonds, Houston Methodist
Hospital System, Series 2015
5
.000
12/01/45
2,320,463
7,570,000
(a)
Harris County, Texas, Toll Road Revenue Bonds, Refunding First
Lien Series 2024A, (UB)
5
.250
08/15/54
8,018,883
5,000,000
Harris County, Texas, Toll Road Revenue Bonds, Refunding
Senior Lien Series 2018A
4
.000
08/15/48
4,705,450
4,040,000
(a),(c)
Harris County, Texas, Toll Road Revenue Bonds, Tender Options
Bond Trust 2015-XF2184. Formerly Tender Options Bond Trust
3028. - AGM Insured, (IF)
9
.761
08/15/28
4,955,011
1,195,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
11/15/41
581,693
Portfolio of Investments January 31, 2026
(continued)
NEA
38
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
2,390,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
%
11/15/42
$
1,100,447
2,660,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
11/15/43
1,157,254
7,260,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
11/15/44
2,967,695
10,440,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
11/15/45
3,959,032
7,165,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
11/15/49
2,151,422
3,000,000
Harris County-Houston Sports Authority, Texas, Revenue Bonds,
Capital Appreciation Refunding Senior Lien Series 2014A -
AGM Insured
0
.000
11/15/52
765,745
2,710,000
Houston, Texas, Airport System Revenue Bonds, Refunding &
Subordinate Lien Series 2018B
5
.000
07/01/48
2,745,187
5,000,000
Houston, Texas, Combined Utility System Revenue Bonds,
Combined First Lien Series 2024A
5
.250
11/15/54
5,269,660
1,715,000
Houston, Texas, Hotel Occupancy Tax and Special Revenue
Bonds, Convention and Entertainment Project, Series 2001B -
AMBAC Insured
0
.000
09/01/32
1,380,906
4,000,000
Leander Independent School District, Williamson and Travis
Counties, Texas, General Obligation Bonds, Refunding Series
2015A
4
.000
08/15/41
4,000,078
1,780,000
McCamey County Hospital District, Texas, General Obligation
Bonds, Series 2013
5
.750
12/01/33
1,781,421
1,800,000
McCamey County Hospital District, Texas, General Obligation
Bonds, Series 2013
6
.125
12/01/38
1,801,165
9,750,000
Midland Independent School District, Midland County, Texas,
General Obligation Bonds, School Building Series 2024
4
.000
02/15/54
8,856,153
16,285,000
Midtown Redevelopment Authority, Texas, Tax Increment
Contract Revenue, Refunding Series 2017
5
.000
01/01/36
16,570,302
10,040,000
Midtown Redevelopment Authority, Texas, Tax Increment
Contract Revenue, Refunding Series 2017 - AGM Insured
5
.000
01/01/38
10,210,251
2,100,000
Montgomery County Toll Road Authority, Texas, Toll Road
Revenue Bonds, Senior Lien Series 2018
5
.000
09/15/43
2,101,149
1,815,000
Montgomery County Toll Road Authority, Texas, Toll Road
Revenue Bonds, Senior Lien Series 2018
5
.000
09/15/48
1,815,250
4,240,000
New Braunfels, Comal County, Texas, Utility System Revenue
Bonds, Refunding Series 2022
5
.000
07/01/47
4,372,671
3,900,000
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
3,899,942
7,000,000
North Texas Municipal Water District, Texas, Regional
Wastewater Revenue Bonds, Improvement and Refunding
Series 2025
5
.000
06/01/53
7,251,486
1,880,000
(d)
North Texas Tollway Authority, Special Projects System Revenue
Bonds, Convertible Capital Appreciation Series 2011C, (Pre-
refunded 9/01/31)
7
.000
09/01/43
2,273,494
7,990,000
(d)
North Texas Tollway Authority, Special Projects System Revenue
Bonds, Convertible Capital Appreciation Series 2011C, (Pre-
refunded 9/01/31)
6
.750
09/01/45
9,744,176
2,125,000
North Texas Tollway Authority, System Revenue Bonds,
Refunding First Tier, Series 2008D - AGC Insured
0
.000
01/01/28
2,023,482
14,610,000
North Texas Tollway Authority, System Revenue Bonds,
Refunding First Tier, Series 2017A
5
.000
01/01/43
14,997,504
9,000,000
Northwest Independent School District, Denton, Tarrant and
Wise Counties, Texas, General Obligation Bonds, School
Building Series 2025
5
.000
02/15/50
9,401,395
39
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
10,000,000
(a)
Pearland, Texas, Certificates of Obligation, Series 2025B, (UB)
5
.250
%
09/01/55
$
10,469,045
10,500,000
(a)
Port of Houston Authority, Harris County, Texas, Revenue
Bonds, First Lien Series 2023, (UB)
5
.000
10/01/53
10,832,443
2,250,000
Red River Education Finance Corporation, Texas, Higher
Education Revenue Bonds, Saint Edwards University Project,
Series 2016
4
.000
06/01/36
2,156,656
6,250,000
San Angelo Independent School District, Tom Green County,
Texas, General Obligation Bonds, School Building Series 2025
5
.000
02/15/44
6,710,573
2,000,000
San Antonio, Texas, General Obligation Bonds, General
Improvement Series 2021
4
.000
08/01/41
2,024,354
11,000,000
Sherman Independent School District, Grayson County, Texas,
General Obligation Bonds, School Building Series 2023B
5
.000
02/15/53
11,305,690
5,000,000
(a)
Sherman Independent School District, Grayson County, Texas,
General Obligation Bonds, School Building Series 2025, (UB)
5
.250
02/15/49
5,320,727
5,000,000
(a)
Sherman Independent School District, Grayson County, Texas,
General Obligation Bonds, School Building Series 2025, (UB)
5
.000
02/15/53
5,171,284
7,975,000
Tarrant County College District, Texas, General Obligation
Bonds, Series 2022
5
.000
08/15/39
8,774,908
2,500,000
Tarrant County Cultural Education Facilities Finance
Corporation, Texas, Hospital Revenue Bonds, Methodist
Hospital of Dallas, Series 2022
4
.000
10/01/47
2,236,844
1,500,000
Tarrant County Cultural Education Facilities Finance
Corporation, Texas, Revenue Bonds, Christus Health, Series
2022A
4
.000
07/01/53
1,304,955
2,500,000
Tarrant County Cultural Education Facilities Finance
Corporation, Texas, Revenue Bonds, Texas Health Resources
System, Series 2016A
5
.000
02/15/41
2,518,255
10,500,000
(a)
Texas Department of Housing and Community Affairs,
Residential Mortgage Revenue Bonds, Series 2024C, (UB)
5
.125
01/01/54
10,739,981
1,300,000
Texas Private Activity Bond Surface Transportation Corporation,
Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-
635 Managed Lanes Project, Refunding  Series 2020A
4
.000
06/30/39
1,301,107
2,875,000
Texas Transportation Commission, State Highway 249 System
Revenue Bonds, First Tier Toll Series 2019A
5
.000
08/01/57
2,899,315
5,000,000
Texas Water Development Board, State Water Implementation
Revenue Fund Bonds, Master Trust Series 2019A
4
.000
10/15/49
4,608,708
23,200,000
Texas Water Development Board, State Water Implementation
Revenue Fund Bonds, Master Trust Series 2024A
4
.375
10/15/59
21,839,315
15,000,000
Texas Water Development Board, State Water Implementation
Revenue Fund Bonds, Master Trust Series 2025
4
.750
10/15/55
15,052,560
17,220,000
University of Houston, Texas, Consolidated Revenue Bonds,
Refunding Series 2022A
5
.000
02/15/52
17,694,344
7,000,000
West Harris County Regional Water Authority, Texas, Water
System Revenue Bonds, Series 2022 - AGM Insured
5
.000
12/15/57
7,177,434
TOTAL TEXAS
430,435,996
UTAH - 1.0% (0.6% of Total Investments)
1,045,000
(c)
Black Desert Public Infrastructure District, Washington County,
Utah, Special Assessment Bonds, Black Desert Assessment
Area 1, Series 2024
5
.625
12/01/53
1,051,706
7,705,000
(a)
Downtown Revitalization Public Infrastructure District, Utah,
Sales Tax Revenue Bonds, Seg Redevelopment Project, First
Lien Series 2025A, (UB)
5
.500
06/01/50
8,334,886
1,250,000
(c)
MIDA Mountain Village Public Infrastructure District, Utah,
Subordinate Tax Allocation Revenue Bonds, Series 2024-2
5
.750
06/15/44
1,283,917
6,000,000
(a)
Millard School District, Utah, Lease Revenue Bonds, Local
Building Authority Series 2024 - BAM Insured, (UB)
5
.000
05/15/59
6,087,307
3,560,000
Salt Lake City, Utah, Airport Revenue Bonds, International
Airport Series 2017B
5
.000
07/01/42
3,627,554
1,975,000
Salt Lake City, Utah, Airport Revenue Bonds, International
Airport Series 2017B
5
.000
07/01/47
1,992,734
4,000,000
Salt Lake City, Utah, Airport Revenue Bonds, International
Airport Series 2018B
5
.000
07/01/48
4,055,595
Portfolio of Investments January 31, 2026
(continued)
NEA
40
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
(continued)
$
1,000,000
Utah Charter School Finance Authority, Charter School
Revenue Bonds, Utah Charter Academies Project, Series 2018
5
.000
%
10/15/38
$
1,018,350
2,320,000
Utah Charter School Finance Authority, Charter School
Revenue Bonds, Utah Charter Academies Project, Series 2018
5
.000
10/15/43
2,335,537
2,040,000
Utah Charter School Finance Authority, Charter School
Revenue Bonds, Utah Charter Academies Project, Series 2018
5
.000
10/15/48
2,041,984
1,850,000
(a)
Utah Housing Corporation, Single Family Mortgage Bonds,
Series 2024C, (UB)
4
.700
01/01/54
1,834,684
TOTAL UTAH
33,664,254
VERMONT - 0.4% (0.2% of Total Investments)
1,000,000
University of Vermont and State Agricultural College, General
Obligation Bonds, Series 2015
4
.000
10/01/40
991,142
10,000,000
University of Vermont and State Agricultural College, General
Obligation Bonds, Series 2015
5
.000
10/01/45
10,003,208
2,730,000
Vermont Educational and Health Buildings Financing Agency,
Revenue Bonds, Middlebury College Project, Series 2023
5
.000
11/01/52
2,823,504
TOTAL VERMONT
13,817,854
VIRGIN ISLANDS - 0.2% (0.1% of Total Investments)
2,645,000
Matching Fund Special Purpose Securitization Corporation,
Virgin Islands, Revenue Bonds, Series 2022A
5
.000
10/01/32
2,819,025
4,600,000
Virgin Islands Hotel Development Financing Corporation, Hotel
Revenue Bonds Frenchmanas Reef Hotel Acquisition Project,
Senior Lien Series 2025A-1
5
.750
02/01/45
4,578,344
TOTAL VIRGIN ISLANDS
7,397,369
VIRGINIA - 1.4% (0.9% of Total Investments)
1,610,000
Arlington County Industrial Development Authority, Virginia,
Hospital Facility Revenue Bonds, Virginia Hospital Center,
Series 2020
4
.000
07/01/40
1,624,909
430,000
Chesapeake, Virginia, Transportation System Senior Toll Road
Revenue Bonds, Capital Appreciation Series 2012B
4
.875
07/15/40
442,354
4,000,000
Fairfax County Industrial Development Authority, Virginia,
Healthcare Revenue Bonds, Inova Health System, Series 2018A
4
.000
05/15/48
3,674,029
8,075,000
Hampton Roads Transportation Accountability Commission,
Virginia, Revenue Bonds, Hampton Roads Transportation Fund,
Senior Lien Series 2022A
4
.000
07/01/52
7,310,279
425,000
James City County Economic Development Authority, Virginia,
Residential Care Facility Revenue Bonds, Williamsburg Landing
Inc., Series 2024A
6
.875
12/01/58
459,563
1,800,000
Virginia Beach Development Authority, Virginia, Residential
Care Facility Revenue Bonds, Westminster Canterbury on
Chesapeake Bay, Series 2023A
7
.000
09/01/53
1,977,843
10,000,000
Virginia Commonwealth Transportation Board, Interstate 81
Corridor Program Revenue Bonds, Senior Lien Series 2021
5
.000
05/15/57
10,310,914
16,065,000
(a)
Virginia Port Authority, Port Facilities Revenue Bonds, Series
2025, (UB)
5
.250
07/01/50
17,013,780
7,505,000
Virginia Resources Authority, Infrastructure and State Moral
Obligation Revenue Bonds, Pooled Loan Bond Program, State
Moral Series 2024A
4
.000
11/01/49
7,038,326
TOTAL VIRGINIA
49,851,997
WASHINGTON - 5.0% (3.0% of Total Investments)
7,000,000
Central Puget Sound Regional Transit Authority, Washington,
Sales Tax and Motor Vehicle Excise Tax Bonds, Green Series
2016S-1
5
.000
11/01/41
7,089,913
12,235,000
Chelan County Public Utility District 1, Washington, Columbia
River-Rock Island Hydro-Electric System Revenue Refunding
Bonds, Series 1997A - NPFG Insured
0
.000
06/01/26
12,124,522
7,000,000
Douglas County Public Utility District 1, Washington, Revenue
Bonds, Wells Hydroelectric, Series 2022B
5
.000
09/01/47
7,240,362
11,500,000
Fircrest Properties, Washington, Lease Revenue Bonds,
Washington State Department of Social & Health Services
Project Series 2024
5
.500
06/01/49
12,356,588
41
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WASHINGTON
(continued)
$
4,200,000
King County Public Hospital District 1, Washington, Limited Tax
General Obligation Bonds, Valley Medical Center, Refunding
Series 2016
5
.000
%
12/01/36
$
4,251,639
7,500,000
King County Public Hospital District 1, Washington, Limited Tax
General Obligation Bonds, Valley Medical Center, Refunding
Series 2018
5
.000
12/01/43
7,717,639
10,630,000
King County Public Hospital District 2, Washington, General
Obligation Bonds, EvergreenHealth, Limited Tax 2020A
4
.000
12/01/45
9,639,038
3,905,000
Port of Seattle, Washington, Revenue Bonds, Refunding
Intermediate Lien Series 2025A
5
.000
10/01/44
4,251,464
5,230,000
Port of Seattle, Washington, Revenue Bonds, Refunding
Intermediate Lien Series 2025A
5
.000
10/01/47
5,539,806
10,535,000
Seattle, Washington, Drainage and Wastewater System
Revenue Bonds, Improvement Series 2023
5
.000
02/01/49
10,981,411
3,750,000
Seattle, Washington, Municipal Light and Power Revenue
Bonds, Refunding & Improvement Series 2022
5
.000
07/01/52
3,866,458
10,000,000
Seattle, Washington, Municipal Light and Power Revenue
Bonds, Refunding & Improvement Series 2023
5
.000
03/01/53
10,327,884
2,000,000
Seattle, Washington, Municipal Light and Power Revenue
Bonds, Refunding & Improvement Series 2025
5
.250
02/01/50
2,141,015
4,000,000
(a)
Snohomish County Public Utility District 1, Washington, Electric
System Revenue Bonds, Refunding Series 2025A, (UB)
5
.250
12/01/55
4,244,535
1,185,000
(a)
Spokane County, Washington, Airport Revenue Bonds,
Spokane International Airport Series 2024A, (UB)
5
.000
01/01/41
1,292,258
1,245,000
(a)
Spokane County, Washington, Airport Revenue Bonds,
Spokane International Airport Series 2024A, (UB)
5
.000
01/01/42
1,341,927
1,310,000
(a)
Spokane County, Washington, Airport Revenue Bonds,
Spokane International Airport Series 2024A, (UB)
5
.000
01/01/43
1,397,848
7,645,000
(a)
Spokane County, Washington, Airport Revenue Bonds,
Spokane International Airport Series 2024A, (UB)
5
.250
01/01/54
7,969,335
5,250,000
Tacoma, Washington, Sewer Revenue Bonds, Series 2018
4
.000
12/01/48
4,977,293
6,180,000
Washington Health Care Facilities Authority, Revenue Bonds,
CommonSpirit Health, Series 2019A-2
5
.000
08/01/44
6,345,193
4,000,000
Washington Health Care Facilities Authority, Revenue Bonds,
Providence Health & Services, Refunding Series 2012A
5
.000
10/01/32
4,008,471
10,000,000
Washington Health Care Facilities Authority, Revenue Bonds,
Providence Health & Services, Refunding Series 2012A
4
.250
10/01/40
10,007,067
3,000,000
Washington Health Care Facilities Authority, Revenue Bonds,
Providence Health & Services, Series 2014D
5
.000
10/01/41
3,002,929
5,160,000
Washington Health Care Facilities Authority, Revenue Bonds,
Seattle Children's Hospital, Series 2015A
4
.000
10/01/45
4,804,637
2,600,000
Washington State Convention Center Public Facilities District,
Lodging Tax Revenue Bonds, Refunding Subordinate Series
2021B.  Exchange Purchase
3
.000
07/01/58
1,716,020
2,525,000
Washington State Higher Education Facilities Authority,
Revenue Bonds, Seattle University, Series 2020
4
.000
05/01/45
2,321,684
500,000
(c)
Washington State Housing Finance Commission, Non-
profit Housing Revenue Bonds, Presbyterian Retirement
Communities Northwest Proejct, Refunding Series 2016A
5
.000
01/01/46
472,984
13,395,000
(a)
Washington State, General Obligation Bonds, Various Purpose
Series 2023A, (UB)
5
.000
08/01/47
13,982,915
9,000,000
Washington State, Motor Vehicle Fuel Tax General Obligation
Bonds, Series 2003C - FGIC Insured
0
.000
06/01/28
8,501,548
TOTAL WASHINGTON
173,914,383
WEST VIRGINIA - 0.6% (0.4% of Total Investments)
12,690,000
West Virginia Hospital Finance Authority, Revenue Bonds,
West Virginia University Health System Obligated Group,
Improvement Series 2017A
5
.000
06/01/47
12,730,319
2,065,000
West Virginia Parkways Authority, Turnpike Toll Revenue Bonds,
Senior Lien Series 2021
5
.000
06/01/47
2,138,171
5,750,000
West Virginia State, General Obligation Bonds, State Road
Competitive Series 2018B
4
.000
06/01/42
5,757,289
TOTAL WEST VIRGINIA
20,625,779
Portfolio of Investments January 31, 2026
(continued)
NEA
42
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN - 5.7% (3.4% of Total Investments)
$
43,035
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
%
01/01/46
$
267
42,429
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/47
262
42,126
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/48
260
41,823
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/49
258
41,217
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/50
254
45,157
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/51
278
1,129,984
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
3
.750
07/01/51
773,987
44,853
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/52
276
44,247
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/53
271
43,944
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/54
269
43,338
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/55
265
42,732
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/56
261
42,429
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/57
259
41,823
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/58
256
41,519
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/59
253
41,217
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/60
251
40,611
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/61
248
40,307
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/62
246
39,701
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/63
242
39,398
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/64
240
39,095
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/65
238
43
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
38,489
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
%
01/01/66
$
234
501,278
(c),(f)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/67
3,046
1,950,000
Public Finance Authority of Wisconsin, Health Care Facilities
Revenue Bonds, Appalachian Regional Healthcare System
Obligated Group, Series 2021A
4
.000
07/01/56
1,430,353
5,000,000
Public Finance Authority of Wisconsin, Hotel Revenue Bonds,
Grand Hyatt San Antonio Hotel Acquisition Project, Senior Lien
Series 2022A
5
.000
02/01/52
4,911,882
8,335,000
(c)
Public Finance Authority, Wisconsin, Educational Revenue
Bonds, Lake Norman Charter School, Series 2018A
5
.000
06/15/48
7,982,539
1,060,000
(d)
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
1,101,786
8,940,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Ascension Health Alliance Senior Credit Group, Series
2013B-1
4
.000
11/15/43
8,562,186
9,830,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Aspirus, Inc. Obligated Group, Inc. Project, Series 2021
4
.000
08/15/46
8,822,923
8,000,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Aspirus, Inc. Obligated Group, Inc. Project, Series 2021
4
.000
08/15/51
7,003,403
9,000,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Marshfield Clinic Health System, Inc., Series 2017C
5
.000
02/15/47
9,013,700
2,000,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Marshfield Clinic, Series 2016B
5
.000
02/15/35
2,002,498
2,415,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, PHW Muskego, Inc. Project, Series 2021
4
.000
10/01/51
1,775,040
2,470,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, PHW Muskego, Inc. Project, Series 2021
4
.000
10/01/61
1,694,231
5,155,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Ascension Health Alliance Senior
Credit Group, Series 2016A
4
.000
11/15/34
5,165,518
20,000,000
(a)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Aspirus Inc., Series 2025, (UB)
5
.250
08/15/55
20,537,384
1,110,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Benevolent Corporation Cedar
Community, Series 2017
5
.000
06/01/37
1,121,105
955,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Benevolent Corporation Cedar
Community, Series 2017
5
.000
06/01/41
955,122
1,000,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
09/01/30
1,042,829
1,110,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
09/01/31
1,157,540
1,100,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
09/01/32
1,147,112
1,725,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
09/01/33
1,798,880
1,775,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
09/01/34
1,851,021
Portfolio of Investments January 31, 2026
(continued)
NEA
44
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
1,910,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
%
09/01/35
$
1,991,803
2,065,000
(d)
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Franciscan Sisters of Christian
Charity Sponsored Ministry, Series 2017A, (Pre-refunded
9/01/27)
5
.000
09/01/36
2,153,442
15,000,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated
Group, Series 2022A
4
.000
04/01/41
14,938,089
18,595,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Marquette University, Series 2016
5
.000
10/01/46
18,654,026
8,215,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Marshfield Clinic, Series 2016A
5
.000
02/15/42
8,218,265
5,000,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc.,
Series 2016
5
.000
12/01/41
5,040,560
10,000,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc.,
Series 2022
4
.000
12/01/46
9,181,993
10,000,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc.,
Series 2022
4
.000
12/01/51
8,774,746
1,525,000
Wisconsin Health and Educational Facilities Authority,
Wisconsin, Revenue Bonds, Oakwood Lutheran Senior
Ministries, Series 2021
4
.000
01/01/57
1,189,730
29,080,000
(a)
Wisconsin Housing and Economic Development Authority,
Home Ownership Revenue Bonds, Social Series 2024B, (UB)
4
.750
03/01/51
28,947,418
10,400,000
(a)
Wisconsin Housing and Economic Development Authority,
Home Ownership Revenue Bonds, Social Series 2024C, (UB)
4
.750
03/01/51
10,352,584
TOTAL WISCONSIN
199,302,129
TOTAL MUNICIPAL BONDS
(Cost $5,718,997,596)
5,771,060,665
TOTAL LONG-TERM INVESTMENTS
(Cost $5,718,997,596)
5,771,060,665
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM INVESTMENTS -  1.7%(1.0% of Total Investments)
58670000
MUNICIPAL BONDS - 1.7% (1.0% of Total Investments)
58670000
MASSACHUSETTS - 0.7% (0.4% of Total Investments)
19,040,000
(h)
Massachusetts Development Finance Agency, Revenue Bonds,
Boston University, Series 2008U-6E
3
.200
10/01/42
19,040,000
4,310,000
(h)
Massachusetts Development Finance Agency, Revenue Bonds,
Boston University, Variable Rate Demand Series 2008U-6C
3
.150
10/01/42
4,310,000
TOTAL MASSACHUSETTS
23,350,000
OREGON - 0.2% (0.1% of Total Investments)
6,420,000
(h)
Oregon State, General Obligation Bonds, Department of
Veterans Affairs Series 105B of 2020J
3
.200
06/01/39
6,420,000
TOTAL OREGON
6,420,000
45
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
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS - 0.8% (0.5% of Total Investments)
$
28,900,000
(h)
San Antonio, Texas, Water System Revenue Bonds, Subordinate
Lien Series 2025D
2
.950
%
05/01/55
$
28,900,000
TOTAL TEXAS
28,900,000
TOTAL MUNICIPAL BONDS
(Cost $58,670,000)
58,670,000
TOTAL SHORT-TERM INVESTMENTS
(Cost $58,670,000)
58,670,000
TOTAL INVESTMENTS - 167.1%
(Cost $5,777,667,596)
5,829,730,665
FLOATING RATE OBLIGATIONS - (13.3)%
(
465,685,000
)
AMTP SHARES, NET - (1.5)%(i)
(
52,987,795
)
MFP SHARES, NET - (20.1)%(j)
(
702,855,335
)
VRDP SHARES, NET - (33.1)%(k)
(
1,155,721,587
)
OTHER ASSETS & LIABILITIES, NET -  0.9%
36,968,028
NET ASSETS APPLICABLE TO COMMON SHARES - 100%
$
3,489,448,976
ETM
Escrowed to maturity
IF
Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the
Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is
reduced by the expenses related to the TOB trust.
PIK
Payment-in-kind (“PIK”) security.  Depending on the terms of the security, income may be received in the form of cash, securities, or
a combination of both.  The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the
issuer as of the end of the reporting period.
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)
Floating or variable rate security includes the reference rate and spread, when applicable.  For mortgage-backed or asset-backed
securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
(c)
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 fiscal period, the aggregate value of these securities is $125,273,011 or 2.1% of Total Investments.
(d)
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.
(e)
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 fiscal period.
(f)
Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of
bankruptcy.
(g)
When-issued or delayed delivery security.
(h)
Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term
investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the
reporting period. This rate changes periodically based on market conditions or a specified market index.
(i)
AMTP Shares, Net as a percentage of Total Investments is 0.9%.
(j)
MFP Shares, Net as a percentage of Total Investments is 12.1%.
(k)
VRDP Shares, Net as a percentage of Total Investments is 19.8%.
Portfolio of Investments January 31, 2026
(continued)
NEA
46
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).
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:
NEA
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Municipal Bonds
$
–
$
5,771,060,665
$
–
$
5,771,060,665
Short-Term Investments:
Municipal Bonds
–
58,670,000
–
58,670,000
Total
$
–
$
5,829,730,665
$
–
$
5,829,730,665